In the Press
December 21, 2022

CFPB ‘Repeat Offender’ Registry Sparks Concerns of Overreach (Bloomberg Law)

The CFPB’s plan to create a registry of all settlements reached by nonbank consumer finance companies is intended to spot bad actors, but some are worried the effort would hamper state and local enforcement. It’s “a possible power grab by the CFPB, to know what other agencies are looking at so the CFPB can follow suit, or go after them for non-compliance, or simply have more control over nonbanks,” said Allison Schoenthal, co-chair of the Banking and Consumer Financial Services practice group, to Bloomberg Law