BLLOMBERG
Enforcement actions from the Consumer Financial Protection Bureau under its new director are likely, according to senior executives at the American Financial Services Association.
Danielle Fagre Arlowe and Celia Winslow, senior vice presidents at AFSA, said state and federal scrutiny in the automotive finance industry will sharpen under Democratic leadership. Their remarks were made during a Tuesday presentation at the organization's virtual conference.
"The CFPB is going to pick up exactly where it left off with [former director Richard] Cordray," Winslow said. "There's going to be a renewed determination to get back to its roots, but possibly, [there will] be a little bit more of a focus on enforcement."