Consumer Financial Protection Bureau: Open For Business

 

Law360, New York (August 09, 2011, 12:46 PM ET) -- On July 21, 2011, the Bureau of Consumer Financial Protection (BCFP) began official business under the Consumer Financial Protection Act of 2010 (Title X of the Dodd-Frank Wall Street Reform and Protection Act). On that date, known as the designated transfer date, all consumer financial protection functions of the following federal regulators were transferred to the BCFP[1]:

Board of Governors of the Federal Reserve Board Comptroller of the Currency Director of the Office of Thrift Supervision Federal Deposit Insurance Corporation National Credit Union Administration

With respect...
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