With the Democrats in control of the House, the Senate, and the White House, combined with the ongoing effect of COVID-19’s effect of consumer lending, we anticipate a heightened focus on consumer protection issues and financial services enforcement at every level in 2021.
President Biden recently appointed FTC Commissioner Rohit Chopra to head the Consumer Financial Protection Bureau (CFPB). As we await Chopra’s Senate confirmation process, there is much to consider in terms of what the future may bring for consumer lending, including the recently released report of the CFPB’s Taskforce on Federal Consumer Financial Law’s recently released report. Noteworthy among the recommendations in the taskforce's report is that the CFPB be given the authority to license and regulate financial technology companies. If implemented, that change would broaden the CFPB’s regulatory oversight powers.
This is a recording of our first Consumer Financial Services Litigation Webinar of 2021. The recording discusses what the incoming Biden-Harris administration’s likely policy, regulatory and enforcement agenda might mean for banks and financial institutions. Specifically, our attorneys touch on:
The major legislative, regulatory and administrative acts that are likely to be prioritized by the Biden-Harris administration;
The Biden-Harris administration’s financial regulatory agency appointments, including Chopra to head the CFPB, and their backgrounds, and expected platform for change; and
COVID-related impacts, including the status of the federal foreclosure and eviction moratoria.
Consumer Financial Services Webinar Series
Given the magnitude of the potential changes ahead, Seyfarth has developed a webinar series designed to convey strategies and best practices to help you to ensure that your company and internal clients are prepared for what is ahead. To take part in the webinars, please subscribe to our mailing to list receive future invitations. We urge clients interested in this topic to register immediately.
If you have any questions, please contact Kelli Pacha at email@example.com and reference this event.
* This recording is eligible for CLE credit in CA, IL, NY, and NJ. Credit is pending in TX. All other jurisdictions will be applied for as requested, but please note that not all states allow for distance learning so some states will be ineligible. To request CLE credit, fill out this form and return it to CLE@seyfarth.com. If you have questions about jurisdictions, please email CLE@seyfarth.com. CLE credit for this recording expires on 2/23/2022.