New York Consumer Law Blog

Monday, December 11, 2017

When it comes to financial consumer protection state attorneys general wield an additional potentially powerful weapon.

A little-known provision of the 2010 Dodd-Frank law, which created the CFPB, gives them the authority to enforce the agency’s rules and its broad ban on “unfair, deceptive and abusive” practices beyond state lines.

States have rarely used those provisions while Richard Cordray, appointed by President Barack Obama and known for aggressively pursuing financial firms, was in charge of the watchdog.

 

https://www.reuters.com/article/us-trump-effect-cfpb/u-s-states-gird-for-fight-as-trump-targets-consumer-finance-watchdog-idUSKBN1DV5LQ


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