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Regulatory: If banks don’t do anything wrong, they have nothing to worry about, right?

The cost related to the bureau’s regulatory power is choking consumers.

This column is part of a series of articles on the new Consumer Financial Protection Bureau and the upcoming wave of regulations affecting the consumer financial industry

The debate over whether the Consumer Financial Protection Bureau gets to be as powerful and independent as provided in the Dodd-Frank Act rages on even though the statute has been in place for more than a year. Title X—the bureau’s enabling statute—has been fully effective since July; fully effective, that is, other than it has no director.

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Martin Bishop

Martin J. Bishop is a partner, litigation department vice chairman and co-chair of the consumer financial services litigation practice at Foley & Lardner LLP. He...

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