Dear Readers,
This month marks the tenth anniversary for the Dodd-Frank Update.
While researching the Dodd-Frank Act for this month’s cover story,
my mind was boggled by the breadth of the legislation, and all of the
changes that have happened since it was enacted. It’s definitely been
a game changer.
As we have reported in recent months, more change is coming to
the industry as the new Biden administration gains steam, and many
predict a return to the perspective and goals that were held during the
Obama administration for consumer protection and financial reform.
“First and foremost, the message coming out of the [CFPB] is that
there’s a new sheriff in town, or at least there’s a return of the old
sheriff under new leadership,” Brian Johnson, partner at Alston &
Bird, LLP said in October Research, LLC’s Getting to Know Your
Regulators webinar. “And so, the general expectation can be an
emphasis both in rhetoric and to some extent the bureau’s actions to
better emphasize supervision and enforcement of the laws under the
CFPB’s jurisdiction.”
In the webinar, CFPB veterans Johnson, Tony Alexis, and C. Hunter
Wiggins give their perspectives on where the administration may be
going in the coming months, and what Chopra’s approach should
he be confirmed as director. The three also advised on how to get
involved with your regulators in preparation for examinations. The
session can be viewed for free on our website.
Stay in touch (but socially distant),
Elizabeth C. Childers, Esq.
Editor, Dodd Frank Update
