Los Angeles Managing Partner Douglas Thompson was quoted at length Feb. 24 by Legal Newsline concerning risk management issues surrounding publically available information on the Consumer Financial Protection Bureau’s (CFPB) website and the negative implications this information can have. “The age of big data and big information is upon us, I don’t know that we can go back and undo it,” he said. “So I think that business has to change its approach to understand that all types of this information” are available and potentially can be leveraged. Thompson also explained that the complaints and institutional responses logged by the CFPB may have a causal effect on consumer relations, and may lead consumers who read complaints to expect mistreatment from an institution. Thompson focuses his practice on defending businesses and financial institutions from consumer class action litigation risk. Click here to read the full article.
Legal Newsline referenced a BankBryanCave blog post Thompson authored on this topic. Click here to read his original post.