Last week's enforcement order against Capital One "signaled the CFPB is shooting for higher settlement amounts, is more interested in providing a detailed account of what went wrong, and wants to specify exactly what institutions should do in similar situations," writes American Banker's Kevin Wack.

The total $210 fine "was a lot larger than a slap-on-the-wrist or a don't-do-it-again fine," said one industry observer.

Unlike most "the CFPB's consent agreement includes numerous findings of fact about Capital One's business practices," writes Wack. That transparency could be a good thing for bankers. "It may make it easier for the financial-services industry to understand why the CPFB is doing what it's doing," said an unnamed source.

And how many other banks are going to be in the same boat as Capital One? Consumer advocates say "the problems encountered are unlikely to be isolated to just one institution," writes Wack

For the full piece see "Four Key Takeaways for Banks from the CFPB's First Enforcement Action" (may require subscription).