For CFPB Targets, Insurance Coverage Could Be A Headache

Law360, New York (May 2, 2013, 7:44 PM EDT) -- Financial firms that could be a target of Consumer Financial Protection Bureau investigations need to double-check the fine print on their insurance policies, experts say, warning that probes and settlements reached with a new financial system enforcer may not be automatically covered.

The CFPB's authority over banks, mortgage companies, debt collectors, payday lenders, student lenders and other firms has given those firms an additional regulatory agency to worry about, and one that has vowed to bring a heavy enforcement hand.

With vigorous enforcement comes the costs...
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