State Attorneys General Take on CFPB Roles

Can State AGs Really Serve as ‘Mini-CFPBs’?
– American Banker

Manatt’s Richard Gottlieb, co-chair of the firm’s financial services group, was quoted by American Banker for an article on the creation of smaller Consumer Financial Protection Bureaus.

The publication noted that 17 state attorneys general have said they would step in if Acting Director Mick Mulvaney loosened enforcement, and are willing to create mini-CFPBs. However, some onlookers believe that enforcement is sufficient and that there is no need to create them.

Gottlieb said that enacting mini-CFPBs “hasn’t been as necessary as some would have thought.”

Read the article here