On September 4, the CFPB circulated its summer 2020 Supervisory Highlights, which details its supervisory and enforcement actions when you look at the regions of customer reporting, business collection agencies, deposits, reasonable financing, home loan servicing, and payday financing. The findings of this report, that are posted to help entities in complying with relevant consumer laws and regulations, address examinations that generally speaking had been finished between September and December of 2019.
Shows regarding the assessment findings consist of:
- Consumer Reporting. The Bureau cited violations regarding the FCRAвЂ™s requirement that loan providers first establish a permissible function before they have a customer credit history. Continue reading