Last week, RMAI submitted Comments to the Consumer Financial Protection Bureau (CFPB or Bureau) in response to the CFPB’s request for comments concerning a proposed rule to require certain nonbank entities to register with the Bureau when subject to a public written order (such as a consent order) or a judgment. The online registry and the contents of the written orders would be publicly accessible. RMAI indicated its opposition to the proposed rule for several reasons; including, but not limited to:
RMAI will continue to make our concerns known to the CFPB and will provide additional information to our members as it becomes available. |
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This Member Alert is intended for members of the Receivables Management Association International, is for informational purposes only, and is in no way intended to provide legal advice. Members are encouraged to consult with an attorney of their choice for legal advice concerning this matter. |