Menu

Vaishali Rao Analyzes in ARM Compliance Digest: CFPB Announces First Enforcement Action Under New Leadership

March 8, 2021

In the March 8, 2021 edition of the ARM Compliance Digest, Hinshaw partner Vaishali Rao reports on the first enforcement action undertaken by the post-Kraninger Consumer Financial Protection Bureau:

The enforcement action is foreshadowing for additional cases to come that will peel back the layers on possible ways people of color may be paying higher costs than others. In addition, it is a signal of renewed cooperation between the states and Bureau. Companies should expect that the Bureau and state attorneys general communicate regularly about potential cases and find ways to bring enforcement actions together, or in conjunction with one another.

Read the full March 8, 2021 edition of the AccountsRecovery.net Compliance Digest.

Hinshaw & Culbertson LLP is a U.S. based law firm with offices nationwide and in London. The firm's national reputation spans the insurance industry, the financial services sector, and other highly regulated industries. Hinshaw also serves as counsel to the professional services sector, and provides business advisory and transactional services to clients of all sizes.