The CFPB’s favorite enforcement targets: banks (no surprise there) and lawyers

According to this article by Jenna Greene, the Consumer Financial Protection Bureau has been targetting lawyers in its enforcement suits. Here's an excerpt:

The agency has filed more lawsuits against lawyers than almost any
other group, according to an analysis by The National Law Journal,
bringing six suits against legal services providers. Only the banking
industry — also the subject of six suits by the CFPB — was equally
stung. In addition, the agency has asserted that debt-collection
lawyers are subject to its direct supervision, including on-site
examination of books and records. When the consumer agency opened
its doors in July 2011, banks, mortgage companies and other lenders
braced for lawsuits — and loudly complained about the new agency's
powers. But lawyers were quiet, seemingly unaware that they, too, could
find themselves in the CFPB's cross hairs. * * * What makes the actions so surprising is that the Dodd-Frank Act that
created the agency specifically exempts lawyers from CFPB oversight.
Section 1027 of the act states that the agency "may not exercise any
supervisory or enforcement authority with respect to an activity engaged
in by an attorney as part of the practice of law." … A CFPB spokesman in an email acknowledged that limitation, but said
that "nothing prevents the bureau from exercising its authority with
respect to a consumer financial product or service offered or that is
provided outside of the scope of an attorney-client relationship."

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