What Are You Looking For?
Share This Page
Twitter   Facebook   Google+   LinkedIn   Send To A Friend  
Home > Federal Government Affairs > Dodd-Frank Resource Center
Dodd-Frank Resource Center
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which passed on July 21, 2010, is unprecedented in magnitude and will impact every sector of the financial services industry. Among the act’s many provisions is the creation of the Consumer Financial Protection Act (CFPB).
To help its members keep track of the latest developments in the act’s implementation, AFSA has created a resource center with news articles, important dates, a bill overview, and rulemakings.
Latest Developments

BofA to pay $727 million to consumers over credit card practices
Reuters 04/09/2014
The Consumer Financial Protection Bureau and Office of the Comptroller of the Currency said they had ordered the bank to pay $727 million in relief to consumers to resolve problems with add-on products providing identity theft and payment protection ...

The Consumer Financial Protection Bureau: A Toxic Workplace Begets Toxic ...
Forbes 04/06/2014
A recent report conducted through internal investigation at the Consumer Financial Protection Bureau (CFPB) found multiple instances of employee discrimination and harassment. Investigator Misty Raucci claimed, “I found that the general environment in ...

US consumer bureau details diversity efforts after complaints
Reuters 04/04/2014
The Consumer Financial Protection Bureau (CFPB) said in its annual diversity report to Congress that officials took seriously recent revelations of racial disparities in employees' performance ratings and other complaints of unfair treatment. Officials ...

Employee alleges workplace of discrimination, retaliation at CFPB
Politico 04/02/2014
An employee at the Consumer Financial Protection Bureau on Wednesday charged that there is a widespread culture of discrimination and retaliation at the agency, alleging that parts of the bureau are plagued by racial tensions and managers that bully ...

How the CFPB Seeks to Shape the Message
American Banker 04/01/2014
How the CFPB Seeks to Shape the Message. by Rachel Witkowski. APR 1, 2014 4:55am ET. The Consumer Financial Protection Bureau has employed unusual practices in its efforts to guide the public's perception of it. They've included funding the trip of a ...

Lawmakers Sparring Over CFPB Hearing
Wall Street Journal (blog) 03/31/2014
WASHINGTON — House lawmakers are once again arguing over the Consumer Financial Protection Bureau, this time feuding over whether a CFPB lawyer should testify in public about her discrimination case against the agency. The CFPB lawyer is ...

Consumer agency probe finds 'toxic' environment
Politico 03/28/2014
An internal investigation at the Consumer Financial Protection Bureau last year concluded that an agency supervisor allowed an employee to be harassed by colleagues, a symbol of what the probe said was a “toxic workplace” in one part of the agency.

House Hearing on CFPB Employees to Feature 'Whistleblower'
American Banker (subscription) 03/28/2014
House Hearing on CFPB Employees to Feature 'Whistleblower'. by Rachel Witkowski. MAR 27, 2014 6:19pm ET. A House Financial Services subcommittee said Thursday it would feature a "whistleblower" at a hearing next week looking into grievances filed ...

Is the CFPB about to break the payday lending business model?
Washington Post (blog) 03/25/2014
Whenever governments start thinking about cracking down on small-dollar, high-interest financial products like payday loans and check cashing services, a shrill cry goes up from the businesses that offer them: You're just going to hurt the poor folks ...

Washington Examiner files lawsuit against CFPB for withholding renovation ...
Washington Examiner 03/19/2014
A federal lawsuit was filed today by the Washington Examiner seeking 335 pages of public documents withheld by the Consumer Financial Protection Bureau about its costly renovation of an office building near the White House. The Examiner filed a civil ...

Consumer Financial Cover-Up
Wall Street Journal 03/16/2014
How does the Consumer Financial Protection Bureau figure out when employers unintentionally discriminate against minorities? The bureau's lawyers know, or maybe they're making it up as they go along. Whatever it is, they're not telling Congress or ...

CFPB targets "zombie" foreclosures after Reuters report
Reuters 03/13/2014
March 13 (Reuters) - The Consumer Financial Protection Bureau is probing "zombie" foreclosures, a phenomenon first revealed by Reuters last year.. Zombie foreclosures result when banks begin a foreclosure -even going so far as to send the homeowners a ...

US Consumer Regulator to Overhaul Employee Ratings
Wall Street Journal (blog) 03/10/2014
WASHINGTON – The U.S. consumer-finance regulator is pledging to overhaul its system for rating employees' performance, after criticism that its managers gave whites better reviews than minorities. The Consumer Financial Protection Bureau “will move ...

When 'Disparate Impact' Bites Back
Wall Street Journal 03/10/2014
The Consumer Financial Protection Bureau just got a painful lesson in the "disparate impact" theory of discrimination. American Banker magazine reported on March 6 that the CFPB's employee performance-review process is plagued by exactly the kind of ...

Rep. Hensarling Still Pushing CFPB on Alleged Auto-Loan Discrimination
Wall Street Journal 03/07/2014
WASHINGTON--House Financial Services Chairman Jeb Hensarling (R., Texas) is continuing to press the Consumer Financial Protection Bureau for evidence of alleged discrimination in the auto-lending market, saying the agency has stymied repeated ...

CFPB Staff Evaluations Show Sharp Racial Disparities
American Banker 03/06/2014
WASHINGTON — Since the Consumer Financial Protection Bureau burst onto the financial stage a few years ago, it has made a steady stream of controversial moves. None are more despised by bankers than the agency's use of statistical differences in the ...

Recent Events
July 16, 2013
AFSA staff met with CFPB Fair Lending and Enforcement officials about fair lending compliance for the indirect vehicle finance industry.
May 9, 2013
AFSA Chairman Tim Stanley met with U.S. Senator Jack Reed (D-RI) to discuss the National Defense Authorization Act and reforms to military lending rules.
February 20, 2013
AFSA staff attended the CFPB's Consumer Advisory Board meeting.
February 13, 2013
AFSA staff attended a panel discussion organized by law firm Dickstein Shapiro on information sharing between the Consumer Financial Protection Bureau, Federal Trade Commission, and state attorneys general.
October 5, 2012
AFSA staff met with CFPB officials to discuss the Bureau’s proposed rules on mortgage servicing. 
August 13, 2012
AFSA staff attended a roundtable at the CFPB on the qualified mortgage (QM)/ability to repay proposed rule and its implications for small financial institutions. The discussion took place at the request of several trade groups, including AFSA. 
February 16, 2012
Several AFSA board members and staff met with CFPB Director Richard Cordray and other senior officials to help familiarize them with the association’s membership.
February 8, 2012
AFSA President & CEO Chris Stinebert testified before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit’s on “Legislative Proposals to Promote Accountability and Transparency at the Consumer Financial Protection Bureau.”
January 19, 2012
AFSA staff attended the CFPB's field hearing in Birmingham, Ala. on payday lending
January 4, 2012
AFSA issued a statement regarding President Obama's recess appointment of Richard Cordray as CFPB Director.


Additional AFSA Resources

To help industry executives wade through the 2,300-page bill’s implications, AFSA put together a four-part webinar series in July 2010 addressing each of the association’s business segments: credit cards, mortgage, personal loans, and vehicle finance. Each of the hour-long webinars largely dealt with the new Consumer Financial Protection Bureau (CFPB).

 Credit Card PowerPoint Presentation

 Vehicle Finance PowerPoint Presentation

 Mortgage Webinar PowerPoint Presentation

 Personal Loans Webinar PowerPoint Presentation

AFSA has compiled two white papers dealing with the Dodd-Frank Act.

White Paper on Dodd-Frank Act

White Paper on Preemption

Send To A Friend