How nonbanks may register an order under a new rule that took effect in September will be the subject of two “regcasts” about the regulation set for Dec. 11 and 17, the federal consumer financial protection agency said Tuesday.
The Consumer Financial Protection Bureau (CFPB) said the regcasts will review frequently asked regulatory questions (FARQs) received so far in the implementation of the rule, including coverage-related questions. Both dates will be virtual-only presentations and will feature the same content, the agency said.
The rule creating the requirement for the registry took effect Sept. 16. Under the final rule:
- Covered nonbanks are required report certain final agency and court orders and judgments to the CFPB. These orders include consent and stipulated orders brought under consumer protection laws.
- Nonbank companies supervised by the CFPB that are subject to an order are required to provide a written attestation from an executive that confirms compliance with any relevant orders.
In June, the CFPB created a registry for nonbanks subject to orders under consumer financial protection laws. Those nonbank firms are required to register and submit information about the orders.
The bureau said then that the registry will help it to detect and deter corporate offenders that have broken consumer laws and are subject to federal, state, or local government or court orders. The registry will also help the bureau identify repeat offenders and recidivism trends, CFPB contended.
Regcast 1: Dec. 11, 2024, from 11:30am to 1:00pm (Eastern Time):
Regcast 2: Dec. 17, 2024 from 1:00pm to 2:30pm (Eastern Time):
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