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CFPB to Host Symposium Series

NationalMortgageProfessional.com
Apr 19, 2019
The Consumer Financial Protection Bureau has announced that it has taken measures to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic

Consumer Financial Protection Bureau Director Kathleen L. Kraninger has announced a symposia series exploring consumer protections in today’s dynamic financial services marketplace. The series is aimed at stimulating a proactive and transparent dialogue to assist the Bureau in its policy development process, including possible future rulemakings. During each symposium, the Bureau will host a discussion panel of experts with a variety of viewpoints on the topic.
 
“There are a number of outstanding, challenging issues the Bureau is facing–some of which Congress directed us to address. I believe that the best way to address these issues is with proactive dialogue,” said Director Kraninger. “The symposia series is building on the approach we took last year in convening experts on access to credit issues and credit invisibles. These types of proactive efforts are precisely how we intend to engage. Our symposia series will facilitate a robust discussion by experts on a variety of topics related to the Bureau’s mission in a public forum. As the Bureau has an open mind on where the process will go, any appropriate next steps would come after the Bureau has had time to digest the discussion at the given symposium.”
 
The first topic for the symposia series will be around clarifying the meaning of abusive acts or practices under Section 1031 of the Dodd-Frank Act. The symposia series will include topics ranging from abusive acts or practices, behavioral law and economics, small business loan data collection, disparate impact and the Equal Credit Opportunity Act, cost-benefit analysis, and consumer authorized financial data sharing.

 
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