We have provided numerous updates about the Consumer Financial Protection Bureau since its establishment as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The Act, usually referred to simply as Dodd-Frank, after the congressmen who were responsible for the law, has been a hot topic as of late. There have been many questions, perhaps generated by the Bank of America’s decision to add $5 per month fees to all who use the ATM cash machines. From the perspective of a Massachusetts bankruptcy lawyer and a Massachusetts consumer lawyer, we see the Dodd-Frank Act as a positive step in bringing these consumer banking questions to light.
The Agency claims that its mission is to help “consumer financial markets” by “making rules more effective” and by working to “fairly enforce” the rules.

Recent Comments