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Posted by CarolF/NC on 11/8/13 10:48pm
Msg #492040

Read this.

http://www.klgates.com/unlucky-day-for-consumer-financial-servicer-providers--the-cfpb-issues-its-vendor-management-bulletin-on-friday-the-13th-05-11-2012/

And put it with the code of conduct.

Google 'contract' employee

Reply by MAC/WA on 11/8/13 10:53pm
Msg #492042

Good analysis:CFPB fails to assess impact on small business

as requiried by law.

Reply by JanetK_CA on 11/9/13 12:40am
Msg #492045

Re: Good analysis:CFPB fails to assess impact on small business

That's a key part that stood out to me, as well. It looks to me like it's going to be some time before the full affect of this is all figured out. But we shouldn't have any illusions about the fact that the SPW and its proposals are a direct result of what the CFPB is doing. (Whether or not XYZ saw an opportunity and went for it, is a separate issue altogether.)

One way or another, I believe these CFPB initiatives - and the pressure they will be putting on lenders to comply - will have a significant impact on the way our industry conducts business, and perhaps on our role in it. Hopefully this will result in cleaning up some of the sloppiness in how the lending business is conducted from the top down, as much as we might hate it. Now, as for *how* it is being done, let's hope they're serious about wanting input from those of us on the front lines. There are clearly some "tweaks" that need to happen for us all to not look ridiculous in certain situations (and I'm including lenders and title co's in that), and for those of us who actually meet face-to-face with the customers to be treated fairly.


Reply by Christine/OK on 11/9/13 4:31am
Msg #492053

LIKE!! :D n/m

Reply by ikando on 11/9/13 5:03pm
Msg #492115

Re: Good analysis:CFPB fails to assess impact on small business

You echo my thoughts.


 
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