House Financial Services Committee Plans Major Changes to Consumer Financial Protection Bureau

House Financial Services Committee Plans Major Changes to Consumer Financial Protection Bureau

Apr 25, 2017

Client Alert

Co-author, Brownstein Client Alert, April 25, 2017

One of the cornerstones of the Republican platform during the 2016 elections was to undertake a major overhaul of the Dodd-Frank Act, the landmark Obama-era law that spurred over 22,000 pages of new regulations and established the Consumer Financial Protection Bureau (“CFPB”). Shortly after inauguration, President Trump promised to do a “big number” on Dodd-Frank, which he referred to as a “disaster."1 But the unique, independent structure of the CFPB that has made it a political lightning rod has also made its reform elusive.

To read the full alert, please click the PDF above. 

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