US Supreme Court affirms CFPB funding: What to expect next

Host: Tom Nicolosi, principal, Deloitte & Touche LLP

Presenters: John Graetz, principal, Deloitte & Touche LLP
                      Paul Sanford, independent senior advisor to Deloitte & Touche LLP
                      David Teitelbaum, partner, Sidley Austin LLP
                      Thomas Ward, partner, Sidley Austin LLP 

 1.0 Overview CPE credit | Specialized Knowledge

With the Supreme Court’s recent ruling affirming that the funding mechanism of the Consumer Financial Protection Bureau (CFPB) is valid under the US Constitution’s Appropriate Clause, financial institutions should prepare for a potentially active regulatory agenda that was previously on pause pending the ruling. We’ll discuss:

• Implications of the anticipated expansion of CFPB supervision over nonbanks
• Expectations for finalization of proposed rules related to oversight on digital wallet and payment providers, junk fee rules and open banking
• Preparedness for increased enforcement actions and a focus on repeat offenders