Having reviewed the CFPB’s publication on the upcoming non-bank registry portal. I wished to the touch base with anyone on this group who could possibly share their ideas. I work in compliance at a Fintech bank card firm that isn’t regulated by the CFPB and has not been topic to any public orders pertaining to violations of shopper safety legal guidelines, so I don’t imagine that we might be required to register for this new portal.
However right this moment I referred to as the CFPB and spoke with a consultant who was much more confused about this than I used to be, and couldn’t give me a solution come what may. This has induced me to second-guess myself and whether or not or not we might be required to register for this. Though I don’t imagine It’s relevant to us, I don’t wish to not register our firm within the portal and are available to seek out out later that we really ought to have. What are your ideas and experiences with this? I’m 99.99% certain that I’m merely overthinking this, however would admire any insights opinions and confirmations of my very own ideas if relevant.
Cheers!
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