CFPB: The Quarterly Review, Q3 2016

White & Case’s Financial Institutions Advisory (FIA) practice is pleased to share its most recent quarterly newsletter on the Consumer Financial Protection Bureau’s ("CFPB” or "Bureau”) oversight of the consumer financial services industry. The newsletter highlights the CFPB's notable rulemaking, supervisory and enforcement actions from the third quarter, how these activities might impact the marketplace and what industry participants should expect next from the agency.

As we reported in our inaugural CFPB newsletter, 2016 is proving to be a busy year for the CFPB and market participants. In the third quarter, the CFPB reached a consent agreement with the country's third-largest bank, imposing the largest fine in its five-year history. The Bureau also had a number of major rulemakings as well as updates to its Supervision Examination Manual.

Please see full newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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