View Rule

On February 1, 2023, the CFPB proposed a rule that would require certain supervised nonbank entities to register with the CFPB and provide information about their use of certain terms and conditions in standard-form contracts for consumer financial products or services that seek to waive or limit consumer rights or legal protections.  In particular, the proposed rule would collect information on these standard terms and conditions used in form contracts that are not subject to negotiation.  Under the proposal, the CFPB would establish a publicly accessible registry that identifies registrants and, subject to applicable law, publish information that registrants submit to the registry about their use of covered terms and conditions.