News

September 12, 2018

Partner Eric Johnson Debunks CFPB Death Rumors

In the September/October issue of Non-Prime Times, the official publication of the National Automotive Finance Association, Partner Eric Johnson explains why the Consumer Financial Protection Bureau, now re-born as the Bureau of Consumer Financial Protection ("Bureau"), is still very much alive and kicking. Eric outlines the Bureau's recent actions, including at least six new enforcement actions since April, subpoenas and CIDs being issued, ongoing investigations and new examinations being scheduled. Additionally, he points out that state attorneys general across the county are getting even more aggressive about prosecuting cases in which financial fraud or discrimination are suspected, with some states creating "mini-CFPBs" and looking at passing CFPB-like legislation that will pick up where federal laws may be lacking.

Read Eric's article here. Visit NAF to subscribe for free to the newsletters.


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