Coping with the uncertainty of the Dodd-Frank Act's implementing rules and its newly-formed Consumer Financial Protection Bureau (CFPB) will be among U.S. financial institutions' foremost concerns in 2011. And so will numerous other compliance and risk management challenges, according to the experts at Wolters Kluwer Financial Services. Heather Czermak, director of Consumer Compliance for Wolters Kluwer Financial Services, has observed that the financial services industry is taking a definite wait-and-see approach to addressing the passage of the Dodd-Frank Act. "Financial institutions are watching their federal regulators closely to see what their next moves will be in terms of instituting requirements," said Czermak. "But that doesn't mean they're sitting idly by. To prepare themselves for the imminent changes to come, many are conducting thorough compliance and risk management program reviews to help ensure they'll meet any new requirements thrown their way."