What the Consumer Financial Protection Bureau ... - Venable LLP

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CONSUMER PROTECTION WORKINGGROUP• Announced in January 2012 (after State of the UnionAddress)• Unit within the Financial Fraud Enforcement Task Forcethat was created in late 2009, and is led by the U.S.Department of Justice (“DOJ”).• Will “address several areas of concern, including … forprofitschools that engage in fraud ormisrepresentation…”• CFPB, FTC, DOJ, DoE Inspector General, state AGs,and more are participating
WHAT’S NEXT AT THE CFPB ANDPRIVATE SCHOOLS? Know Before You Owe Refinement Increased push for voluntary adoption Examinations of Supervised Entities Investigations and Enforcement Nonbank Rulemaking Private Student Loan Study to Congress Consumer Arbitration Report and PossibleProhibition
Page 1 and 2:
What the Consumer FinancialProtecti
Page 3 and 4: AGENDA• Introduction• The Dodd-
Page 5 and 6: WHAT’S THE COST OF NONCOMPLIANCE?
Page 7 and 8: WHERE DOES THE CFPB FIT IN WITH OTH
Page 9 and 10: DODD-FRANK ACT - HOW WE GOT HERE…
Page 11 and 12: CFPB: OVERVIEW AND STRUCTURE
Page 13 and 14: CFPB: OVERVIEW AND STRUCTURECFPB FO
Page 15 and 16: CFPB: OVERVIEW AND STRUCTURECFPB St
Page 17 and 18: CFPB: FOCUS ON PRIVATE STUDENT LOAN
Page 19 and 20: PRIVATE STUDENT LOAN OMBUDSMAN•Pr
Page 21 and 22: CFPB: FOCUS ON STUDENTS• White Ho
Page 23 and 24: CFPB: FOCUS ON STUDENTSStudent Debt
Page 25 and 26: CFPB SERVICEMEMBER AND VETERANINITI
Page 27 and 28: CFPB: Preparing for Supervisionand
Page 29 and 30: WHAT’S HAPPENING AT THE CFPB ONNO
Page 31 and 32: SUPERVISION PROCESS PRINCIPLES• C
Page 33 and 34: CFPB SUPERVISION ANDEXAMINATION MAN
Page 35 and 36: CFPB ENFORCEMENT AUTHORITY• CFPB
Page 37 and 38: CFPB REFERRALS FROM EXAMS• Crimin
Page 39 and 40: WHAT WILL THE CFPB BE LOOKINGFOR?
Page 41 and 42: UNFAIR ACTS AND PRACTICESDEFINEDThe
Page 43 and 44: ABUSIVE ACTS OR PRACTICESDEFINED•
Page 45 and 46: CFPB: NAVIGATING INVESTIGATIONSAND
Page 47 and 48: EARLY WARNING NOTICE OFPOTENTIAL EN
Page 49 and 50: KEY STEPS TO RESPONDING TO ANINVEST
Page 51 and 52: KEY STEPS TO RESPONDING TO ANINVEST
Page 53: CFPB AND SERVICE PROVIDERS TOCOVERE
Page 57 and 58: MAY 2012
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What the Consumer Financial Protection Bureau ... - Venable LLP

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