Consumer Financial Protection Bureau: Ready for Launch?
Posted by William Byrnes on November 28, 2011
Despite the best efforts of Congressional Republicans, the ribbon-cutting for the U.S. Consumer Financial Protection Bureau (CFPB) is on schedule for next month. And unlike other Dodd-Frank progeny, this project looks like it’s going to hit the ground running.
The stated mission of the CFPB is to “make markets for consumer financial products and services work for Americans—whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.” After the mortgage debacle of the recent financial crisis and stories about predatory practices in the credit card and pay-day loan industries, who can argue with that mission statement?
Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all the planning libraries and client presentations if you are not already a subscriber).
For previous coverage of the fight over Dodd-Frank in Advisor’s Journal, see Is Barney Frank’s Resolve to Implement Dodd-Frank Weakening? (CC 11-95) & Republicans Look to Erode Dodd-Frank (CC 11-75).
This entry was posted on November 28, 2011 at 09:56 and is filed under Wealth Management. Tagged: Barney Frank, CFPB, Credit card, Dodd-Frank, Dodd–Frank Wall Street Reform and Consumer Protection Act, Financial services, Republicans, United States. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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