During the July-September quarter, federal and state regulators brought 37 enforcement actions against consumer finance providers, a slower pace than the 46 cases in 2Q and 69 actions in 3Q of last year, according to law firm Goodwin Procter. The sectors targeted most frequently included auto lending, where seven actions were reported, and payday lending, which saw six actions. There were six mortgage-related enforcement actions. The CFPB, which has been seeking tougher rules on payday and auto lending, was responsible for the largest number of actions during the latest quarter, bringing 17 cases. Other regulators include state attorneys general and federal agencies such as the Justice Department and the Federal Trade Commission. (firstname.lastname@example.org; @TokyoWoods)
The article is available here (subscription required). Enforcement Watch’s complete analysis of Q3 enforcement trends, with interactive charts, is available here. For specific questions regarding trends by enforcers, industry, or other data, please feel free to contact Kyle Tayman, Joseph Robbins, or Levi Swank.