Despite numerous predictions of quick and easy passage, Congress finally passed and President Obama signed into law an amendment to the Federal Deposit Insurance Act (FDIA) specifying that submission of privileged information to the Consumer Financial Protection Bureau (CFPB) and any sharing of that information by the CFPB with other federal agencies does not waive the attorney-client privilege as to third parties. The legislation provides much-needed protection for entities under the CFPB’s supervisory authority.