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CFPB Signals Aggressive Stance on Abuse by Pulling Trump-Era Policy Statement

S&P Global Market Intelligence

30 Mar 2021

Nancy Thomas spoke to S&P Global Market Intelligence about the Consumer Financial Protection Bureau rescinding a Trump-era policy statement, signaling a return to stronger and more frequent crackdowns on abuse.

According to Nancy, financial institutions are not sure when they could face abusiveness claims.

“The bureau has not cleared out a separate space for what abusiveness means,” she said. “The industry wants guardrails and guidance. Trying to get that guidance from enforcement actions requires regulated entities to read the tea leaves.”

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