Financial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R. 3126

Description:

This report provides a brief summary of the President's Consumer Financial Protection Agency Act of 2009 (the CPFA Act or the Act) and delineates some of the substantive differences between it and H.R. 3126, as introduced. It then analyzes some of the policy implications of the proposal, focusing on the separation of safety and soundness regulation from consumer protection, financial innovation, and the scope of regulation. The report then raises some questions regarding state law preemption, sources of funding, and rule-making
procedures that the Act does not fully answer.

Creator(s):
Creation Date: July 17, 2009
Partner(s):
UNT Libraries Government Documents Department
Collection(s):
Congressional Research Service Reports
Usage:
Total Uses: 41
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Creator (Author):
Carpenter, David H.

Legislative Attorney

Creator (Author):
Jickling, Mark

Specialist in Financial Economics

Publisher Info:
Place of Publication: Washington, D.C.
Date(s):
  • Creation: July 17, 2009
Description:

This report provides a brief summary of the President's Consumer Financial Protection Agency Act of 2009 (the CPFA Act or the Act) and delineates some of the substantive differences between it and H.R. 3126, as introduced. It then analyzes some of the policy implications of the proposal, focusing on the separation of safety and soundness regulation from consumer protection, financial innovation, and the scope of regulation. The report then raises some questions regarding state law preemption, sources of funding, and rule-making
procedures that the Act does not fully answer.

Physical Description:

11 pages.

Language(s):
Subject(s):
Partner:
UNT Libraries Government Documents Department
Collection:
Congressional Research Service Reports
Identifier:
Resource Type: Report
Format: Text