CFPB's Tips For Firms Under Scrutiny Leave Cos. Guessing

Law360, New York (June 26, 2013, 9:28 PM EDT) -- The Consumer Financial Protection Bureau on Tuesday gave companies some guidance on how best to navigate a bureau investigation, but attorneys caution that a lack of clarity in some of the suggested best practices, including self-reporting potential violations, still leaves companies at risk.

Although the CFPB's bulletin closely mirrors policies in place at other law enforcement agencies, the bureau has so far been more aggressive in its enforcement posture than other regulators. Since there are no guarantees that a company that follows the CFPB's guidance for...
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