Financial institutions should face new pressures on several fronts, say observers. The Wall Street Reform and Consumer Protection Act of 2009 passed December 11. The legislation would create a Consumer Financial Protection Agency (CFPA) The CFPA will examine banks and non-banks for consumer protection compliance. BSA/AML enforcement will swing back to core compliance issues including Bank Secrecy Act/Anti-Money Laundering issues. The intensity will increase on consumer risk issues such as compliance with ECOA, FHA, HMDA and HMDA.”]
Source: https://www.cuinfosecurity.com/top-5-regulatory-priorities-for-2010-a-2030