Mike Silver and Leslie Sowers will present, "CFPB Non-Rulemaking Guidance: A Primer," at the America’s Credit Unions on Thursday, June 13, 2024.
In June 2022, Director Rohit Chopra wrote in a blog post that the Consumer Financial Protection Bureau (CFPB) was “seeking to move away from highly complicated rules that have long been a staple of consumer financial regulation and towards simpler and clearer rules” and that the agency was “dramatically increasing the amount of guidance it’s providing to the marketplace, in accordance with the same principles.” In 2022 alone, the CFPB issued over 20 pieces of formal non-rulemaking guidance (e.g., advisory opinions, interpretive rules, circulars) as well as informal guidance through the Director’s public remarks, press releases, blogs, and other mediums. Not all guidance is created equal. Understanding the types of guidance and their intended audience may help inform the potential impact of the guidance for your credit union.
Key Takeaways:
- Discover the background on the CFPB’s increased issuance of non-rulemaking guidance
- Explore the different types of CFPB guidance and their legal and policy distinctions
- Review examples of recent noteworthy CFPB guidance that affect credit unions
- Investigate compliance challenges created by the increased volume and velocity of CFPB guidance
For more information, visit the event website.