The creation of the CFPB by the Dodd-Frank Act of 2010 not only added another financial regulator, it has changed the dynamics of existing regulators. Like an athletic team that has drafted a new player, the incumbents have found themselves sometimes competing, sometimes collaborating.
Or as one bank panelist at the ETA Transact 15 conference in San Francisco put it last week, “we now have the regulatory Olympics.”
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