Lawmakers have negotiated the final form of the most significant financial regulatory reform legislation in decades. Among other major changes to the federal regulatory structure governing financial intermediaries, the legislation will create a new federal entity focused on consumer financial protection. Based on the latest information from the negotiations on Capitol Hill, this timely webcast will provide up-to-date details on the new agency’s expected structure, its jurisdiction and responsibilities, and how it is likely to apply its authorities.
The webcast will cover the structure, level of autonomy, and missions of the new agency, as well as its relationship to existing financial regulators. Representatives from the Office of the Comptroller of the Currency and the Federal Reserve System will address the scope of the agency’s jurisdiction and its ability to regulate businesses and activities not traditionally considered “financial.” Within this broad scope, the webcast will outline the anticipated authorities and activities of the new agency, including likely top priorities for enforcement. In particular, speakers will draw on past practice by other federal bodies to discuss how the new agency will likely interpret its mandate to address numerous federal consumer statutes for which it will have primary regulatory and interpretive authority, as well as newly created authority to determine unfair, deceptive, or abusive acts or practices regarding consumer products and services.
Topics:
- Overview of the New Agency: Its Structure and Mission
- Transfer of Personnel
- Effective Date for Commencement of Operations
- Interim Functions by Other Federal Consumer Protection Agencies
- Scope of Jurisdiction: Who and What Will the Agency Regulate?
- Agency Authorities and Activities
- Transferred Federal Consumer Protection Laws and Regulations
- Unfair, Deceptive, and Abusive Acts and Practices Authority
- Federal Preemption
- Examination and Supervision of Covered Persons and Entities
- Likely Enforcement Priorities and Initial Agency Agenda
- Liability for Violation of Agency Rules and Regulations
Planning Chair:
Stuart P. Ingis, Venable LLP, Washington, DC
Faculty:
Representative of the Federal Reserve System
Representative of the Office of the Comptroller of the Currency
Edward F. Glynn, Jr., Venable LLP, Washington, DC
Joseph T. Lynyak III, Venable LLP, Washington, D.C.
Program Schedule:
All Times are Eastern Daylight
12:00 Noon - New Consumer Financial Protection Agency: Meet the New Sheriff in Town Questions and Answers
1:00 p.m. - Adjournment
For registration and more information, visit the ALI-ABA website.