Originally published in Thomson Reuters' UCC Law Journal on November 1, 2012.

Table of Contents:

Establishment Of The Consumer Financial Protection Bureau (CFPB)-

Designated Transfer Date; Key Denitions; Covered Persons; Consumer Financial Protection Functions; Federal Consumer Financial Law and Enumerated Consumer Laws; Unfair, Deceptive and Abusive; Transfer of Functions; Federal Banking Agencies and National Credit Union Administration (“NCUA”); Federal Trade Commission (“FTC”); Department of Housing and Urban Development (“HUD”); and Recess Appointment of Richard Cordray.

Rulemaking And Policy Development Initiatives -

Consumer Complaint System; Deposit Accounts and Overdraft Protection; Prototype Credit Card Agreement; General-Purpose Reloadable Prepaid Cards; Request for Comment on Payday Loan Practices; Revised Mortgage Disclosures; New Remittance Transfer Requirements; and Amending Account-Opening Fee Limits

Supervisory Initiatives -

Examination Procedures Released; Production of Privileged Information in Examinations; “Larger Participant” Rulemaking; and Procedures for Designating Nonbanks Posing Risks to Consumers.

Enforcement Initiatives -

“Early Warning Notice” Procedure; Bulletin on Fair Lending Enforcement; Procedural Rules Issued; and First Enforcement Action.