Following the dismissal of Chopra, Trump appointed Bessent as acting CFPB director, leading to a freeze on the agency's operations. Concurrently, a report released by Chopra’s CFPB called for renewed state-level enforcement of consumer protections, highlighting the historical role states have played in this area. The report advocates for updating state laws in response to modern economic realities, including corporate concentration and advanced scams, suggesting that states are crucial in protecting consumers from evolving threats.
The report highlights that states historically have led consumer protection enforcement and urges a renewal of state efforts to tackle modern economic challenges.
In response to evolving markets, states are encouraged to refresh UDAP statutes to counteract increased corporate concentration and abuse.
Collection
[
|
...
]