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Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781977948830
Category :
Languages : en
Pages : 132
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Book Description
Enhanced consumer financial protection after the financial crisis : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... July 19, 2011.
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781977948830
Category :
Languages : en
Pages : 132
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Book Description
Enhanced consumer financial protection after the financial crisis : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... July 19, 2011.
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781981648979
Category :
Languages : en
Pages : 132
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Book Description
Enhanced consumer financial protection after the financial crisis : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Twelfth Congress, first session ... July 19, 2011.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 140
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Book Description
Author: U.S. Government Printing Office (Gpo)
Publisher: BiblioGov
ISBN: 9781289319120
Category :
Languages : en
Pages : 134
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Book Description
The United States Government Printing Office (GPO) was created in June 1860, and is an agency of the U.S. federal government based in Washington D.C. The office prints documents produced by and for the federal government, including Congress, the Supreme Court, the Executive Office of the President and other executive departments, and independent agencies. A hearing is a meeting of the Senate, House, joint or certain Government committee that is open to the public so that they can listen in on the opinions of the legislation. Hearings can also be held to explore certain topics or a current issue. It typically takes between two months up to two years to be published. This is one of those hearings.
Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 127
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Book Description
Author: Housing, and Urban Affairs, Committee on Banking, Housing, and Urban Affairs United States Senate
Publisher:
ISBN: 9781477652886
Category :
Languages : en
Pages : 132
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Book Description
As we approach the 1-year anniversary of the Wall Street Reform and Consumer Protection Act, we should all be reminded of a basic lesson we learned from the Great Recession: failing to protect consumers has consequences not only for individuals and families, but also for the health of America's economy. The failure by regulators to hold Wall Street banks and unscrupulous mortgage lenders accountable for complying with consumer protection laws was detrimental to American families and brought the global financial system to near collapse.
Author: David H. Carpenter
Publisher: Createspace Independent Pub
ISBN: 9781478326694
Category : Law
Languages : en
Pages : 34
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Book Description
In the wake of the worst U.S. financial crisis since the Great Depression, Congress passed and the President signed into law sweeping reforms of the financial services regulatory system through the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), P.L. 111-203. Title X of the Dodd-Frank Act is entitled the Consumer Financial Protection Act of 2010 (CFP Act). The CFP Act establishes the Bureau of Consumer Financial Protection (CFPB or Bureau) within the Federal Reserve System (FRS) with rulemaking, enforcement, and supervisory powers over many consumer financial products and services, as well as the entities that sell them. The CFP Act significantly enhances federal consumer protection regulatory authority over nondepository financial institutions, potentially subjecting them to analogous supervisory, examination, and enforcement standards that have been applicable to depository institutions in the past. The act also transfers to the Bureau much of the consumer compliance authority over larger depositories that previously had been held by banking regulators. Additionally, the Bureau acquired the authority to write rules to implement most federal consumer financial protection laws that previously was held by a number of other federal agencies. Although the powers that the CFPB has at its disposal are largely the same or analogous to those that other federal regulators have held for decades, there is a great deal of uncertainty in how the new agency will exercise these broad and flexible authorities, especially in light of its almost exclusive focus on consumer protection. As a result, the CFP Act has proven to be one of the more controversial portions of the financial reform legislation. The 112th Congress is actively involved in conducting oversight of the implementation of the CFP Act. Additionally, the 112th Congress has considered a number of bills that would significantly alter the structure of the Bureau. For example, H.R. 2434, the Financial Services and General Government Appropriations Act, 2012, would make the CFPB's primary funding subject to the traditional appropriations process, and H.R. 1315, the Consumer Financial Protection Safety and Soundness Improvement Act, would convert the CFPB's leadership structure from a sole directorship to a commission and would allow the newly established Financial Stability Oversight Council (FSOC) to overturn CFPB-issued regulations with a simple majority vote, as opposed to the current super majority requirement. H.R. 2434 was reported favorably out of the House Committee on Appropriations, and H.R. 1315 was referred to the Senate Committee on Banking, Housing, and Urban Affairs after passing the full House by a vote of 241 to 173. Additionally, 44 Senators signed a letter to the President expressing support for the Bureau-related objectives of H.R. 2434 and H.R. 1315. This report provides an overview of the regulatory structure of consumer finance under existing federal law before the Dodd-Frank Act went into effect and examines arguments for modifying the regime in order to more effectively regulate consumer financial markets. It then analyzes how the CFP Act changes that legal structure, with a focus on the Bureau's organization; the entities and activities that fall (and do not fall) under the Bureau's supervisory, enforcement, and rulemaking authorities; the Bureau's general and specific rulemaking powers and procedures; and the Bureau's funding.
Author: United States Government Accountability
Publisher: CreateSpace
ISBN: 9781511423090
Category :
Languages : en
Pages : 100
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Book Description
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) created the Bureau of Consumer Financial Protection-also known as the Consumer Financial Protection Bureau (CFPB)-to regulate the offering and provision of consumer financial products or services under the federal consumer financial laws. According to the act, CFPB's mission is to implement and enforce federal consumer financial law consistently to ensure that markets for consumer financial services and products are fair, transparent, and competitive, among other things. The act directs CFPB to carry out its mission by, among other things, collecting, researching, monitoring, and publishing information relevant to the functioning of markets for consumer financial products and services to identify risks to consumers and the proper functioning of such markets. Prior to and during the 2007-2009 financial crisis, we and others noted that the lack of data on consumer financial products and services hindered federal oversight in areas such as mortgages and fair lending.
Author: Lisa Kastner
Publisher: Routledge
ISBN: 1351798138
Category : Political Science
Languages : en
Pages : 151
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Book Description
Coalitions of consumer groups, NGOs, and trade unions have traditionally been considered politically weak compared to well-organized and resourceful financial sector groups which dominate or "capture" financial regulatory decisions. However, following the 2008 financial crisis, civil society groups have been seen to exert much more influence, with politicians successfully implementing financial reform in spite of industry opposition. Drawing on literature from social movement research and regulatory politics, this book shows how diffuse interests were represented in financial regulatory overhauls in both the United States (US) and the European Union (EU). Four cases of reform in the post-crisis regulatory context are analyzed: the creation of a new Consumer Financial Protection Bureau in the US; the introduction of new consumer protection regulations through EU directives; the failure of attempts to introduce a financial transaction tax in the US; and the agreement of 11 EU member states to introduce such a tax. It shows how building coalitions with important elite allies outside and inside government helped traditionally weak interest groups transcend a lack of material resources to influence and shape regulatory policy. By engaging with a less well-known side of the debate, it explains how business power was curbed and diverse interests translated into financial regulatory policy.
Author: United States. Congress
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976119316
Category :
Languages : en
Pages : 40
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Book Description
Assessing and enhancing protections in consumer financial services : hearing before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Thirteenth Congress, second session, on assessing the consumer financial marketplace since the financial crisis, particularly through the work of the Consumer Financial Protection Bureau, September 18, 2014.
