At the program held on April 7 entitled “The State of Consumer Protection Initiatives” at the American Bar Association Business Law Section Consumer Financial Services Committee 2017 Spring Meeting, Peggy Twohig, the CFPB’s Assistant Director for Supervision Policy, announced that the CFPB has begun to examine service providers on a regular, systematic basis, particularly those supporting the mortgage industry. … Continue Reading
service providers
Cordray stresses individual accountability and service provider oversight in remarks to Chicago Fed
By Lauren McDermott on
In remarks to the Chicago Federal Reserve Bank on May 9, Director Cordray outlined the past and future of the Bureau’s enforcement efforts. Director Cordray’s theme was to outline Bureau expectations in what he calls a “new era of accountability.”
Director Cordray highlighted the Bureau’s efforts to hold individual decision makers responsible for violations of consumer finance laws along with companies through the use of “time-honored principles of law” governing vicarious liability and piercing the corporate veil.… Continue Reading