By Pamela J. Bethel This is the third blog post in our series about new federal regulatory initiatives in the first half of 2014. Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, one of the lesser-known sections of that broad and extensive statute, requires financial institutions to report information concerning credit...
Tag: Consumer Protection
CFPB Makes Excellent Hire for Director of Minority and Women Inclusion
By Pamela J. Bethel We have already written about Section 342 of the Dodd-Frank Act, which requires that financial regulatory agencies set up Offices of Minority and Women Inclusion. The purpose of these offices is both to encourage diversity of employment within the agencies themselves and to promote diversity in hiring and contracting within the...
Cordray Appointment Is Signal to Industry to Get Its House in Order
By Pamela J. Bethel Now that President Obama has used his recess appointment power and installed Richard Cordray as head of the new Consumer Financial Protection Bureau (CFPB), Cordray has wasted no time in asserting his priorities and getting started with his regulatory agenda. Under the Dodd-Frank law that set up the CFPB to curb...