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.

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11 pages.

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Carpenter, David H. & Jickling, Mark July 17, 2009.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 50 times . More information about this report can be viewed below.

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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.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • July 17, 2009

Added to The UNT Digital Library

  • July 7, 2010, 5:39 p.m.

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  • Aug. 11, 2015, 12:27 a.m.

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Citations, Rights, Re-Use

Carpenter, David H. & Jickling, Mark. Financial Regulatory Reform: Analysis of the Consumer Financial Protection Agency (CFPA) as Proposed by the Obama Administration and H.R. 3126, report, July 17, 2009; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc26183/: accessed February 20, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.