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CFPB’s new team has a message for banks it regulates: We’re back

Source: Jeff Kearns & Hannah Levitt, Bloomberg Businessweek

The Consumer Financial Protection Bureau is already sending a message that it’s getting tougher. On-site examinations are up, banking executives tell consultants. Big banks aren’t the only businesses likely to get more attention. Groshans sees the CFPB as likely to scrutinize private student lenders and loan servicers. He also saw CFPB director nominee Rohit Chopra citing car repossessions and loan defaults in his confirmation testimony as a signal that Chopra may target subprime auto lenders.

Read Full Article: CFPB’s new team has a message for banks it regulates: We’re back

 

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