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Regulatory: Simplicity is not so simple

Why the Consumer Financial Protection Bureau needs to break from the Rule of Threes.

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.

What does the Consumer Financial Protection Bureau have in common with the Three Little Pigs, the Three Musketeers, the Three Blind Mice and the Three Stooges? Tempted as I am to draw out a punch line, this is not a comedic setup. The architects of all these institutions use a common tool to communicate their message: the Rule of Threes.

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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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