Enforcement Action Developments and Trends at the "New" CFPB

Although the Senate has not yet confirmed Rohit Chopra as the new Director of the  Consumer Financial Protection Bureau (CFPB), Acting Director Uejio has not wasted any time in revitalizing enforcement initiatives. During a relatively short period of time, the CFPB enforcement activity seems to have made a 180 degree turn away from the laissez-faire Trump/Kraninger era and now looks a lot like what was experienced during the Obama/Cordray era. During this webcast, we will take a very close look at this metamorphosis, describe the changes that have already taken place, and the products and practices that are currently being scrutinized. In particular, we will discuss:

• Management changes in the Supervision and Enforcement Division
• Fair lending practices that are being examined
• The focus on the Military Lending Act
• CFPB expectations regarding COVID-19 servicing of mortgages and student loans
• The CFPB's view on new FinTech products like Earned Wage Access, income share agreements, and Buy Now, Pay Later
• Other products, services, and practices that are in the CFPB’s crosshairs