The Consumer Financial Protection Bureau (CFPB) turns 3 on
Monday, July 21, 2014. Created under Dodd-Frank, the
CFPB already has made a significant impact on the consumer
protection legal landscape and, more specifically, on how consumer
financial services providers advertise and market their
services. Nevertheless, the CFPB's track record continues
to be
controversial, despite the expected press releases and reports
relating to the upcoming anniversary, which already include an
announcement of an expanded
consumer complaint portal (Wednesday, July 17), and a field
hearing on Thursday morning.
Many industry groups and companies view the CFPB's
regulation and enforcement of consumer financial protection laws as
more aggressive and results driven than other federal and state
regulators that historically covered (and in some cases continue to
cover) many of the same activities and statutes. For example,
through its examinations, multiple settlements, and
enforce
