The first deadline for “participant covered nonbanks” in a new registry is Jan. 14, the federal consumer financial protection agency said in a “reminder” sent Friday.
The Consumer Financial Protection Bureau (CFPB) said its new “Nonbank Registry” portal is now open for registrations; its note on Friday offered notices of deadlines approaching.
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.
The Jan. 14 registration submission deadline affects larger participant CFPB-supervised covered nonbanks that have covered orders.
Other upcoming deadlines, according to the portal’s website, are April 14 for other CFPB-supervised covered nonbanks, and July 14 for “all other covered nonbanks.”
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