While most attention is focused on the CFPB, state attorneys general are very active in investigating and enforcing state laws relating to consumer financial services (and often federal laws when incorporated into state law or when using their Dodd-Frank authority).  …

In remarks given on Tuesday to the National Association of State Attorneys General (NAAG), CFPB Director Chopra promoted an aggressive approach to enforcement by both the CFPB and state attorneys general (AGs).

In his most noteworthy remarks, Director Chopra:

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In the latest demonstration that there’s a “new CFPB” as well as other new regulatory sheriffs in town, the CFPB, the federal banking agencies (OCC, FDIC, Federal Reserve Board, and NCUA), and state financial regulators issued a joint statement yesterday …

We discuss recent and ongoing enforcement activity of the PA AG involving consumer financial services.  Our conversation focuses on activity directed at: auto title lenders for alleged violations of PA usury law; national banks for alleged CARD Act violations; furniture …