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let me make it clear about Financial Services Perspectives

let me make it clear about Financial Services Perspectives

Regulatory, conformity, and litigation developments within the services that are financial

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 bureau’s first director, Richard Cordray. After Acting Director Mulvaney took over, the CFPB’s 2018 five-year plan suggested that the CFPB had no intention of “pushing the envelope” by “trampling upon the liberties of y our residents, or interfering with sovereignty or autonomy associated with states or Indian tribes.” 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.

Background

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