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CFPB invokes ‘dormant’ Dodd-Frank authority in first supervisory designation order
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Consumer Protection, Nonbank Financial
Tuesday, March 5, 2024
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The Consumer Financial Protection Bureau recently invoked its “dormant” Dodd-Frank Act authority when it issued its first supervisory designation order to a nonbank installment lender. The notice outlined activities that the bureau determined could pose a risk to consumers.
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