Consumer Financial Protection Bureau: The First Year


Originally published in Thomson Reuters' UCC Law Journal on November 1, 2012.

Table of Contents:

Establishment Of The Consumer Financial Protection Bureau (CFPB)-

Designated Transfer Date; Key Denitions; Covered Persons; Consumer Financial Protection Functions; Federal Consumer Financial Law and Enumerated Consumer Laws; Unfair, Deceptive and Abusive; Transfer of Functions; Federal Banking Agencies and National Credit Union Administration (“NCUA”); Federal Trade Commission (“FTC”); Department of Housing and Urban Development (“HUD”); and Recess Appointment of Richard Cordray.

Rulemaking And Policy Development Initiatives -

Consumer Complaint System; Deposit Accounts and Overdraft Protection; Prototype Credit Card Agreement; General-Purpose Reloadable Prepaid Cards; Request for Comment on Payday Loan Practices; Revised Mortgage Disclosures; New Remittance Transfer Requirements; and Amending Account-Opening Fee Limits

Supervisory Initiatives -

Examination Procedures Released; Production of Privileged Information in Examinations; “Larger Participant” Rulemaking; and Procedures for Designating Nonbanks Posing Risks to Consumers.

Enforcement Initiatives -

“Early Warning Notice” Procedure; Bulletin on Fair Lending Enforcement; Procedural Rules Issued; and First Enforcement Action.

Please see full law journal below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.