As numerous enforcement actions citing companies’ efforts to remediate harmed consumers and self-report legal violations have come to light since Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger took office, there is growing evidence demonstrating that it pays for companies to speak up when they spot a problem rather than waiting for examiners to find it.
Goodwin Procter LLP Partner Tony Alexis, former CFPB head of enforcement, and Morrison & Foerster Counsel Kathleen “Kitty” Ryan, former CFPB deputy assistant director for regulations, explained why taking such steps can be beneficial to companies.
Find out more details about what the two industry experts had to say.