• CFPB: Important Comment Period on Nonbank Regulation
  • June 29, 2011 | Authors: Thomas M. Byrne; B. Knox Dobbins; Jason D. Stone; Annette L. Tripp; Lewis S. Wiener
  • Law Firms: Sutherland Asbill & Brennan LLP - Atlanta Office ; Sutherland Asbill & Brennan LLP - Houston Office ; Sutherland Asbill & Brennan LLP - Washington Office
  • On June 23, the Bureau of Consumer Financial Protection (CFPB) invited preliminary comment on future rulemaking the Bureau will undertake under Section 1024 of the Consumer Financial Protection Act of 2010. Under Section 1024, the Bureau is required to construct a supervisory regime for residential mortgage, private education lending and payday lending firms, as well as the “larger participants” of other product and service markets that the Bureau defines in rulemaking.