31 WHAT WE’RE WATCHING: 2018 EMERGING ISSUES Goodwin predicted in 2017 that state actors, including state attorneys general and regulatory agencies, might redouble their efforts to enforce consumer protection laws if the pace of federal enforcement actions were to decelerate under the Trump Administration. In line with this anticipated outcome, several state actors (some of which are vocal opponents of the Administration) have exercised increasing regulatory and enforcement pressure on financial institutions, including Massachusetts, New York and Florida. In 2017, just over 37% of enforcement actions were driven by state actors. This represents a 5% increase from 2016, and a nearly 10% increase from 2015. ENFORCEMENT TRENDS – INCREASING ROLE FOR STATE ACTORS 0 20 40 60 80 100 2017 2016 2015 7. Proportion of State-Federal Year of Press Release 29.86% 59.66% 9.09% 4.27% 63.9% 31.25% 56.71% 6.16% 39.02% % of Total Action Number Adjusted Joint State Federal PROPORTION OF STATE-FEDERAL ACTIONS For more information, please visit www.lenderlawwatch.com or www.enforcementwatch.com