BABC Partner Paul Compton Interviewed in Birmingham Business Journal

Bradley Arant Boult Cummings’ Birmingham partner Paul Compton was recently interviewed in the Birmingham Business Journal regarding the Dodd-Frank Wall Street Reform and Consumer Protection Act. Compton discusses the financial reform’s regulations and dates effective, explaining that the act is meant “…to revamp the regulation of ‘too big to fail’ institutions and to address perceived abuses in mortgage origination and sale activity.” The newly formed Consumer Financial Protection Bureau (CFPB), the executive muscle of the Dodd-Frank Act, will have authority over many institutions, as well as authoring and enforcing regulations. Of the new regulations, Compton says, “I actually think the notion that a lot of unregulated entities are now going to be regulated is welcomed…Commercial banks, for a long time, I think they felt they were on an unlevel playing field.”