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In the Wake of Wells Fargo Scandal, is CFPB Reform Dead? CUs will have to work even harder to make the case for regulatory relief
Ist Teil von
Credit Union Journal, 2016-10, Vol.20 (20), p.1
Ort / Verlag
New York: SyndiGate Media Inc
Erscheinungsjahr
2016
Link zum Volltext
Quelle
Nexis
Beschreibungen/Notizen
Credit unions are worried that the revulsion arising from Wells Fargo's illegal practices may spell doom for any hopes of regulatory and compliance scale-backs, and structural reforms at the Consumer Financial Protection Bureau and other regulators. Given that the compliance and regulatory rules enforced by government agencies such as the CFPB impact both credit unions and banks, there are concerns among CU observers that the fallout from the Wells Fargo scandal could make regulators even more reluctant to scale back how financial institutions are overseen.