Business Law And Ethics : Attorney Guidance

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Business Law and Ethics Attorney Guidance to an Entrepreneur Constitutional Rights: The first amendment was made for protection of speech and commercial speech. There are many entrepreneurs that are selling information and parts of the constitution will protect those businesses as they have liberty to economic freedom as well (Bonham, 2013). It is the right of those businesses or entrepreneurs and not the governments right to choose what occupation to pursue (Bonham, 2013). Some successful entrepreneurs are those that publish books, software, newsletters and websites (Three steps you must take to Ensure CFPB Compliance). BackOffice has entrepreneurs that are developing a software app and a service for that app. The …show more content…

There are new regulations and periodic audits that can be of concern, however, there are ways to be proactive as well. If the vendors are breaking rules, even if performing well, than the company is still liable for those actions as well (Three steps you must take to Ensure CFPB Compliance). It is also unethical or non compliant to break the rules (Three steps you must take to Ensure CFPB Compliance). Having an audit process in place with documentation and expectations from the vendors, focusing on long term performance while learning about CFPB compliance measures will help to understand the CFPB. Though all companies have freedom of speech and right to economic liberty as stated in the constitutional rights, BackOffice has every right to sell a software app and an app service to perform certain functions such as receiving payments for sales and services. Since 2010 when CFPB was created with the help of the Dodd– Frank Act, it is known that a consumer financial product or service is a financial product or service offered or provided for use by consumers primarily for personal, family, or household purposes (Three steps you must take to Ensure CFPB Compliance). BackOffice will need to understand what items should be done to be proactive and compliant so it does not pay excessive fines and penalties. CFPB has every right to create regulations to protecting the consumer. Organizations,

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