Removing Barriers Blog

FTC and CFPB Reauthorize Memorandum of Understanding
Posted February 26, 2019 by Chandler Schuette

The FTC and CFPB reauthorized a memorandum of understanding between the agencies. The agreement recognizes the ongoing coordination between the two agencies under the terms of the Consumer Financial Protection Act, and is designed to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts.

The Commission voted 5-0 to approve the reauthorization, which was subsequently signed by CFPB Director Kathy Kraninger and FTC Chairman Joseph Simons.  

In addition, today the FTC provided the CFPB with an annual summary of its activities enforcing the Equal Credit Opportunity Act (ECOA).