This update provides a broad overview of Volumes I and II of the Taskforce Report. We anticipate publishing more detailed analyses of the Report’s specific recommendations for legislative and regulatory reform, as well as drafting blog-posts and hosting webinars and podcasts devoted to emerging areas of federal consumer financial law, throughout 2021. Taskforce Report Volume I provides summaries, analysis and helpful practice aids. In Volume I of the Report, the Taskforce has authored a long treatise explaining nearly everything about consumer financial products, services and federal government regulation of them. It traces the history of federal consumer financial law since 1968, and explains how financial products and services work, as well as incentives for them. It highlights strengths and weaknesses of the current statutes and state and federal regulatory regimes. In large measure it provides all the data, research, background information, analysis, and justification for specific recommendations for changes, refinements, and new initiatives that are set forth in Volume II.