The CFPB's Mission Continues To Grow In Size And Scope

Law360, New York (October 2, 2014, 10:40 AM EDT) -- The Consumer Financial Protection Bureau is moving into its fourth year of regulating — and in many ways transforming — the consumer financial services regulatory landscape.

Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFPB has taken significant steps to define its role in the consumer financial services industry and to establish itself as a major regulatory player. There's no doubt that the CFPB has already had a significant impact on the industry, by adopting new industry-shaping regulations, capturing the voice of consumers through its complaint portal and exercising supervisory and enforcement authority.

As a result, banks and...

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