The Bureau of Consumer Financial Protection (Bureau) published a policy statement on new compliance resources known as “Compliance Aids (“Aids”).” These “Aids” illustrate requirements for existing rules and statutes in a useful and practical manner, including suggestions on how to comply with certain rules and statutes, to compliance professionals, industry stakeholders, and the general public. The policy statement indicated that these “Aids” are not going to address all situations, and entities are not required to comply with the “Aids” themselves, just the underlying rules and statutes.

The policy statement becomes applicable on February 1, 2020.

For more information, visit this link.