Search
 

Dodd's Bill Calls for Consumer Agency in Fed

The new regulator of consumer financial products would be housed in the Federal Reserve and would have the ability to write rules, but most of enforcement would be done by the safety and soundness regulator.

By Claude R. Marx | Updated on March 14, 2010

The new regulator of consumer financial products would be housed in the Federal Reserve and would have the ability to write rules, but most of enforcement would be done by the safety and soundness regulator, according to media reports of a bill to be unveiled today by Senate Banking Committee Chairman Christopher Dodd (D-Conn.).

The bill would give regulators, such as the NCUA, the power to enforce regulations though the consumer regulator could participate in an examination of a financial institution if it were concerned about a financial institution’s practices.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Why Your CU Needs a Chief Data Officer

Why Your CU Needs a Chief Data Officer

Henry C. Meier, Esq. |

There are too many data-related questions to answer and legal issues hanging around to not have a data chief at the helm.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.