CFPB Initiates Large Bank Supervision Program
Mondaq Business Briefing › United States Law Articles in English (2011)
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CFPB Initiates Large Bank Supervision Program
With the statement, "The new consumer agency is here to make sure that markets work for American families, and our bank supervision program is a big part of that,"1 Elizabeth Warren, the Treasury's Special Advisor on the Consumer Financial Protection Bureau ("CFPB"), officially launched the new agency's bank supervision program. Notwithstanding the lack of a Director to run the fledgling agency, the CFPB is moving forward on one of the key elements of its mission – the supervision and oversight of large bank's consumer financial protection compliance programs. Emphasizing that the CFPB will be hitting the ground running, Warren noted, "Starting on July 21, we will be a cop on the beat – examining banks and ...
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