The Consumer Financial Protection Bureau’s (CFPB) newly issued policy statement intended to ease uncertainty about conduct that may be flagged as “abusive” in supervisory and enforcement actions offers more insight about what will not be considered abusive than what will be.
The CFPB indicated that its approach for defining the nexus between will be dependent upon future supervisory or enforcement actions where it can illustrate the difference.
Find out more details about the policy statement, which took effect immediately.