CFPB Issues Final Rule on Nonbank Registration of Enforcement Orders

On June 3, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule requiring covered nonbanks to register enforcement orders, and it is a doozy. Not only will covered nonbanks be required to register public orders issued by agencies and courts with the CFPB, but they will have to go back to 2017. And not only will the CFPB publish the orders, but a large subgroup will have to certify on a yearly basis their full compliance with the orders or make a self-disclosure to the CFPB of any compliance failures. This rule has obvious major consequences for any covered person caught in its web, making the exact ambit of the rule crucial. Given the final rule clocks in at a whopping 486 pages, this post will attempt to provide a roadmap through the rule, focusing on what is required and who is covered.

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ARM Tech Trends: Addressing Common Customer Queries  

Adopting new technology can be valuable for organizations but keeping up with the advancements, and the benefits they can offer, is a challenge. In this new eBook, Finvi provides insight into the current tech trends in the ARM industry, like AI, and answers the most common questions they hear from customers. Armed with these answers, ARM executives and leaders can apply them to the specific issues facing their organizations today and position themselves for success in the future. 

Download now to learn more. 

Spire Recovery Solutions Donates to Four Charitable Causes in First Half of 2024

LOCKPORT, N.Y. -- Spire Recovery Solutions, founded by U.S. Military Veterans Jacob Torriere and Joseph Torriere, is proud to serve both its local and national communities. Over the first half of 2024, Spire has donated to four unique organizations dedicated to improving the lives of children, service members, veterans, and more.

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CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

The CFPB continued with a high level of activity in May. In this month's article, we share some of our top "bites" of the month to help you stay up to date.

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The Estate Registry Enhances Award Winning Death Notification Solution with Settld Acquisition.

WILMINGTON, Del. -- The Estate Registry, an innovation created by Phillips & Cohen Associates, the global leader in deceased account care management and technology solutions, has acquired Settld, the Sunderland-based death notification business designed to create a more consumer focused solution for those tasked with estate administration.

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Another 12-Year High for Credit Card Charge-offs and Delinquencies Federal Reserve Releases Q1 Data

Credit card charge-offs and credit card loan delinquencies continue to be at a 12-year high, according to the Federal Reserve’s first-quarter report. There are clues in the FED’s quarterly data indicating future account volume.

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Latitude by Genesys Provides Crucial Support for Dogs Inc

MENLO PARK, Calif -- Latitude by Genesys announced a significant donation to Dogs Inc (formerly Southeastern Guide Dogs Inc), reinforcing their commitment to supporting organizations that provide essential services to those in need. The contribution comes at a crucial time when the demand for guide dogs and related services is on the rise, highlighting the importance of collective support from the community.

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RA Compliance Corner: Internal Controls- When and How to Effectively Use Them

12 June 2024 at 02:00 p.m.

Though they may want to, compliance professionals can’t review every request or monitor everything that goes on in their organization. To effectively safeguard their organizations from risks, compliance professionals must establish a robust internal control system. 

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