CFPB Turns Three: Three Years, Big Impact

The Consumer Financial Protection Bureau ("CFPB") has concluded its third year.  Created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), the Bureau has taken significant steps to define its role in the consumer financial services industry and to establish itself as a major regulatory player.  There's no doubt that as the CFPB has grown, it has had a significant impact on the consumer financial services industry, by adopting new industry-shaping regulations, better defining the voice of the consumer, and exercising supervisory and enforcement authority over players in the consumer financial services industry.  The proof is in the pudding: banks and nonbanks, in order to meet CFPB expectations, have increased their focus on the full life cycle of their products and services, enhanced compliance measures, and consumer-centric policies. This engaging webcast will delve into the three-year history of the regulatory agency and examine some of its more notable regulations and enforcement actions since its inception.

 

YOUR SPEAKERS:

Kristen Brown is an associate in Venable’s Regulatory Practice Group, where she focuses on transactional, regulatory, and policy matters across a broad range of industries. Ms. Brown has experience counseling clients on a range of consumer protection matters, including legal issues related to all forms of advertising, sales practices, consumer financial services, promotions and sweepstakes. Ms. Brown advises clients on developments regarding the Consumer Financial Protection Act, FTC Act, the Telephone Consumer Protection Act, and the FTC’s Telemarketing Sales Rule, among others.

 

Alexandra Megaris is an associate in Venable’s Regulatory Practice Group, where she focuses on compliance and government enforcement matters in a broad range of industries. Ms. Megaris assists clients with civil and criminal investigations before the United States Congress, the Consumer Financial Protection Bureau, the Federal Trade Commission, state Attorneys General offices, the U.S. Postal Service, and various other federal and state agencies.

 

Jonathan L. Pompan, a partner in the Washington, DC office, is co-chair of the firm’s Consumer Financial Protection Bureau (“CFPB”) Task Force.  His practice focuses on providing comprehensive legal advice and regulatory advocacy to a broad spectrum of clients, such as nonbank financial products and services providers, advertisers and marketers, and trade and professional associations, before the CFPB, the Federal Trade Commission (“FTC”), state Attorneys General, and regulatory agencies.  At a time when government consumer protection agencies are stepping up their scrutiny, Mr. Pompan develops strong and lasting relationships with clients by understanding their business objectives, helping them to recognize opportunities, and avoid legal pitfalls.