Issue link: http://dsnews.uberflip.com/i/1345366
17 CFPB to run it. We already have it in place, and they are doing the exact type of regulatory investigative work on the statewide level that the CFPB does on a national level. I think you are going to see more states do that as well, and I understand why. ere's a perception out there amongst some in the legal community that the CFPB is not enforcing things the way it did under prior years. ere's a perception among various state attorneys general that they are needed to fill a perceived void in enforcement. We have seen a stepped-up enforcement in Pennsylvania. Our Department of Banking and our Office of the Attorney General have certainly concentrated more on borrower and consumer protection. And I understand why. In times like this, with higher unemployment and a crisis on a national level, the attorneys general and the regulatory bodies are going to want to look out for borrowers and consumers. is is one of the natural repercussions you are going to see of that: an enhanced regulatory environment and additional bodies like mini-CFPBs popping up around the country. However, once those are created, they're not just going to go away when COVID-19 ends. So there is just another regulatory layer—and a double layer of enforcement, ultimately—that services are going to have to be on the lookout for it. You are going to have to deal with the AGs, the CFPB, mini-CFPBs, and others, so ultimately it may actually further complicate the process. With a new administration in place, I expect that CFPB enforcement by regulation and legal action will increase, and there will be more joint CFPB-state enforcement actions. "There's a perception among various state attorneys general that they are needed to fill a perceived void in enforcement." Delivering news you need. When you need it. Sign up for new alerts each morning to get the industry's top stories delivered direct to your inbox. Register for the Daily Dose at DSNews.com F R E S H L E Y B R E W E D , E V E R Y M O R N I N G R E G I S T E R F O R T H E D A I L Y D O S E A T D S N E W S . C O M GET YOUR MORNING PICK-ME-UP