CFPB’s Supervisory Highlights: One-click away rule

by David Park, NAFCU Compliance Blog

The CFPB recently released Supervisory Highlights, issue number 19 (Supervisory Highlights). The Supervisory Highlights reported some of the CFPB’s examination findings for exams that the CFPB completed between December 2018 and March 2019. The Supervisory Highlights covered the following topics:

  • Automobile loan origination and the risk of an unfair, deceptive, or abusive act or practice in the context of guaranteed asset protection (GAP) add-on products.
  • Debt collection and compliance with the Fair Debt Collection Practices Act.
  • The duties of furnishers of information under the Fair Credit Reporting Act related to accuracy and dispute handling requirements.
  • Mortgage origination activities and the failure to provide accurate APR disclosures as required by Regulation Z.
  • Credit card account management and compliance with Regulation Z.

 

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