News & Analysis as of

Biden Administration State Attorneys General Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

Committee chairman asks Fed inspector general to investigate CFPB, Chopra for potential abuses

On June 26, the Chairman of the House Committee on Financial Services Subcommittee on Oversight and Investigations, Rep. Don Meuser (R-PA), sent a letter to the acting inspector general for the Fed and CFPB to investigate...more

Cooley LLP

Trump CFPB Asserts Narrower Role for State Enforcement of Federal Consumer Law

Cooley LLP on

On May 15, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that rescinded a May 2022 interpretive rule regarding the extent of states’ enforcement authority under Section 1042 of the Consumer...more

Goodwin

2024 Year in Review - Overview: 2024 Lessons and 2025 Emerging Trends

Goodwin on

Welcome to the “Overview: 2024 Lessons and 2025 Emerging Trends” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. As Goodwin predicted in our previous year in review, the enforcement and...more

Hogan Lovells

The Biden Administration and State Attorneys General continue to take aim at eliminating “junk fees”

Hogan Lovells on

In his recent State of the Union address, President Biden echoed his administration's commitment to tackling "junk and hidden fees," defined as charges to consumers providing little to no value and preventing clear...more

Jones Day

What the Financial Services Industry Can Expect From State Attorneys General in a Biden Administration

Jones Day on

State attorneys general have become significant players in the financial world, using a number of special investigative and enforcement tools to investigate and prosecute alleged wrongdoing by financial market participants....more

Cadwalader, Wickersham & Taft LLP

State Attorney General Insider – Winter 2020-2021 | December 2020 | Issue No. 3, Broad Strokes: State Attorneys General Continue...

Since our last Insider, much of the policy and enforcement focus of the state Attorneys General has been centered on issues around the COVID-19 pandemic, social unrest and election integrity....more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Morgan Lewis

Q&A: Consumer Protection Outlook Under the Biden Administration

Morgan Lewis on

It’s clear that President Joe Biden’s approach toward consumer protection and financial services enforcement will differ from that of his predecessor. In addition to general housekeeping matters, such as replacing and hiring...more

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