Pearson Quoted in Compliance Week on Potential Financial Regulations Under a Biden Administration

What would a Democratic regulatory agenda look like under Biden?
– Compliance Week

Manatt Financial Services partner Scott Pearson spoke with Compliance Week about how a Biden administration might regulate the financial services industry, should Joe Biden win the 2020 presidential election. In particular, Pearson noted that the CFPB might be used to address issues like fair lending, racial justice and high-cost consumer loans, saying “Biden would return the CFPB to its Obama-era mentality.” He also said that a Biden administration ”will probably believe in regulation by enforcement, stronger consumer protection laws, and spend less time worrying about how their approach affects compliance efforts and the availability of credit.”

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