CFPB Says Rule Will Safeguard Banks' Sensitive Docs

Law360, New York (March 12, 2012, 7:54 PM EDT) -- The Consumer Financial Protection Bureau on Monday addressed banks' fears that it would disclose privileged information by proposing a rule guaranteeing that it would protect confidential documents and other information from requests made by outside groups.

The CFPB said that its proposal was designed to provide further assurance to banks that sensitive information provided to the bureau as part of policy reviews would be shielded from requests made through the court system by competitors, consumer groups and other outside actors.

Monday's proposed rule comes just weeks...
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