The Consumer Financial Protection Bureau (CFPB) plans to revive “dormant” Dodd-Frank Act powers that would allow the watchdog to conduct supervisory exams on nonbanks or any “fintech” it believes is risky. “Given the rapid growth of consumer offerings by nonbanks, the CFPB is now utilizing a dormant authority to hold nonbanks to the same standards […more]
Posted in: San Francisco
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