Multistate Coalition Sends CFPB Letters Opposing Proposals Shrinking Bureau Authority

Nineteen Democratic attorneys general, led by California AG Rob Bonta, are urging the CFPB not to reduce its supervision of key consumer finance sectors, including auto lending, debt collection, and money transfers. The AGs warn that raising the thresholds for “larger participant” oversight would leave millions of consumers unprotected and weaken the CFPB’s enforcement reach. The letter signals states’ continued commitment to fill potential gaps in federal oversight through coordinated enforcement. Hosted by Simone Roach. Based on a blog post by Paul L. Singer, Beth Bolen Chun, Abigail Stempson, and Darby B. Hobbs