Regulation of Non-Depository Covered Persons Under the Dodd-Frank Act

The jurisdiction and rulemaking authority of the Consumer Financial Protection Bureau under Title X of the Dodd-Frank Act specifically extends beyond depository institutions, and includes supervisory and enforcement powers over non-depository providers of consumer financial products and services. The authors discuss the scope of the CFPB’s jurisdiction over non-depository institutions and key provisions of its newly issued Supervision and Examination Manual.