CFPB's Watchful Eye To Sharpen In Coming Months

Law360, New York (August 15, 2011, 3:35 PM EDT) -- Despite opening without a confirmed director and limited enforcement power, the new Consumer Financial Protection Bureau has already begun to cast a more watchful eye on common financial practices, a move that will permanently change the way banks and other institutions are regulated, attorneys say.

The new bureau, which opened for business on July 21, brings under one roof consumer financial protection authorities that were previously spread among seven federal agencies, with the CFPB becoming responsible for the Real Estate Settlement Procedures Act, the Truth in...
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