The Dodd-Frank Act, a 2,300-page behemoth of financial law changes, was signed into law by Pres Obama on Jul 21, 2010. Just last month, the Treasury Department announced in the Federal Register that the designated transfer date on which the new Consumer Financial Protection Bureau will officially assume jurisdiction over all consumer protection laws is Jul 21, 2011. The target date for publishing the final regulations on mortgage lending reforms is 18 months later, on Jan 21, 2013. Safety and soundness regulators will have little to say about the new agency's regulations and practices. The new agency will not have to go to Congress for funding.