CFPB Details Responsible Conduct in Enforcement Probes
July 1, 2013
The CFPB issued a bulletin last week that details the kind of responsible conduct by a regulated institution that the agency may favorably consider in exercising its enforcement discretion.The factors include the nature, extent and severity of the violations identified; the actual or potential harm from those violations; whether there is a history of past violations; and a partys effectiveness in addressing violations. The bureau said the guidance was being issued to inform those subject to its enforcement...