Law360 (Mar 10, 2021, 4:24 p.m. EST) – Various indicators suggest that litigation and regulation enforcement related to consumer financial products will increase significantly in 2021 and in the years to come.
With the election of Rohit Chopra as head of the Consumer Financial Protection Bureau, the new Biden government has signaled a shift towards increased enforcement of consumer protection regulations.[1] News outlets have reported that fair lending guidelines may be more enforced.[2]
New collection rules created under the Trump administration will soon come into effect. These rules require collection agencies to provide additional information and limit their ability to threaten consumers with lawsuits.[3]
In addition, while …
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