Wednesday, January 26, 2011

A Regulator Is Coming Your Way Soon

Below, read about the gearing up of the new euphemistically named Consumer Financial Protection Bureau

Summer 2011 Undergraduate and Graduate Internships (10 Weeks)

The U.S. Treasury Department is currently working to execute the Dodd-Frank Act by building the Consumer Financial Protection Bureau (CFPB). The CFPB Implementation Team seeks undergraduate and graduate interns for the summer of 2011.


This is an exciting and unique opportunity to participate in the ground-up construction of a brand new federal regulatory agency. Candidates should be comfortable managing multiple complex tasks in a fast-paced environment. Past intern projects have included: researching and analyzing consumer protection legislation; conducting legislative and regulatory research; researching issues in the field of consumer finance, such as mortgage and credit card disclosure policies; drafting talking points and memos; and providing administrative support. Law students will conduct legal research and writing, among other tasks, and will be supervised by attorneys.

Interns will be assigned to one of several policymaking teams, which are responsible for building the individual divisions of the CFPB. These divisions include, for example:

* Bank and Nonbank Supervision, which will review business practices to ensure that financial services providers are following the law;

* Consumer Response, which will operate a toll-free consumer hotline and website for complaints and questions about consumer financial products and services;

* Enforcement, which will enforce federal consumer financial laws;

* Research, which will collect and analyze information about consumer financial markets;

* Rulemaking, which will write new rules that are required by the Dodd-Frank Act; and

* Financial Education, which will seek to ensure that consumers have the information they need to make the financial decisions that work for them and their families.


Prior knowledge of consumer financial issues and /or law is helpful but not required. Candidates must be enrolled in a degree-granting academic program, have excellent analytical and writing skills, and must be comfortable using Microsoft Word, Excel, and PowerPoint.


Candidates should submit a resume and cover letter by January 30, 2011 to Candidates should indicate if they would prefer to be placed into particular policy teams. Offers will likely be made by late February.

The U.S. Treasury Department and CFPB are Equal Employment Opportunity Employers.

The long tentacles of government regulation are coming your way soon.  Enjoy!

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