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Cordray: Consent orders are guidance
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Banking, Consumer Protection, Corporate Governance, Dodd-Frank Basics, Legislation, Nonbank Financial
Friday, March 11, 2016
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In an eventful appearance before the Consumers Bankers Association’s CBA Live conference and Dodd Frank Update, Consumer Financial Protection Director Richard Cordray told the industry that its consent orders are detailed guidance for the industry, and that companies who do not heed their lessons are committing “compliance malpractice.” Read on for industry and Congressional reaction and more details from Cordray on TRID, payday lending and a permanent deputy director.
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