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Home > CFPB > CFPB Signals Renewed Enforcement of Tribal Lending
The CFPB has sent different messages regarding its approach to regulating tribal lending in recent years. The CFPB pursued an aggressive enforcement agenda that included tribal lending under the bureauâ€™s first director, Richard Cordray. After Acting Director Mulvaney took over, the CFPBâ€™s 2018 five-year plan suggested that the CFPB had no intention of â€œpushing the envelopeâ€ by â€œtrampling upon the liberties of y our residents, or interfering with sovereignty or autonomy associated with states or Indian tribes.â€ Now, a decision that is recent Director Kraninger signals a come back to an even more aggressive position towards tribal financing pertaining to enforcing federal customer economic regulations.
On February 18, 2020, Director Kraninger issued a purchase doubting the request of lending entities owned because of the Habematolel Pomo of Upper Lake Indian Tribe setting apart certain CFPB civil investigative needs (CIDs). Weiterlesen