Senate Puts CFPB Confidentiality Bill In Obama's Hands

Law360, New York (December 12, 2012, 6:59 PM EST) -- The U.S. Senate on Tuesday approved a measure to protect confidential documents provided to the Consumer Financial Protection Bureau from being made public, a key fix to the Dodd-Frank Act supported by the banking industry and attorney groups that now awaits the president's signature.

The bill, S. 3394, would give confidential documents that banks and other regulated companies submit to the CFPB the same protections that sensitive documents provided to other banking regulators currently have. Banks and their attorneys had been worried that because the CFPB...
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