Consumer Agency Using 'Every Tool' to Step Up Scrutiny of Financial Institutions
Chris Willis, co-leader of Troutman Pepper's Consumer Financial Services Regulatory practice, is quoted in the Market Intelligence article " Consumer Agency Using 'Every Tool' to Step Up Scrutiny of Financial Institutions."
More actions are expected, according to Chris Willis, co-leader of the Consumer Financial Services Regulatory Practice at Troutman Pepper.
"One would think that you would also see the bureau pay attention to all fees in supervisory and enforcement actions," Willis told Market Intelligence in an interview.
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In recent weeks, the agency has taken increasingly vigorous actions against specific financial institutions, indicating that "they'd rather sue than settle," Willis said. "The bureau seems to indicate that it wants to litigate more. Never have you seen so many litigation cases."