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Tuesday, July 2, 2013

Do You Know the Latest Guidance from the CFPB on Responsible Business Practices?

By ABIA Outside Counsel Chrys Lemon and Adam Maarec, McIntyre & Lemon, PLLC

The Consumer Financial Protection Bureau (CFPB) recently issued a bulletin outlining the various “responsible business” practices that its enforcement division considers when assessing its response to a violation of the law. The Bureau advises that there are practices companies can put in place to prevent, detect, and mitigate violations, all of which will be looked upon favorably should an enforcement action be taken.

To learn more about the CFPB's responsible business practices, read our compliance brief prepared just for bank-owned agencies that are members of ABIA. If you are having trouble logging on or you are with a member that is not a bank, please contact us and we will email you a copy.

ABIA members may access a wealth of compliance information - including our flagship Compliance Handbook on our Compliance page. If you need help logging in, please contact us and we will be happy to assist you.