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Dykema Releases Consumer Financial Services Answer Book 2012-13

Updated Edition Includes the Latest Regulatory Developments under the Cordray-led CFPB

June 29, 2012

Practising Law Institute has released the Consumer Financial Services Answer Book 2012-13. Edited once again by the lawyers of Dykema Gossett PLLC, this revised and updated edition explores the core federal laws that govern consumer credit, and includes a detailed description of the increasingly powerful Bureau of Consumer Financial Protection (or CFPB). Authors include Dykema lawyers Richard Gottlieb and Don Lampe, both Chambers-listed leaders in financial services. The book was jointly edited by Dykema lawyers Arthur Axelson, Thomas Hanson and Mr. Gottlieb.  

The Consumer Financial Services Answer Book 2012-13 provides clear and concise answers to the many questions being asked about consumer lending following the historic enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act has dramatically reshaped the regulation of consumer financial services in the United States. It not only led to the creation of an entirely new regulatory agency—the Consumer Financial Protection Bureau—but has significantly altered a number of federal laws that govern the extension of consumer credit.

The latest edition is a substantial update of the original edition. President Obama's recess appointment of a permanent director (Richard Cordray) triggers broad new powers for the CFPB, and the months since that appointment have seen major new regulatory and enforcement initiatives. Says co-editor Richard Gottlieb, "We think this updated guide will help clear up some of the confusion and help financial institutions and their lawyers navigate a series of new laws that will dramatically impact the compliance practices of every consumer lender, servicer and retailer."

The 818 page single volume Consumer Financial Services Answer Book 2012-13 is $235 from Practising Law Institute, can be purchased directly from retailers such as Amazon.com and is available in e-book form for the Kindle.