As federal enforcement priorities shift under a second Trump Administration, state regulators and Attorneys General appear to be stepping up their oversight efforts over consumer financial services activities. With expanded authority, resources and multistate coordination, states appear ready to take the lead in enforcing compliance with financial services related laws, rules and regulation and to vindicate perceived harms in this space. For banks and nonbank financial institutions alike, this means a more complex and less predictable regulatory landscape, making it critical to track state-level activity and adapt compliance strategies accordingly.
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