Due to the Dodd-Frank Act, a new Bureau has been created. Many consumer financial protection regulations and agencies’ staffs will be moved to the Bureau of Consumer Financial Protection over the next several years. A major change includes the removal of responsibility for the Real Estate Settlement Procedures Act from the Department of Housing and Urban Development and placing it in the new Bureau.
The new Bureau is under the Federal Reserve but will run independently and will be funded by the Fed. Click here to read more about the new Bureau, including information on the following topics.
- Staffing: More than a routine issue
- Enforcement vs. Supervision
- What will guide the Bureau’s policy?