Tuesday, July 31, 2012
Fitch: CFPB's Enforcement Will Increase Costs
Fitch released an article today (tweeted here) describing its belief that financial firms will face higher costs because of CFPB's "activism." Fitch describes the CFPB's efforts in disclosures and in the CARD act as two areas that the CFPB will continue to focus on. In addition, Fitch commented that compliance and marketing costs will increase for all firms because of the penalties that are arising as a result of enforcement actions. Find a link to the article on our twitter page and at the right side of the Dodd-Frank Tracker home page.