Consumer Agency Spawned By Dodd-Frank Flexes Its Muscles

A half million dollar settlement between the Consumer Financial Protection Bureau and a Florida “debt settlement” company could be a prototype. The CFPB, a product of  the Dodd-Frank legislation, can go after abusive practices, augmenting the more familiar “unfair or deceptive” that falls under the purview of the FTC. Enforcement activity by the two agencies may overlap, the writer says, and the net effect will be more scrutiny and more regulation.