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ARTICLE · 06 JANUARY 2021

Expect A Boost In Consumer Financial Protection Under Biden

Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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Hogan Lovells Cadwalader

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Cadwalader's Rachel Rodman, Keith Gerver and Kendra Wharton cover the expected boost in consumer financial protection under the Biden administration and at state agencies enforcing consumer protection laws.

United StatesConsumer Protection
Rachel Rodman
Rachel Rodman
Keith Gerver
Keith Gerver
Kendra Wharton
Kendra Wharton
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Cadwalader, Wickersham & Taft attorneys say we can expect more consumer-friendly rules and aggressive enforcement from the Consumer Financial Protection Bureau under the Biden administration and at state agencies enforcing consumer protection laws.

Financial institutions should prepare for significant changes in consumer financial protection enforcement and regulation at the federal and state level over the short and medium term under a Biden administration.

Though a closely divided or Republican-controlled Senate means that sweeping legislative changes are unlikely, we expect to see a personnel shift at the chief federal consumer protection watchdog agency, the Consumer Financial Protection Bureau (CFPB), leading to more consumer-friendly rules and aggressive enforcement.

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