CFPB Reverses Biden-Era Guidelines, Curtailing States’ Authority in Consumer Protection Enforcement

The Consumer Financial Protection Bureau (CFPB) has formally retracted guidance put in place during the Biden administration that had expanded states’ capabilities to enforce federal consumer protection laws. This decision marks a continuation of the bureau’s recent actions to roll back nearly 70 interpretive rules, policy statements, and advisory opinions, which have been the norm since the inception of the Consumer Financial Protection Act in 2010. Christine Hines from the National Association of Consumer Advocates described the bureau’s current aim as an attempt to dismantle previous consumer protection frameworks. For further details, visit the original article.