pdf

Law360: CFPB May Fill Enforcement Gap After FTC’s High Court Loss

May 06, 2021

O’Melveny counsel Melissa Guidorizzi, who recently joined the firm from the Consumer Financial Protection Bureau, spoke with Law360 about the US Supreme Court’s recent decision to curtail the FTC and the enforcement implications for the CFPB. 

“What I learned as a federal regulator is that the agencies do interact more than some would think from their external positions,” Guidorizzi said. “A lot of that is driven by good working relationships, so if a future Director Chopra already knows the FTC well enough to leverage its resources, that could make coordination more efficient and more available.”

Guidorizzi went on to say that collaboration between the CFPB and FTC was executed  “very much on a case-by-case basis,” suggesting that future collaboration would still be limited, even with the recent SCOTUS decision. Regardless, consumer protection issues are becoming a priority, Guidorizzi noted. “The fact that the bureau may take a more leading role could be a significant issue for some clients.”

Law360 subscribers can read the full article here.