The Dodd-Frank Wall Street Reform and Consumer Protection Act created the Consumer Financial Protection Bureau (CFPB) to regulate consumer financial products and services. While the CFPB was launched on July 21, it has initially focused on setting up the organization and developing administrative policies and procedures. With these initial organizational activities starting to wind down, the CFPB will undoubtedly turn its focus to rulemaking, supervision, examination and enforcement during the coming months. With its vast powers and authority, the CFPB’s activities will have a profound and lasting impact on the financial services industry, its service providers and other unsuspecting parties.
Please join Andrew Pincus, Richard Rosenfeld and Jeffrey Taft for a review of the CFPB’s first three months and a discussion of the expectations for the new year regarding:
- Rulemaking and other regulatory initiatives
- Supervision, examination and regulation of consumer financial products and services
- Confirmation of a director and the structure of the CFPB
- Possible targets for enforcement activities and the role of state AGs
Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.