Unreasonable Obstacles on Consumers

The CFPB issued an Advisory Opinion regarding Section 1034(c) of the Dodd Frank Act, which generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers for basic information about their own accounts. Large banks and credit unions under the CFPB’s regime must provide complete and accurate account information when requested by accountholders. The Advisory Opinion clarifies that … Read More

September’s Regulatory Recap

September’s Regulatory Recap is now available here. It includes updates to TILA thresholds, proposed regulatory capital rules, and guidance on representment fees, pig butchering, and artificial intelligence on Adverse Action Notices. Please be advised that CSG provides financial services compliance audit and consulting services to our clients.  The services that we provide include certain tasks that may be characterized as … Read More