The Consumer Financial Protection Bureau finalized its first rule, took its first enforcement actions, and landed its first deals with state regulators and municipalities to enhance data sharing all during the agency's first year. The CFPB's most challenging work, however, is still to come.

The CFPB, created under the Dodd-Frank reform law, is required to finalize new mortgage rules by Jan. 21. These rules will include, "regulations governing so-called qualified mortgages, originator compensation, high-risk appraisals, high-cost mortgages, escrow requirements and force-placed insurance," writes American Banker's Rachel Witkowski.

During 2013, the agency is forecasted to increase its supervision and enforcement activities. And in the following year, Director Richard Cordray is expected to leave, making the CFPB leadership unknown.

For the full piece see "Hard Part Just Starting for CFPB After Busy First Year" (may require subscription).