The Dodd-Frank Wall Street Reform and Consumer Protection
Act (Dodd-Frank), the most important change in
consumer-protection law since the late 1960s, was signed into
law on July 21, 2010. Most readers by now are familiar that it
will create a new Consumer Financial Protection Bureau
(CFPB) which will issue extensive new regulations and otherwise
dramatically change lending practices for years to come.
Perhaps less well known is that Dodd-Frank makes scores
of important changes to TILA, RESPA, HAMP, EFTA,
HMDA, CLA, FCRA, and other consumer laws, particularly
changes related to mortgage originations and servicing. Federal
preemption of state consumer law is also restricted.
This double issue examines all aspects of Dodd-Frank
relevant to a consumer law practice. NCLC is also presenting
a webinar on the subject on Sept. 15 at 2 p.m. EST.