News & Analysis as of

Larger Participant Nonbank Firms

Eversheds Sutherland (US) LLP

Legal Alert: CFPB Proposes to Examine and Directly Supervise Nonbank Auto Lenders

On September 17, the Consumer Financial Protection Bureau (CFPB) proposed to make nonbank automobile lenders subject to the examination and direct supervision of the Bureau. The proposed rule can be found here. Under the...more

Eversheds Sutherland (US) LLP

CFPB Plans Supervision of Nonbank Automobile Lenders

In a May 23, 2014 blog post by Kelly Cochran, Assistant Director of Regulation, the Consumer Financial Protection Bureau indicated that it is working on a “larger participant” rule for nonbank automobile lenders pursuant to...more

Foley & Lardner LLP

CFPB Proposes New “Larger Participants” Rule for Non-Bank International Money Transmitters

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (CFPB) has proposed a new rule to define “larger participants” of the market for non-bank international money transfers. Comments to the proposed rule will be accepted by the CFPB for...more

Morrison & Foerster LLP

CFPB Proposes Definition of Larger Participants for the International Money Transfer Market

On January 23, 2014, the Consumer Financial Protection Bureau (“CFPB”) issued a proposed rule that would define which nonbank covered persons would be designated “larger participants” for purposes of the international money...more

Ballard Spahr LLP

CFPB issues proposal to supervise “larger participant” international money transfer providers

Ballard Spahr LLP on

We had been expecting the CFPB’s next “larger participant” proposal to be a rule for the auto finance market. Instead, the CFPB issued a proposed rule yesterday that would allow it to supervise nonbank international money...more

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