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Financial Reform Legislation: Are You Prepared for What's Coming?

Passage of the landmark Dodd-Frank Wall Street Reform and Consumer Protection Act, the most far-reaching financial regulatory legislation since the Great Depression, has set the stage for major adjustments in the financial services industry. The Act impacts regulation, supervision, and in some cases...

Is this a Brave New World? Implications of the CFPB and the FTC for Nonbank Financial Services Providers

The Dodd-Frank Act contemplates the creation of a new Consumer Financial Protection Bureau (CFPB) within the Federal Reserve. CFPB would be responsible for consumer protection over financial products and services offered by both banks and nonbanks, including mortgage lenders, captive finance companies...

Which One of Us Is the Service Provider? The Dodd-Frank Act's Infinite Loop of Oversight

by Valerie L. Hletko and Sarah E. Hager A centerpiece of CFPB supervision is service provider oversight but assigning roles is not always straightforward. A lack of clarity may lead to duplicative, simultaneous oversight. While there is substantial guidance as to the what in service provider oversight...

Are You Ready? New Dodd-Frank Mortgage Rules Set for Early 2014

In the 1970s, the expression “future shock” made its way into common use. It started, of course, with Alvin Toffler’s hugely successful book with that phrase as its title. Like others, Toffler had observed the overwhelming effects on post-industrial societies that were experiencing...