Where Does HR 4014 Leave CFPB's Supervised Entities?

Law360, New York (December 21, 2012, 1:09 PM EST) -- On Dec. 11, 2012, the U.S. Senate passed House Bill 4014 (HR 4014) without amendment and sent it to the president for signature. HR 4014 is the long-awaited and much sought-after legislation that amends the Federal Deposit Insurance Act (FDIA)[1] in order to protect banks[2] and nonbanks[3] that are subject to the Consumer Financial Protection Bureau’s supervision and examination authority from unintended waiver or destruction of a privilege that they could have otherwise claimed as to third parties. And while there is cause to be somewhat...
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