CFPB's Tough Tactics Rubbing Off On Other Regulators

Law360, New York (September 26, 2012, 7:02 PM EDT) -- The Consumer Financial Protection Bureau's robust enforcement actions and investigations have spurred other banking regulators to take a more forceful approach on consumer finance issues, attorneys say.

Although the CFPB has only announced two enforcement settlements — a $210 million July settlement with Capital One Financial Corp. and a $214 million deal with Discover Financial Services announced Monday — both have been larger than the typical settlement between a bank and its regulators.

What raised the eyebrows of attorneys who represent banks is that both of...
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