CFPB Taskforce Report (Part 2): The 19 Focus Areas and 102 Recommendations of Volume 2 Published on: 7 January 2021 at 11:00 a.m. ET Jan. 7, 2021, 11 a.m. March 5, 2021, 9:56 p.m. insideARM.com The iA Institute
http://www.insidearm.com/news/00046966-cfpb-taskforce-report-part-2-19-focus-are/
Editor s Note: Read Part 1, A Deep Dive Into the 4 Main Debt Collection-Related Topics of Volume 1,
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to the CFPB, not mandates or recommendations
from, (although they may become mandates at some point in the future if acted on by the Bureau s director).
Alternative Data
The Taskforce is interested but worried.
Alternative Data are pieces of consumer information not traditionally incorporated into a consumer s credit report: rent payments, for example, or utility bill payments. Deepening the pool of information available to creditors can help both the creditor and the consumer. So, as far as that goes, the Taskforce is for it.
Francina R Harrison MSW, Founder of The Career Engineer and TheCareerEngineers, a service of Harrison & Associates, Virginia Beach
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Every change in presidential administration results in shifts to agencies’ policy priorities and enforcement efforts. In a Biden Administration, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”), in particular, is expected to undergo significant changes. Headlines will focus on potential replacements of the CFPB Director, an issue which has been controversial in the past and may take months to address through the nomination and confirmation process in 2021.[i] But equally important will be a shifting enforcement focus: we anticipate that, under President-Elect Biden, the CFPB will revive the “disparate impact doctrine” (the “Doctrine”) as a means for curtailing business practices that result in racial disparities, whether intended or not. Although there has been significant debate about the Doctrine’s validity as applied to the Equal Credit Opportunity Act of 1974 (“ECOA”), codified at 1
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Community engagement and sustainability should be linked to profitability – CEU Boss, NBA President
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As issues such as climate change, environmental degradation and inclusion become increasingly important, it has become pertinent for businesses to put sustainability at the core of their business strategy.
Renewable Energy expert and Sustainability advocate, Doyin Fadipe, asserted this at the recently concluded Sustainability in the Extractive Industries (SITEI) Conference, held virtually with the theme, Inclusive Communities, Inspired Women. The event gathered a vast array of key stakeholders including to deliberate on pathways for empowering women and fostering inclusion in Nigerian communities where resource extraction is taking place.