Today marks the one-year anniversary of when President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), Pub. L. No. 111-203, 124 Stat. 1376, Title X of which constitutes the Consumer Financial Protection Act (“CFPA”). The CFPA established the new Consumer Financial Protection Bureau (“CFPB”) within the Federal Reserve System to regulate the offering and provision of consumer financial products or services. Rather than create the new consumer bureau overnight, the CFPA directed the Secretary of the Treasury to designate a transfer date upon which the CFPB would assume authority for existing enumerated federal consumer protection laws and for consumer compliance supervision over large depository institutions. In September 2010, the Treasury Secretary announced July 21, 2011 as the designated transfer date. The designated transfer date has now arrived. This issue of the Venable CFPB Watch describes several of the first formal efforts of the new bureau.