In The News

No more ‘pushing the envelope’ on enforcement, U.S. consumer bureau chief tells staff


25 Jan 2018

In the Westlaw article “No more ‘pushing the envelope’ on enforcement, U.S. consumer bureau chief tells staff,” Morrison & Foerster partner Donald C. Lampe describes how the more business-friendly approach to the regulatory landscape outlined by acting CFPB direction Mick Mulvaney will impact businesses.

Mr. Lampe explained that he expects the CFPB to operate in a “less punitive way” but continue to enforce consumer protection laws. He added that the change of direction does not mean that “banks should stop paying attention to risk management.” State and federal regulators will continue to apply CFPB rules in examinations and enforcement, and the CFPB acting director will not be restrained by his temporary status but will continue to reshape CFPB.

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