1/24/2012 – New U.S. Consumer Agency Pledges to Avoid Rule Duplication
The new Consumer Financial Protection Bureau said on Monday it would coordinate rulemaking and enforcement with the Federal Trade Commission to avoid duplication.
Richard Cordray, the recently appointed director of the CFPB, and FTC Chairman Jon Leibowitz signed a memorandum of understanding promising to inform each other before initiating an investigation or bringing an enforcement action. The two also committed to consulting each other on rule-writing.
