CONSUMER FINANCIAL PROTECTION BUREAU ISSUES PROPOSED RULE: REGISTRY OF NONBANK COVERED PERSONS SUBJECT TO CERTAIN AGENCY AND COURT ORDERS; PROPOSED RESCISSION

WASHINGTON, May 14 -- Consumer Financial Protection Bureau has issued a proposed rule called: Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders; Proposed Rescission.

The proposed rule was published in the Federal Register on May 14 by Russell Vought, Acting Director, Consumer Financial Protection Bureau.

Summary: The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing to rescind its rule requiring certain types of nonbank covered persons subject to certain final public orders obtained or issued by a government agency in connection with the offering or provision of a consumer financial product or service to report the existence of the orders and related information to a Bureau registry.

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