Regulatory changes probably won’t be seen at the institution level for at least a year or longer, though the compliance burdens for large and small institutions will increase greatly. The CFPB will serve as a watchdog over compliance with consumer protection laws and regulations by banks and non-banks. It may take from 18 to 24 months for the agency to be fully staffed and a host of regulations to be written. The agency will examine banks with assets exceeding $10 billion for compliance with laws, instead of the bank regulator.”]
Source: https://www.cuinfosecurity.com/consumer-protection-look-ahead-a-2963