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Consumer Financial Protection Bureau

2011

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Consumer Financial Protection: It's A Smaller World After All.Pdf, Hilary Allen Mar 2011

Consumer Financial Protection: It's A Smaller World After All.Pdf, Hilary Allen

Articles in Law Reviews & Other Academic Journals

Few of the reforms of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) havebeen as controversial as the creation of the Consumer Financial Protection Bureau. On the one hand,proponents envisioned the Bureau as “a single, highly motivated federal regulator, [that would apply] the sameregulation … to all similar products, regardless of the identity of the lender.” On the other hand, critics havecalled the Bureau “fatally flawed” and suggested that it has the potential to “stifle innovation and leave somemarket participants worse off.”