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No exceptions due to the pandemic

Question: 
Are agency’s other than the CFPB expected to change enforcement directives in the coming year?
Answer: 

Yes! The Biden administration has already reversed the pandemic “exceptions” for investigating errors on open end credit and credit reporting. The CFPB indicated allowing more time to complete investigations was not a goal of consumer protections and those needing to follow those rules would not get a pass for efforts alone. That means other regulatory agencies must resume enforcement regardless of manpower shortages on the banks part or a retailer who couldn’t take time to reply to the bank on an investigation.

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Learn more about John and Andy’s

Insights, PS Ep.1, CFPB and e-Signage webinar.

First published on 06/20/2021

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