CFPB, FTC Sign Coordination Agreement

Posted by Orb Staff on January 24, 2012 No Comments
Categories : FYI

The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) have signed an agreement to coordinate efforts to protect consumers and avoid duplication of federal law enforcement and regulatory efforts.

The Dodd-Frank Act requires the CFPB and the FTC to work together to coordinate their enforcement activities and promote consistent regulatory treatment of consumer financial products and services. As part of the agreement, the agencies have agreed to meet regularly to coordinate upcoming law enforcement, rulemaking, and other activities. They will also inform each other of pending investigations or enforcement actions, in order to prevent duplicative or conflicting efforts, and will cooperate on consumer education efforts and share consumer complaints.

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