The bureau’s priorities don’t have to be a mystery; its publications and key contacts can keep financial institutions informed.
Boston, July 24, 2018 – The Consumer Financial Protection Bureau (CFPB), which is now officially renamed the Bureau of Financial Protection or simply called “the bureau,” is at a crossroads as it transitions to new leadership. Changes are already underway—from its approach to examinations and enforcement actions to its name and branding.
This report overviews some of the changes occurring that may be of interest to U.S. financial institutions regulated by the bureau and provides tips for how best to stay informed. It is based on the author’s past experiences as a bureau employee, phone interviews with bureau staff, a review of bureau publications, and recent news about the changes occurring at the agency and with consumer financial regulation generally.
This 17-page Impact Note contains one figure and four tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.