Chicago, CFPB To Share Predatory Lending Data

Law360, New York (December 5, 2012, 6:58 PM EST) -- The city of Chicago on Wednesday agreed to share information it collects about predatory lending and financial scams within its jurisdiction with the Consumer Financial Protection Bureau, making it the first municipality to enter into such an agreement.

As part of the agreement announced by CFPB Director Richard Cordray and Chicago Mayor Rahm Emanuel, the new federal agency said that it would share its "strong analytical tools" to better protect Chicago's consumers. The CFPB would also assist the city in going after fraudsters using its "broad...
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