the Consumer Financial Services Group
When it makes its debut on July 21, 2011, the Consumer
Financial Protection Bureau (CFPB) intends to immediately launch its
supervision program for large banks.
In a release issued on July 12, 2011, the CFPB outlined its
approach for exercising its supervisory authority over the 111 depository
institutions that have total assets of more than $10 billion and their
subsidiaries and affiliates. According to the CFPB, these institutions
collectively hold more than 80 percent of the banking industry's assets. This
supervisory authority was given to the CFPB by the Dodd-Frank Wall Street
Reform and Consumer Protection Act.
In preparing for its new role, the CFPB reviewed
information from federal and state regulators about the depository institutions
for which it will be responsible. Highlights of the CFPB's supervisory program
include the following:
Ballard Spahr's Consumer Financial Services Group is
nationally recognized for its guidance in structuring and documenting new
consumer financial services products, its experience with the full range of
federal and state consumer credit laws throughout the country, and its skill in
litigation defense and avoidance (including pioneering work in pre-dispute
arbitration programs). For more information, please contact group Chair Alan S.
Kaplinsky, 215.864.8544 or email@example.com; Vice Chair Jeremy T.
Rosenblum, 215.864.8505 or firstname.lastname@example.org; John L. Culhane, Jr.,
215.864.8535 or email@example.com; Mercedes K. Tunstall, 202.661.2221 or
firstname.lastname@example.org; Barbara S. Mishkin, 215.864.8528 or
email@example.com; or Mark J. Furletti, 215.864.8138 or
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