Financial Regulatory Forum

Delay in U.S. consumer bureau authority spares non-bank lenders

By Guest Contributor
July 21, 2011

By Ted Knutson

WASHINGTON, July 21 (Thomson Reuters Accelus) – A political stalemate over the consumer protection bureau created under the Dodd-Frank financial regulation overhaul is allowing payday loan firms and other non-bank lenders to escape the agency’s authority for now, but industry participants say they have nonetheless boosted lending and disclosure standards.

U.S. financial regulation: Three things to watch, and two not to, in 2011 – Complinet column

By Guest Contributor
January 3, 2011

MARKETS-STOCK/By Scott McCleskey, Complinet

The past year was a busy one for those interested in financial reform – you know, Dodd-Frank and all that. But the new year will be even more fateful in shaping the markets for decades to come. It is likely to be the most critical of the post-financial crisis period. The reason is that Dodd-Frank only gave the regulators their marching orders, and 2010 mostly saw just the preliminaries to the really tough regulation. It will be in 2011 that actual rules will be proposed, finalized and implemented – and all by mid-year, if deadlines are met. It will also be when the Republicans hit the beach in the House and attempt to moderate or reverse many of the reforms already underway.

Dodd says the threat to financial reform real but not complete – Complinet Interview

By Guest Contributor
December 6, 2010

U.S. Senator Christopher DoddBy Ted Knutson, Complinet

As Democratic U.S. Senator Christopher Dodd prepares to leave office, Republicans are threatening to chip away at what may be his biggest legislative accomplishment: the Wall Street regulation overhaul he helped steer through Congress this year as chairman of the Senate Banking Committee. It was the biggest fix to the financial regulatory system in 70 years, and Republicans emboldened by November election gains are looking to deny regulators the extra money they want to enforce it, and to delay seating a head of the Consumer Financial Protection Bureau (CFPB).