NACA and Public Interest Groups Submit Comment to CFPB Opposing Changes to Larger Participant Definitions

NACA joined public interest groups on a comment submitted to the Consumer Financial Protection Bureau in response to four advance notices of proposed rulemaking on whether to change the definition of a larger non-bank participant in the auto finance, debt collection, credit reporting, and international money transfer markets. The comment opposed any change in definition that would reduce the number of companies deemed larger participants subject to CFPB supervision.