American Banker: CFPB enforcement actions plummet under Chopra

Kate Berry has the story here (behind paywall but available on Lexis). Excerpt:

* * * The consumer watchdog has filed just five enforcement actions so far this year compared with 20 last year, which marked the second-lowest number on record; just 10 enforcement actions were brought in 2018 during the Trump administration. By comparison, Cordray filed 27 enforcement actions in 2013, 32 in 2014 and 57 in 2015, a record high.

* * *

Still, lawyers representing banks and financial firms say the bureau is busy ramping up enforcement with more actions expected in the second half of this year.

The article also includes speculation as to the reasons.

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