In a recent blog on the Bacchus-Capito letter to CFPB Director Richard Cordray, possible “legislative fixes” to the highly publicized privilege waiver issues involving the Bureau and possible amendments to 12 U.S.C. §§ 1821(t) and 1828(x) were discussed.  The major shortcoming identified with regard to such amendments was the persistent problem of the Bureau’s sharing privileged information, whether obtained from a regulated entity or from another federal regulatory agency, with State Attorneys General or other law enforcement authorities.… Continue Reading

According to an announcement on its website, the CFPB has signed an agreement with the FTC that not only allows the CFPB to access complaints on the FTC’s Consumer Sentinel database but under which the CFPB will also share with the database complaints it receives from consumers. In addition to the FTC, the database can be accessed online by more than 50 other federal agencies and offices as well as approximately 120 state agencies, 330 local agencies and 19 foreign agencies.… Continue Reading