Consumer Financial Services Industry, Meet Your New Regulator
By: Melanie H. Brody, Stephanie C. Robinson
The centerpiece of the Dodd-Frank Act from a consumer protection standpoint is Title X, the Consumer Financial Protection Act of 2010. The Act will create a powerful consumer financial protection watchdog, the Bureau of Consumer Financial Protection. The majority of existing federal consumer financial protection laws will come under the Bureau’s purview, and the Bureau will have broad authority to enforce those laws and to issue its own rules under the Act. This alert describes the Bureau, including its structure, objectives, functions, jurisdiction, rulemaking authority and enforcement powers.
To view the complete alert online, click here.
This client alert is part of a series of alerts focused on monitoring financial regulatory reform. Below is a list of other alerts in the series:
New Executive Compensation and Governance Requirements in Financial Reform Legislation – July 7, 2010
Financial Regulatory Reform – The Next Chapter: Unprecedented Rulemaking and Congressional Activity – July 7, 2010
Investor Protection Provisions of Dodd-Frank – July 1, 2010
Senate Financial Reform Bill Would Dramatically Step Up Regulation of U.S. and Non-U.S. Private Fund Advisers – June 8, 2010
Approaching the Home Stretch: Senate Passes “Restoring American Financial Stability Act of 2010” – June 8, 2010