Reported 4 months ago
The Consumer Financial Protection Bureau (CFPB) in the United States has announced the establishment of a public registry to identify nonbank financial companies found violating consumer laws, aiming to deter corporate repeat offenses. The new regulations require nonbank entities like debt collectors, mortgage lenders, and credit reporting companies to report actions taken against them to the CFPB. The registry will help monitor repeat offenders and ensure accountability for breaking the law, with the first registrations expected in January 2025.
Source: YAHOO