The CFPB's Notice of Proposed Rulemaking clocks in at over 500+ pages. insideARM's Research Assistant NPRM work group condensed it all down to under 60.
The work put into this whitepaper is the basis of the NPRM webinar we produced (and which you can watch here), and comes from several weeks of reading, arguing (in the good way), and and synthesizing.
This whitepaper covers Out of Stat Debt, Locating/Communicating, Validation, Record Retention. Forms & Clauses, Prohibited Behavior, with these questions in mind:
1. What the rule says in practical terms
2. What changes to business practices are likely necessary
3. What stresses are likely to be placed on business
4. What risks there might be to business in this section
5. What open questions remain that the text of the rule doesn't answer
Special thanks to TCN, who sponsored both the webinar and this whitepaper.