As senior vice president and regulatory and compliance counsel at the Cornerstone Credit Union League, Suzanne Yashewski reviews thousands of bills each legislative season.
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) transferred rule-making authority for a number of consumer financial protection laws from seven federal agencies to the Consumer Financial Protection Bureau (CFPB) as of July 21, 2011.
In January 2012, the Consumer Financial Protection Bureau (CFPB) amended Regulation E and its official interpretation to provide new protections to consumers who send remittance transfers to other consumers or businesses in foreign countries.