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CFPB rescinds abusiveness policy statement
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Regulatory Updates
Monday, March 15, 2021
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The Consumer Financial Protection Bureau (CFPB) announced it is rescinding its Jan. 24, 2020 policy statement, “Statement of Policy Regarding Prohibition on Abusive Acts or Practices.” Going forward, the CFPB said it intends to exercise its supervisory and enforcement authority consistent with the full scope of its statutory authority under the Dodd-Frank Act as established by Congress. Read on for more details.
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