Uncertainty Over CFPB Tops Banks' Worries, Survey Says

Law360, New York (July 6, 2012, 3:41 PM EDT) -- Banks and other companies subject to regulation by the Consumer Financial Protection Bureau say their top concerns about the fledgling agency are uncertainty over its approach to regulation and enforcement actions, a survey released Thursday by Mayer Brown LLP found.

Even though respondents to Mayer Brown's survey had varied responses to their specific worries about the CFPB, the one common theme throughout interviews was uncertainty, said Jeffrey Taft, a partner with the firm.

“There's still a great sense of uncertainty around there,” he told Law360. “Clients...
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