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CFPB to Create ‘Corporate Offender’ Registry

It will also capture those subject to consent orders, a common outcome of settlement deals. That means companies that legally resolved issues without admitting wrongdoing will be included in the registry.

The consumer bureau said it would omit banks and credit unions — a frequent target of regulatory fines and penalties — from the registry because the four federal regulators who cover that industry already publicly publish their consumer protection orders. But it may cover some bank holding companies.

Business lobbyists forcefully opposed the plan, which the bureau first proposed in late 2022. Six trade groups, including the U.S. Chamber of Commerce, sent a letter to the bureau last year criticizing the proposed registry as burdensome and unnecessary.

“Naming and shaming companies and their executives may win headlines and collecting consent orders may give plaintiffs’ attorneys a road map for litigation, but neither helps consumers,” the groups wrote.

Supporters argued that such a registry would help people evaluate the companies they do business with. Public Citizen, an advocacy group, said a “public rap sheet for corporations” would help consumers “see if a particular company is worth the risk.”


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