On August 2, the Federal Financial Institutions Examination Council (FFIEC) announced updates to certain sections and examination procedures in the FFIEC Bank Secrecy Act/Anti-Money Laundering Examination Manual (Manual). The...more
The CFPB recently updated its examination manual to, in Director Chopra’s words, “combat discriminatory practices across the board in consumer finance.” Under the CFPB’s revised manual, any discriminatory conduct that the...more
On June 28, the American Bankers Association, Consumer Bankers Association, Independent Community Bankers of America, and the U.S. Chamber of Commerce affirmed in a letter to CFPB Director Rohit Chopra that the CFPB should...more
The Consumer Financial Protection Bureau (CFPB) materially altered the consumer protection landscape in the financial services industry through a series of revisions to its examination manual for unfair, deceptive and abusive...more
On March 16, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) announced a significant expansion of its “anti-discrimination efforts to combat discriminatory practices across the board in consumer finance.” Under...more