New Bureau Initiatives, Efforts With States Likely, OIG Discloses
October 15, 2012
The Federal Reserve Office of Inspector General recently revealed that the CFPB plans to accept complaints about additional financial products and services and anticipates that referrals from state agencies will increase as the CFPB begins accepting complaints regarding nonbank products. The disclosures were provided in the OIGs evaluation report of the bureaus Consumer Response Unit, which was released last week. This news should be of concern to financial institutions because it is another clear indication that the CFPB is preparing to extend its enforcement functions...