CFPB Director Says Preventing Consumer Harm Is Top Priority

Law360 (April 17, 2019, 6:31 PM EDT) -- The Consumer Financial Protection Bureau's new director said Wednesday that she plans to use the agency's tools to focus on preventing consumer harm, outlining an agenda that includes rethinking the supervisory process, clarifying the standard for "abusiveness," and releasing draft debt collection regulations.

In a speech in Washington, CFPB Director Kathy Kraninger singled out prevention as the "best application" of the agency's educational, rulemaking, supervisory and enforcement functions, and she laid out a vision for her tenure that emphasized restraint and reflection in the execution of the agency's consumer protection mission.

Kraninger also previewed initiatives that the CFPB is undertaking as...

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