Agencies with jurisdiction over financial services, particularly the Consumer Financial Protection Bureau (CFPB), have taken aggressive enforcement actions following the financial crisis. These federal regulators have exercised authority across the board to make new regulations governing financial services markets, including many regulations under the Dodd-Frank Act.
Following the financial crisis there was also increase in litigation brought both by government agencies and the private sector.
With the crisis now well behind us, it’s difficult to predict what the litigation climate will look like in financial services under the new administration. An administration committed to deregulation could mean we would see less private litigation and perhaps government enforcement litigation in the coming months and years.