On November 14, 2012, Pepper Hamilton attorneys Richard P. Eckman and Stephen G. Harvey conducted a webinar entitled "Is the Attorney-Client Privilege Under Attack by the CFPB?" to review a new rule by the Consumer Financial Protection Bureau 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.
The U.S. Senate passed a bill concerning privileged information provided to the CFPB on December 11, 2012 and was signed by President Obama on December 20, 2012. Pepper partner Frank A. Mayer, III sat down to provide an update to this attorney-client privilege discussion in light of these recent developments.
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