September 27, 2012

Law360 quotes Jonathan Pompan on the CFPB's influence on other financial regulators

1 min

Law360 quoted Venable of counsel Jonathan Pompan in an article on September 26, 2012 on the influence that the Consumer Financial Protection Bureau (CFPB) has on other financial regulators such as the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. Throughout its first year, the CFPB has used aggressive tactics, which some argue will encourage other regulators to be more forceful in their approach toward financial entities.

Commenting on the potential impact current CFPB tactics may have on other regulators, Pompan said, "With the CFPB still in its early stages, and other regulators still getting used to the new playing field, it remains to be seen just how far the older agencies will go." Although the future of the regulatory environment remains uncertain, Pompan added that "the CFPB is a shot of adrenaline in the enforcement and regulatory community."