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CFPB Seeks Suggestions for Streamlining Inherited Regs

January 10, 2012

Authors

Bryan Cave

CFPB Seeks Suggestions for Streamlining Inherited Regs

January 10, 2012

by: Bryan Cave

The CFPB is requesting suggestions for streamlining the regulations it has inherited from other agencies pursuant to the Dodd-Frank Act.

In particular, the bureau is asking the public to identify provisions of such regulations that it should make the highest priority for updating, modifying or eliminating because they are outdated, unduly burdensome or unnecessary, including:

  • Certain definitions in Reg E, Reg P, Reg Z
  • Annual privacy notices under Reg P
  • ATM fee disclosures under Reg E
  • Coverage and scope of Reg Z
  • Electronic disclosures required under Reg E and Reg Z

Publication of the CFPB’s notice in the

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CFPB Republishes Regs E, P and Z

January 9, 2012

Authors

Bryan Cave

CFPB Republishes Regs E, P and Z

January 9, 2012

by: Bryan Cave

The CFPB is republishing regulations for which it is assuming authority from other agencies pursuant to the Dodd-Frank Act and making technical and conforming changes to reflect the transfer of authority and other changes required by the act. Among others, the CFPB issued interim final rules with request for public comment for the Federal Reserve’s Regulation E (Electronic Fund Transfers, Regulation P (Privacy of Consumer Financial Information) and Regulation Z (Truth in Lending).

The preambles to the interim final rules state that the regulations do not impose any new substantive obligations on persons subject to the existing regulations as published

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Financial Services Update

July 30, 2010

Authors

Matt Jessee

Financial Services Update

July 30, 2010

by: Matt Jessee

GDP Rose 2.4% in Second Quarter

On Friday, the Commerce Department reported that U.S. gross domestic product rose at an annualized seasonally adjusted rate of 2.4% for the second quarter, indicating that the recovery has been weaker than previously expected. However, the report also indicated that business spending increased by 21.9% in the second quarter, compared with a 20.4% rise in the first three months. The figures highlight the contrast in the economy between company profits and the slower jobs market. The underlying inflation rate increased by 1.1% in the April-to-June period over the previous quarter. The consumer

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