Looking to avoid being caught in the crosshairs of increased scrutiny by the U.S. Department of Justice (DOJ), Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), federal banking regulators, and state Attorneys General?

It’s no secret that consumer financial services providers and their vendors are being heavily scrutinized by federal and state enforcement agencies.  Federal and state enforcement officials have shifted their focus to financial services providers, including small dollar lenders, mortgage lenders and servicers, telemarketers, private student lenders, debt collectors, and their third party payment processors and other vendors.  The DOJ’s Operation Choke Point (OCP), and other government enforcement actions targeting financial services providers and vendors, are examples of this enforcement evolution.  In addition, state Attorneys General are actively enforcing the same laws and regulations as the CFPB. 

These topics in the consumer financial services sector, among many others, were discussed during a webinar, Understanding Federal and State AG Financial Services Enforcement Trends, recently hosted by Venable’s CFPB Task Force.  Hear thoughts from Venable partners in the trenches:   former Senator and Arkansas Attorney General Mark Pryor, former DOJ Prosecutor Michael Bresnick, Jeff Knowles, and moderator Jonathan Pompan, co-chair of the firm’s CFPB Task Force, on where they think government scrutiny is headed, and how companies can avoid it.

Topics included:

  • An insider’s view of the Financial Fraud Enforcement Task Force Consumer Protection Working Group;
  • Coordination and individual efforts by and among the DOJ, CFPB, FTC, banking agencies, and states;
  • The practical impact of OCP and similar initiatives;
  • Compliance best practices and strategies to avoid and survive investigations; and
  • Ways to minimize regulatory and enforcement overreach.