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U.S. Treasury releases draft of Consumer Financial Protection Agency Act of 2009

USA - July 13 2009 Following up on the administration’s June 17 "white paper" proposal to create a Consumer Financial Protection Agency (CFPA)—summarized in our June 22, 2009, advisory—the U.S. Department of the Treasury recently released a draft bill (“Bill”) that would implement most features of the proposal.

James H. Mann, Andrew Owens

Administration proposes further changes to regulation of credit card business

USA - June 22 2009 Last week, the Administration released "Financial Regulatory Reform: A New Foundation" (the "Proposal") which recommends, among other things, significant organizational and substantive changes to federal regulation of the credit card business.

James H. Mann, Andrew Owens, Jim H. Young