by Paul Connell, Swain Wood, Frank Gorman, John Wells, Mathew Benedetto, and Zach Lass
Top left to right: Paul Connell, Swain Wood, and Frank Gorman.
Bottom left to right: John Wells, Matthew Benedetto, and Zach Lass. (Photos courtesy of Wilmer Cutler Pickering Hale and Dorr LLP)
On January 14, 2025, the Consumer Financial Protection Bureau (CFPB) issued a report titled Strengthening State-Level Consumer Protections (the Report) as the agency prepares for the change in presidential administrations. The CFPB offers recommendations to states to strengthen their consumer protection laws and increase enforcement activity against certain companies, including banks and other financial services companies. The Report was accompanied by a lengthy Compendium of Recent CFPB Guidance, which includes a significant amount of the agency’s Biden-era guidance, stating that it is the CFPB’s hope that these “guidance documents implementing the federal consumer financial laws prove useful to the courts in their interpretation of those laws, as well as to the various enforcers of them.”