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Enforcement Actions Drop Sharply at Trump-Led CFPB

Oct. 11, 2018, 9:30 AM

The Consumer Financial Protection Bureau took only three enforcement actions in the third quarter of 2018 and is on pace for the lowest yearly total in its seven years of existence.

The bureau levied $1.6 million in penalties in the three-month period ending in September, compared to $7.3 million on eight actions during the third quarter of 2017, according to Bloomberg Law’s CFPB Enforcement Tracker.

The enforcement drop shows that acting CFPB Director Mick Mulvaney, who was put in charge of the CFPB last November by President Donald Trump, is following through on his pledge to curb enforcement activity. Mulvaney...

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