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Thursday, February 21, 2013

ABIA's Dialogue with the CFPB and FTC

On yesterday's ABIA and ABA telephone briefing with CFPB and FTC regulators, the speakers provided the industry with a compliance road map. Key information included news that the CFPB was not contemplating further rule makings in the lender-placed insurance (LPI) or debt protection products (DPP) marketplaces, and clarifications about how the CFPB looks at its role in insurance regulation. Focusing on sales practices, comments suggested CFPB was most interested in transparency for the consumer and consumer value. The Speakers included:
  • Ben Olson, the Deputy Assistant Director for the Consumer Financial Protection Bureau’s Office of Regulations
  • April Breslaw, the Deputy Assistant Director for Supervision Policy from the CFPB’s Office of Supervision, Fair Lending and Enforcement.
  • Reilly Dolan from the Federal Trade Commission’s (FTC) Division of Financial Practices supervises investigations litigation to enforce the FTC Act, the Telemarketing Sales Rule, and the Fair Debt Collection Practices Act. Learn more and purchase your copy of the briefing.