Archive

Go to:

October 2017
SMTWTFS
1234567
891011121314
15161718192021
22232425262728
293031
< Sep Nov >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

CFPB: ‘We’re Studying the Costs of Complying with Consumer Finance Regulations’
Thursday, March 21, 2013 7:15 AM

In response to concerns from credit unions, banks and other financial service providers over compliance costs, the Consumer Financial Protection Bureau (CFPB) says it studying the issue.

“Regulations can have many benefits for consumers, but the benefits sometimes come at a cost,” the agency posted on its blog yesterday.

The CFPB says it wants to know the extent and nature of compliance costs, so they intent to talk with financial institutions across the country to find out what costs they incurred to comply with consumer regulations for deposit products and services.  These include products like checking accounts and debit cards.

Through this research, the CFPB says they hope to become better and smarter regulators.