Effective
Comment
Letters
Make a
Difference
HE RECENT FINANCIAL SYSTEM CRISIS
and Congress’ enactment of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (DFA) are literally and figuratively re-forming the banking
landscape. The DFA calls for more than 250 new regulations to be written during the
next several years, and many of them will be proposed by the new Consumer Financial Protection Bureau (CFPB). Bank compliance risk managers can either watch as
regulators, consumer advocates, and others sculpt and mold their world, or they can
help shape their environment through active involvement in the regulatory implementation process. Comment letter writing is one of the most effective ways to get involved.
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