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Insight Center: News

Is the Attorney-Client Privilege Under Attack by the CFPB?

11/15/2012

On June 28, 2012, the Consumer Financial Protection Bureau (CFPB) promulgated a final rule to codify protections for privileged information submitted to it by the financial institutions it regulates. The rule follows the CFPB's announced expectation that, upon request, the entities the CFPB supervises will disclose privileged material to it.

Lawyers and compliance officers for entities subject to CFPB supervision should pay careful attention to the new rule and how it may affect them. Pepper Hamilton hosted a webinar on this topic, "Is the Attorney-Client Privilege Under Attack by the CFPB?" During the webinar, Pepper partners Richard P. Eckman and Stephen G. Harvey discussed the new rule and how the CFPB has stated it will handle your institution's confidential information.

After the webinar was completed, Steve Harvey took a few minutes to discuss what the webinar covered and why the recording would be of interest to those in the banking or financial services industry.

View the webinar recording and download the PPT slides at http://www.pepperlaw.com/webinars_update.aspx?ArticleKey=2469.