Jacquot Comments on Future of CFPB

Partner Joe Jacquot is quoted in an American Banker article, “Would CFPB Nominee Hamstring the Agency by Slashing its Budget?” about the future of the Consumer Financial Protection Bureau under new leadership.

Jacquot said he thinks the agency will come to more closely mirror the Federal Trade Commission’s approach to enforcement. “We’re in a phase where the bureau wants to understand itself and firm up its own structural flaws before ramping up enforcement,” he said. “I see the CFPB looking at the structural issues and trying to get a sense of what is their statutory mandate.”