BNPL providers should consider the FTC's suggestion to "conduct a compliance check," including reviewing their policies and procedures.
JoinedApr. 14, 2022
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Lauren Sartwell joined Klaros from Intuit Inc. where she oversaw product compliance and consumer protection for several of Intuit's regulated financial services products. In her time at Intuit, Lauren worked closely with business partners and stakeholders to assess risks, define compliance requirements, and implement controls to launch new and innovative consumer and small business offerings, including several partner-based products. Before leaping to Fintech, Lauren built her career at community, regional, and large financial institutions in various compliance and internal audit roles. She established compliance audit functions, coordinated and responded to state and Federal examinations, and conducted second-line compliance testing.Lauren received her BAs in English and Political Science from Iowa State University and is a Certified Regulatory Compliance Manager.
The rule opens a large swath of finance companies, loan platforms, and financial product comparison sites to CFPB oversight and enforcement.
CFPB Director Rohit Chopra made it clear that repeat offenders of consumer protection laws will face harsher penalties than ever before.