Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this.
CFFP States consumer reviews impact company revenue and help consumers choose between financial providers, incentivizing dishonest market participants to attempt to manipulate the review process, rather than compete based on value, frustrating a competitive marketplace.
On March 22, the CFPB issued Compliance Bulletin 2022-05 regarding potentially illegal practices related to consumer reviews. The guidance states that consumer reviews impact company.
The U.S. Department of Labor (the "DOL") issued its first guidance regarding cryptocurrency investments by ERISA plans on March 10, 2022. The guidance – a Compliance Assistance Release regarding "401(k).