- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
As both the CFPB itself and the White House clash over who runs the agency in the wake of Director Richard Cordray’s resignation, compliance officers should brace for one of the Trump administration’s uglier legal battles.
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Slowly but surely, those critics of the Consumer Financial Protection Bureau’s are close to winning their battle, aided by efforts to dismantle the agency from within.
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
Regulations are sure to be rolled back under President Donald Trump, but the question is which regulations, and how much? Is your organization as prepared to respond when regulations are loosened as it was when they were tightened?
