CFPB Releases Comprehensive Guide Urging States to Strengthen Consumer Protection Laws Amid Federal Uncertainties
In response to a shifting regulatory landscape, the Consumer Financial Protection Bureau (CFPB) has recently issued guidance recommending that states enhance their consumer protection laws. This comes amid anticipation of scalebacks in federal oversight under the current administration, including significant budget cuts and layoffs at the CFPB. The CFPB’s report traces a long history of cooperation between state and federal governments aimed at safeguarding consumers. It highlights lessons from past economic hardships, such as the savings and loan crisis of the 1980s and the 2007-2008 mortgage crisis, stressing the need for vigilant oversight. To this … Read more