Venable partner Ron Glancz was interviewed in a February 1, 2012 SNL Financial on the mission of the Consumer Final Protection Bureau (CFPB), its accomplishments so far, and burdens.

Glancz said he was impressed by some of the CFPB’s accomplishments so far including “the way it has engaged with consumer organizations and members of the financial industry alike.” Noting that banks would face additional burdens from new examiners and reporting requirements on top of existing regulations, Glancz said, “There’s going to be overlap and duplication…I daresay no matter how hard they try, there isn’t going to be the kind of coordination that the bankers would like.” Glancz added the jury was still out on how much of a burden this would place on community banks, saying, “We’ll have to see in practice how this thing works…Once you set the standards for the big banks, oftentimes the community banks are expected to follow similar rules.”