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Consumer Compliance

Bankers now have a chance to weigh in on their views regarding regulations adopted by the bureau since its establishment. The bureau wants comment on both potential changes and what commenters think should be left as is.

Open season on CFPB rules

Mulvaney’s reexamination of bureau continues with request for input on most regs
"No dice, Director." Rejecting this plea from CFPB, President Trump undid the bureau's arbitration rule.

Trump signs CFPB arbitration rule override

11th-hour appeal by Director Cordray predictably failed to move President
Bureau's latest move is one more in an ongoing match over third-party data access.

Entrée to U.S. consumer data sharing?

CFPB outlines principles for consumer-authorized third-party sharing and aggregation
A clean and honest sales program requires asking lots and lots of questions, assuming nothing. Common sense must also rule. "If less than half your employees can achieve their sales goals, that's a problem," says one expert. "You have to have realistic goals."

Keeping sales culture clean

Ask key questions now—or face worse questions from regulators and public later
Banks can learn a lot from complaints, but at the end of the day you also want unhappy customers to become satisfied customers.

Complaints management requires tough management

Customer experience hinges on getting problems fixed promptly—and right
Express Banking welcomes new customers into Fifth Third with a real banking relationship.

Fifth Third’s low-cost winner

Serving unbanked and underbanked people is express purpose of Express Banking
CFPB scrutinized credit score and credit monitoring services offered by two major consumer credit reporting companies.

Credit firms settle deception claims

In CFPB case TransUnion, Equifax pay $23.1 million over charge of misrepresenting monitoring services
Wells Fargo hit on military lending

Wells Fargo hit on military lending

Must pay restitution and penalties for violating Servicemembers Civil Relief Act.
Bank boards must close up the gaps to oversee compliance appropriately.

Compliance risk rises to top of board agenda

In wake of Wells affair, directors must reconsider what “risk appetite” really means
Surviving a CFPB exam

Surviving a CFPB exam

Preparation’s half the secret. Making your case early helps too
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