Browsing: Compliance and Risk

Compliance and Risk ABA calls for changes to CFPB’s Section 1033 proposal 

ABA raised concerns that several aspects of the CFPB’s proposal to implement Section 1033 of the Dodd Frank Act—which governs financial data sharing—”may appear reasonable in the abstract but will break down in practical application.” The association offered several recommendations for improving the effectiveness of the proposal, while emphasizing that the CFPB failed to provide adequate time for public comment given the rule’s scope. 

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