1.5: Consumer & Community Affairs

Evaluate the Board's consumer and community affairs programs.

Other Information:

Although the enactment of the Dodd-Frank Act led to the transfer of certain rulemaking responsibilities of the Board's Division of Consumer and Community Affairs (DCCA) to the Bureau, which we address under Goal 2, DCCA retains a key role in maintaining consumer financial protection through compliance examinations and enforcement responsibilities for Board-regulated banks with total assets of $10 billion or less. In addition, the Board retains rulemaking authority under o the Community Reinvestment Act, o the National Flood Insurance Act, o the interchange fees provision of the Electronic Funds Transfer Act, and o several provisions of the Fair Credit Reporting Act. Also, consumer protection rulemaking for auto dealersremains with the current agencies, including the Board. We will initiate scoping activities to assess the risks associated with the various responsibilities and functional changes in DCCA as a result of the Dodd-Frank Act. In addition, we plan to review DCCA's compliance examination and enforcement activities for Board-regulated banks with total assets of $10 billion or less, as well as other actions planned to meet the requirements of the Dodd-Frank Act.

Indicator(s):

Indicator:1

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