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CFPB plans to create a database of lender’s contract fine print
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Consumer Protection, Government Oversight, Nonbank Financial
Tuesday, January 17, 2023
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The Consumer Financial Protection Bureau (CFPB) proposed a new rule establishing a public registry of supervised nonbanks’ terms and conditions in “take it or leave it” form contracts claiming to waive or limit consumer rights and protections.
The proposed rule would require supervised nonbanks to routinely submit information on their terms and conditions to the CFPB.
Read on for more details.
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