New York vows to ‘fill the gaps’ left by Trump’s regulation rollback

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The act was a “significant tool that DFS could try and wield if it wants to”, added Levine, who was at DFS during the first Trump administration, and is now a partner at Elliott Kwok Levine.“If enforcement by the CFPB is rolled back, there is an opportunity for DFS to step into that void in a number of the same areas.

It is also able to bring non-licensees to heel via a provision in the federal Consumer Financial Protection Act to police “unfair, deceptive, or abusive” practices.

When it comes to financial oversight, the DFS had “quite broad powers” over licensees, said Matt Levine, a former executive deputy superintendent for enforcement at the agency.

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Article Details

Author / Journalist: Joe Miller

Category: MarketsFinanceInvesting

Markets: United States

Topics: Capital Harris It’s Consumer Protection Administration Don’t Financial Trump York’s Federal

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-24 @ 05:00:52 (5 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 816 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 24702152

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Year Established: 1888

Headquarters: United States

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