Raleigh counsel Steve Carey was quoted in Inside the CFPB about the Consumer Financial Protection Bureau's sweeping new arbitration rule. Steve, who has co-authored a blog about the new rule, discussed the importance of affected businesses working toward compliance and highlighted the rule's often-overlooked reporting requirements.
“Information that typically has been confidential, depending on how the bureau sets up the reporting system, could become public," Carey said. "If that information gets out, it could create the potential for follow-on litigation."
Inside the CFPB is a biweekly newsletter that's been a leading source of mortgage regulatory news, analysis and tips since the 1990s. Subscribers can read the full article here.