Gottlieb Discussed CFPB Enforcement Landscape with Bank Director

The Coming Russell Rebalancing Judgment Day
– Bank Director

Manatt Financial Services Partner Richard Gottlieb discussed what the Consumer Financial Protection Bureau’s banking regulatory environment might look like during the Biden Administration with Bank Director. The publication noted that last month, Acting CFPB Director Dave Uejio said the agency will no longer “decline” to issue penalties for abusive practices in certain circumstances as it did under the Trump administration. Gottlieb interpreted this as a potential threat to the banking industry, which is in the midst of radical technological trans­formation and wonders whether the newly emboldened enforcement could put a chill on innovation.

Bank Director subscribers can read the full article here.

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