On 6/16/2020, the CFPB issued a new compliance aid to provide financial institutions with additional information relating to the CARES Act and this COVID-19 pandemic. This new guide (Version 1) reiterates the Bureau’s April 1, 2020 “Statement on Supervisory and Enforcement Priorities Regarding the Fair Credit Reporting Act and Regulation V in Light of the CARES Act” and provides ten questions and answers to assist financial institutions in understanding Bureau expectations.
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