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Dodd-Frank Wall Street Reform and Consumer Protection Act Consumer Financial Protection Bureau (CFPB) Pending Legislation

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Robins Kaplan LLP

Your Daily Dose of Financial News

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The US House included the revised Volcker Rule that we’ve discussed in a broader package of Dodd-Frank reforms that it passed with bipartisan support last night. The bill—ostensibly aimed at easing restrictions on small to...more

A&O Shearman

CHOICE Act 2.0 Passes the House: What Is the ‘CHOICE’?

A&O Shearman on

On June 8, 2017, the House of Representatives passed an amended version of H.R. 10, the Financial CHOICE Act of 2017, or CHOICE Act 2.0, which scales back or eliminates many of the post-crisis financial reforms that were...more

Seyfarth Shaw LLP

The Future of Dodd-Frank: Where is it Going?

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Seyfarth Synopsis: Just last week Steve Mnuchin, the Secretary of the Treasury, put forth the first of several Reports proposing financial reforms. Much of the Report makes sweeping changes to Dodd- Frank, the legislation...more

Goodwin

House Passes Financial CHOICE Act

Goodwin on

One month after the U.S. House of Representatives Financial Services Committee passed the Financial CHOICE Act, H.R. 10, with a 34 to 26 vote down party lines, the full House passed the bill on June 8, 2017 with a 233-186...more

Ballard Spahr LLP

Trade associations voice support for commission to run CFPB

Ballard Spahr LLP on

A group of 22 trade associations sent a letter last week to the Chairmen and Ranking Members of the Senate and House Appropriations Committees expressing their “strong support” for the creation of a five-member bipartisan...more

Farrell Fritz, P.C.

Good Choice: Important Capital Formation Reforms in Financial CHOICE Act of 2017 Passed by House

Farrell Fritz, P.C. on

On June 8, 2017, the House of Representatives passed the Financial CHOICE Act of 2017 on a vote of 233-186. Congress loves acronyms, and here “CHOICE” stands for Creating Hope and Opportunity for Investors, Consumers and...more

Ballard Spahr LLP

Treasury report on U.S. financial system recommends significant CFPB reforms

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The report issued earlier this week by the U.S. Treasury Department to President Trump in response to his February 2017 Executive Order 13772, “A Financial System That Creates Economic Opportunities-Banks and Credit Unions,”...more

Snell & Wilmer

“Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs” – House Passes Financial Reform Bill

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On June 8, the House of Representatives passed the Financial CHOICE Act of 2017 in a bid to reform the financial regulatory system created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill, which...more

Hinshaw & Culbertson LLP

Congress Takes a Significant Step Towards Replacing Dodd-Frank and Gutting the CFPB

On June 8, 2017, as we anticipated in a previous blog post, the House of Representatives voted along party lines to pass the Financial CHOICE ACT (“FCA”), which would repeal Dodd-Frank and strip the CFPB of its authority....more

Goodwin

Financial CHOICE Act Passes Committee

Goodwin on

On May 4, 2017, the U.S. House of Representatives Financial Services Committee passed the Financial CHOICE Act, H.R. 10, with a 34-to-26 vote down party lines. The legislation, co-sponsored by Chairman Jeb Hensarling (R-TX),...more

Kramer Levin Naftalis & Frankel LLP

The Financial CHOICE Act Is Approved by US House Financial Services Committee

On May 4, the Financial CHOICE Act (the FCA) — which was introduced to the House of Representatives on April 26 by Rep. Jeb Hensarling (Texas-5), and co-sponsored by seven of his Republican colleagues and referred for...more

Ballard Spahr LLP

House to hold April 26 hearing on revised Financial CHOICE Act

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The House Financial Services Committee announced that it will hold a hearing on April 26, 2017 to discuss the Financial CHOICE Act.  It also released a discussion draft of a revised version of the bill....more

A&O Shearman

Legislation Introduced in the US Congress to Repeal and Reform the Consumer Financial Protection Bureau

A&O Shearman on

H.R. 1018 was introduced in the US House of Representatives which would alter the current governance structure of the Bureau of Consumer Financial Protection. Like a comparable bill that was introduced in the US Senate (S....more

MoFo Reenforcement

House Votes to Nix Indirect Auto Bulletin and Expand QM

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The U.S. House of Representatives passed legislation on November 18, 2015, that would revoke the CFPB’s guidance on indirect auto lending and expand the qualified mortgage rule’s safe harbor. The Reforming CFPB Indirect Auto...more

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