Prior to the enactment of the CFPB the Federal Trade Commission and federal financial regulators were responsible for enforcing the FCRA.
The Consumer Financial Protection Bureau (CFPB) was created as part of the Dodd-Frank Consumer Protection Act of 2010. The CFPB consolidated most Federal consumer financial protection authority within one agency. The CFPB has direct supervisory authority over financial institutions with assets over $10 billion. Although the CFPB does not have supervisory authority over the vast majority of financial institutions the regulations it enacts impact all financial institutions no matter their size. In addition to supervising financial institutions, the CFPB also was given the authority to supervise larger financial participants ranging from credit reporting agencies to collection agencies and even law firms. This video provides details on recent CFPB interpretations and compliance with CFPB mandates.
Matthew D. Urban
Weltman, Weinberg & Reis Co., L.P.A.
- Managing attorney of the credit union group in the Pittsburgh office of Weltman, Weinberg & Reis Co., L.P.A.
- Oversees all facets of credit union collection, litigation, and compliance work across Pennsylvania
- Practices in consumer collections, focusing on general consumer collection and litigation matters
- Member of the Allegheny County Bar Association
- Licensed in Pennsylvania and is admitted to practice before the U.S. District Court (Western and Middle District of Pennsylvania)
- Serves as vice president in charge of education for the Pennsylvania Creditors’ Bar Association
- J.D. degree, Duquesne University School of Law; B.A. degree in history, magna cum laude, West Virginia University
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