On October 16, 2024, American Banker quotedJonathan Pompan on the Consumer Financial Protection Bureau's (CFPB) nonbank registry. According to the article, the registry is poised to address repeat corporate offenders and is set to go live this week.
American Banker also reported that the CFPB's registry will require some nonbanks that have violated consumer protection laws and court orders to register all of their public actions. The CFPB is also expected to require companies to share copies of public orders and up-to-date information on a regular basis.
Pompan referred to the registry as “an online treasure trove of information that will be available for all to see,” and “a move that's sure to make nonbank financial institutions even more uncomfortable.”
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