Archive: 20 February 2012

1
Recently Introduced Bills to Protect Privileged Documents: Are They Sufficient to Protect Credit Unions and Nonbanks?
2
CFPB Launches Online Portal for Regulation Streamlining Comments

Recently Introduced Bills to Protect Privileged Documents: Are They Sufficient to Protect Credit Unions and Nonbanks?

By: Stephanie C. Robinson

Several bills floating around Congress this month aim to address the privilege waiver issue that is causing anxiety for CFPB-regulated entities. Banks and credit unions routinely have shared privileged documents with their prudential regulators (banking agencies and the National Credit Union Administration) without concern about a claim of waiver because of two statutory provisions that say submitting privileged information to these regulators in the course of supervision does not result in a waiver as to any other person or entity. Read More

CFPB Launches Online Portal for Regulation Streamlining Comments

By: Eric Mitzenmacher

On Friday, the CFPB launched a new online portal through which the public can submit comments on ongoing efforts to streamline inherited regulations. The move continues the Bureau’s trend of using its website to promote a more interactive and responsive regulatory feel. Over the past few months, the site has hosted dialogs between the Bureau, industry representatives, and consumers as part of Know Before You Owe Campaigns that have targeted disclosures related to mortgages, credit cards, and student loans. CFPB has also positioned its site as its preferred method for receiving and resolving complaints about consumers’ mortgages or credit cards. Indeed, the complaint portals remain the most prominent feature of the CFPB homepage. Read More

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