×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: consumer financial protection bureau

Consumer Watchdog Plans 'Dedicated Units' to Thwart Repeat Offenses

Chopra
Rohit Chopra, director, Consumer Financial Protection Bureau (Getty Images)

Monday, 28 March 2022 01:59 PM EDT

The U.S. Consumer Financial Protection Bureau (CFPB) plans to establish "dedicated units" within its enforcement and supervision divisions to better detect repeat corporate offenders, the watchdog's director said on Monday.

The CFPB is looking at "structural remedies" aimed at holding large institutions more accountable for repeated misconduct, director Rohit Chopra said at a University of Pennsylvania law school event.

Regulators need to do a better job of working with the remedies they have at hand to raise the stakes of corporate misconduct, he said, highlighting limitations on a company's leverage, revoking government-granted privileges and bans on certain business practices.

The CFPB will be boosting collaboration with state licensing officials so that states can better ascertain whether a company's business licenses should be suspended or whether assets should be liquidated, Chopra said.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
The U.S. Consumer Financial Protection Bureau (CFPB) plans to establish "dedicated units" within its enforcement and supervision divisions to better detect repeat corporate offenders, the watchdog's director said on Monday.
consumer financial protection bureau
131
2022-59-28
Monday, 28 March 2022 01:59 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved