Why CFPB Must Share Oversight on Consumer Policy

WASHINGTON — The conventional wisdom is the federal agency born out of the crisis — the Consumer Financial Protection Bureau — is the last word on financial consumer regulatory policy, with other more established regulators playing a supporting role.

But a growing number of experts are putting more stock in the authority older agencies kept in the Dodd-Frank Act to enforce consumer rules at small banks they supervise, and see one policy in particular — the ban on "unfair, deceptive or abusive acts or practices" — where the prudential regulators could carry substantial weight...



http://www.americanbanker.com/issues/177_93/Dodd-Frank-UDAAP-CFPB-Cordray-unfair-deceptive-abusive-1049302-1.html?zkPrintable=1&nopagination=1&goback=%2Egde_4050565_member_116287848