Dodd-Frank Critics May Not Embrace CFPB Oversight Deal

Law360, New York (June 4, 2012, 8:31 PM EDT) -- The Consumer Financial Protection Bureau and federal banking regulators on Monday laid out how they will coordinate supervision of large banks and credit unions under Dodd-Frank reforms, but the agreement may not go far enough to ease industry concerns that they will be in for a severe increase in oversight. 

According to the memorandum of understanding between the CFPB, the Federal Reserve System, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the National Credit Union Administration, the regulators will coordinate...
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