The CFPB's Future Is Unclear, But Its $42 Million Judgment Still Sends A Clear Message

If we could use only one word to describe the future of the Consumer Financial Protection Bureau, I think most of us would agree on the word "uncertain." However, one thing seems certain to occur as we wait to see what will happen with the CFPB: a rise in state enforcement efforts.

As he was wrapping up his time at the CFPB, former Director Rohit Chopra was anticipating and supporting these efforts. Before Chopra left the CFPB, he and former CFPB General Counsel Seth Frotman published an article in the Harvard Law School Journal on Legislation, titled "State Enforcement as a Federal Legislative Tool." In the article, Chopra and Frotman stressed the power of states to enforce federal consumer protection laws against entities covered by the Consumer Financial Protection Act. According to the article, to date, states have brought about 50 enforcement actions under this authority. The enforcement actions involved a diverse group of laws and claims, regardless of