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  • #3448
    BNach
    Member

    The CFPB has been issuing Small Entity Compliance Guides. Who does this apply to? I can’t find anywhere where they define what they mean by Small Entity. Please include a reference where this can be found. Thank you.

    #3451
    cmitchell
    Member

    I believe that small entities refer to the banks under the $10B asset size that is supervised by the CFPB.

    #3452
    BNach
    Member

    Really? Why don’t they just say that?

    #3455
    rcooper
    Keymaster

    I agree with cmitchell. They’re trying to assist banks without a large compliance staff. There’s no real limit on size of bank to which they apply.

    The intros of the SECGs state:

    Our goal with this guide is to provide a comprehensive rule summary in a plain language and FAQ format, which makes the content more accessible and consumable for a broad array of industry constituents, especially smaller businesses with limited legal and compliance staff.

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