On February 25, 2019, the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB or Bureau) have renewed their Memorandum of Understanding. The memorandum recognizes that both agencies share the responsibility of protecting consumers and enforcing consumer financial protection laws under the Consumer Financial Protection Act of 2010. The cooperative agreement seeks to avoid duplicative work by the agencies.
The Memorandum, signed by the CFPB’s Director Kathy Kraninger and the FTC’s Chairman Joseph Simons, discusses several areas of cooperation. Four areas in particular are of interest to the ARM industry.
1. Enforcement Actions
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