- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2021-01-19T23:25:00
Rohit Chopra’s nomination to lead the CFPB represents a full-throated return to the combative consumer protection agency under former director Richard Cordray, experts say.
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The Senate confirmed Rohit Chopra to be the next director of the Consumer Financial Protection Bureau with a party-line vote. Lawmakers will soon shift their attention to his replacement at the Federal Trade Commission.
No federal agency is truly immune from politics—even the ones that are supposed to be independent. That is what’s playing out at the PCAOB and CFPB as Democrats utilize similar tactics coined by their Republican counterparts.
The Consumer Financial Protection Bureau reversed a Trump administration policy on how it assesses and punishes abusive practices in the financial services industry.
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
