US Consumer Financial Protection Bureau Acts to Expand Its Authority Over Nonbank Consumer Financial Service Companies

September 01, 2013

The Consumer Financial Protection Bureau, pursuant to its authority to extend its supervision to persons that offer or provide any consumer financial product or service that poses a risk to consumers, has adopted a final rule establishing procedures to provide such persons with notice of their proposed designation for supervision. The authors of this article explain the final rule.

To read the full analysis, please click here.

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