In her State of the State address earlier this month, New York Governor Kathy Hochul proposed a significant expansion of New York’s consumer protection laws.
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A more “aggressive” CFPB is not just something that compliance professionals are warning about – it is a term that the Consumer Financial Protection Bureau has started to use on a regular basis to describe its own actions. If that wasn’t enough of a red flag that regulators are ramping up, states are creating their own mini-CFPBs to become the enforcers for local consumers’ rights.
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