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See you in Minneapolis! AACANet will be attending the 2019 Spring Conference in Minneapolis, MN. Don't forget to join us at The Local at Wednesday, May 15, 6:00P - 8:00P for a Networking Reception co-sponsored with KnovaOne and ARMGuard Solutions.


https://files.consumerfinance.gov/f/documents/cfpb_rfi_overdraft-rule.pdf

AACANet has been using the Audit Information Management system developed by ARMGuard Solutions to manage its vendor audits. This program allows AACANet to deploy audit questions, receive responses with supporting documentation and audit the information to assure compliance. While not a replacement for on site visits, AIM helps AACANet oversee its service providers and assure compliance with its standards and the standards of its clients.


http://www.armguardsolutions.com/

CFPB Announces Policy Change Regarding Bureau Civil Investigative Demands WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) announced changes to policies regarding Civil Investigative Demands (CIDs) to ensure they provide more information about the potentially wrongful conduct under investigation. Consistent with the updated policy, CIDs will provide more information about the potentially applicable provisions of law that may have been violated. CIDs will also typically specify the business activities subject to the Bureau’s authority. In investigations where determining the extent of the Bureau’s authority over the relevant activity is one of the significant purposes of the investigation, staff may specifically include that issue in the CID in the interests of further transparency. The new policy takes into account recent court decisions about notifications of purpose, and is consistent with a 2017 report by the Bureau’s Office of Inspector General that em


WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (Bureau) issued a Notice of Proposed Rulemaking (NPRM) to implement the Fair Debt Collection Practices Act (FDCPA). The proposal would provide consumers with clear protections against harassment by debt collectors and straightforward options to address or dispute debts. Among other things, the NPRM would set clear, bright-line limits on the number of calls debt collectors may place to reach consumers on a weekly basis; clarify how collectors may communicate lawfully using newer technologies, such as voicemails, emails and text messages, that have developed since the FDCPA’s passage in 1977; and require collectors to provide additional information to consumers to help them identify debts and respond to collection attempts. “The Bureau is taking the next step in the rulemaking process to ensure we have clear rules of the road where consumers know their rights and debt collectors know their limitations,” said CFPB Direct


https://files.consumerfinance.gov/f/documents/cfpb_debt-collection-NPRM.pdf

WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) published a notice on how it plans to periodically review regulations under the Regulatory Flexibility Act (RFA) and to request public input. Additionally, the Bureau published a notice requesting public input as part of its first RFA review examining the 2009 Overdraft Rule. In Section 610 of the RFA, Congress specified that agencies review certain rules within 10 years of their publication, and consider the rules’ effect on small businesses. The purpose of the review is to minimize any significant economic impact of the rules upon a substantial number of small entities, consistent with the stated objectives of applicable statutes. At the conclusion of each review, the Bureau will determine whether the rule should be continued without change, or should be amended or rescinded. The RFA requires each agency to invite public comment on each rule undergoing review and to consider specific factors, including: •


https://files.consumerfinance.gov/f/documents/cfpb_rfi_overdraft-rule.pdf