The Consumer Financial Protection Bureau plans to narrow the scope of a Biden-era public registry for nonbank companies found liable of violating consumer finance laws, if it doesn’t repeal the registry rule entirely.
The rule, finalized under former CFPB Director Rohit Chopra last June, requires any company that was determined to be in violation of a municipal, state, or federal consumer finance law to submit the relevant court or agency orders to the public database. Senior executives are required to attest in the database that their companies are complying with those orders.
The rule applies to nonbank companies under the ...
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