In a Bloomberg article originally published October 12, 2022, Courtney M. Dankworth, Jehan Patterson and Zila R. Acosta-Grimes caution financial technology companies that recent actions by the Consumer Financial Protection Bureau signal it intends to take an expansive view of its jurisdiction. They offer several steps fintechs can take to prepare for this extra scrutiny. The article, “Why Fintechs Should Care About the CFPB,” is available here.
For additional background, see:
- CFPB Announces Extension of Risk-Supervision Authority to Nonbanks
- CFPB Expands Its Authority to Examine for Discrimination (Debevoise in Depth)
- Industry Groups Challenge Consumer Financial Protection Bureau’s Position that Discrimination Can Be a UDAAP
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