CFPB Follow IRS and Extends Their Reach

01/28/2016
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Like the IRS, the CFPB has extended their statue of limitations reach.  They can now go back and find you or your company for violations that occurred over 3 years ago.  Hey, why should the IRS get to be the most hated entity in the world right?

Comments

comments

Comments
  • I can hear the audio, but the video doesn’t play…This has been a consistent problem lately.

    Greg King January 28, 2016 7:32 am Reply
  • It is important to note that the CFPB only asserts that the 3 year SOL does not apply to UDAAP. This argument has yet to be ruled upon, and will likely take years as other big players contest it.

    With respect to RESPA the CFPB probably has good legal ground to stand on in exempting the 3 year SOL as HUD arguably had that power long before Title X. Granted, HUD never, to my knowledge, asserted this, but the law seems relatively clear.

    marcus January 28, 2016 9:17 am Reply

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