We first review the scope of the CFPB’s supervisory authority granted by Dodd-Frank and the source of its authority to supervise nonbanks that present risks to consumers. We then discuss how we expect the CFPB to use its risk-based authority, including the types of products it may target and its decision to make public the identities nonbanks. We also look at the practical impact of CFPB supervision for targeted nonbanks and what steps companies can take both to avoid becoming a CFPB target and to prepare for the possibility of a CFPB examination. Finally, we consider how the CFPB’s action could impact the approach of state regulators to nonbank providers of alternative credit products.
John Grugan, a partner in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation, joined by Michael Gordon and Lisa Lanham, partners in the Group.
View all episodes
By Ballard Spahr LLP
4.9
4545 ratings
We first review the scope of the CFPB’s supervisory authority granted by Dodd-Frank and the source of its authority to supervise nonbanks that present risks to consumers. We then discuss how we expect the CFPB to use its risk-based authority, including the types of products it may target and its decision to make public the identities nonbanks. We also look at the practical impact of CFPB supervision for targeted nonbanks and what steps companies can take both to avoid becoming a CFPB target and to prepare for the possibility of a CFPB examination. Finally, we consider how the CFPB’s action could impact the approach of state regulators to nonbank providers of alternative credit products.
John Grugan, a partner in Ballard Spahr’s Consumer Financial Services Group, hosts the conversation, joined by Michael Gordon and Lisa Lanham, partners in the Group.
32,147 Listeners
30,649 Listeners
25,875 Listeners
8,752 Listeners
9,168 Listeners
8,472 Listeners
372 Listeners
6,296 Listeners
112,617 Listeners
1,451 Listeners
10,240 Listeners
16,246 Listeners
16,081 Listeners
10 Listeners
13 Listeners