What the Consumer Financial Protection Bureau ... - Venable LLP
What the Consumer Financial Protection Bureau ... - Venable LLP
What the Consumer Financial Protection Bureau ... - Venable LLP
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DODD-FRANK ACT-HOW WE GOT HERE…<strong>Consumer</strong> <strong>Financial</strong> <strong>Protection</strong> Act of 2010• Title X of <strong>the</strong> Dodd-Frank Act.• Consolidates many federal consumer protectionresponsibilities into a new <strong>Bureau</strong> of <strong>Consumer</strong> <strong>Financial</strong><strong>Protection</strong> (not Agency)• Strips rulemaking authority for a host of federal consumerstatutes from o<strong>the</strong>r agencies and authorizes CFPB toprescribe uniform rules• Strips federally-chartered institutions of a significantdegree of charter preemption authority• Consolidates and Duplicates various supervisory andprogram authority areas related to nonbank products andservices, including private student loans.
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