In the dynamic landscape of today's fast-paced financial world, staying ahead of the curve is not just an advantage; it's an imperative. Consumer finance, a realm where litigation and regulations are continually evolving, holds a pivotal role in shaping how individuals and businesses manage their finances. It's a landscape where the rules are rewritten, and the game is constantly changing.
Consumer financial service regulators have been actively expanding their reach and authority over financial institutions, nonbank partners, and service providers over an increasing number of business practices. Since much of this expansion is accomplished without formal rulemaking, it is important for financial service companies to stay on top of the informal agency guidance and actions. We will discuss the latest regulatory trends and developments and what to watch for in 2023 from agencies including the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and Office of the Comptroller of the Currency (OCC). We will also discuss notable enforcement actions and litigation in these regulatory areas.
