CFPB to Evaluate Military Lending Act Violations in its Exams of Creditors and Will Use Its Enforcement Authority in Cases of Substantial Consumer Harm
WASHINGTON, D.C. –(ENEWSPF)--September 30, 2016. Today the Consumer Financial Protection Bureau (CFPB) issued the procedures its examiners will use in identifying consumer harm and risks related to the Military Lending Act rule which was updated in July 2015. The exam procedures being released today by the Bureau provide guidance to industry on what the CFPB will be looking for during reviews covering the amended regulation.
“Protecting servicemembers . . .
