Reprinted with the permission of Developments magazine.

The Consumer Financial Protection Bureau (CFPB) is just over a year old. After a few false starts, it is now fully engaged in a rule-making rampage. In addition to the prolific rule-making and guidance, this heavily funded federal agency is involved in aggressive investigations and enforcement. 

Because these rules and investigations govern and influence financial transactions in the vacation ownership industry, ARDA and many of its members have been closely monitoring the changes proposed by the CFPB. ...