States Must Fill Void Created By CFPB Regulatory Vacuum

Law360 (March 2, 2018, 10:57 AM EST) -- Our nation’s most aggressive consumer watchdog has essentially been muzzled as the new administration works to defang the Consumer Financial Protection Bureau previously tasked with targeting financial institutions that engage in fraudulent business practices.

In November 2017, Consumer Financial Protection Bureau Director Richard Cordray prematurely resigned to run for governor of Ohio, even though his five-year term was set to expire in the middle of 2018. Under Cordray’s leadership, the CFPB made progress in effectuating the agency’s original mission of “help[ing] consumer finance markets work by...
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