Document Type
Article
Publication Date
4-9-2021
First Page
41
Volume
82
Issue
1
Source Publication Abbreviation
Montana Law Review
Abstract
When COVID-19 triggered a historic economic crisis, millions of Americans lost income and fell behind on debts, and complaints to the Consumer Financial Protection Bureau (CFPB) hit record highs. This article argues that the agency, created after the 2008 crisis to protect consumers, largely failed to respond. Through early 2021, it filed no public enforcement actions tied to the pandemic, announced it would relax oversight of rules, and brought smaller cases with less consumer harm, redress, and penalties. The author recommends faster, visible enforcement, partnering with states, and clear guidance on unfair practices during the pandemic, signaling consumers remain protected.
Recommended Citation
Craig Cowie, Is the CFPB Still on the Beat? The CFPB's (Non)Response to the COVID-19 Pandemic, 82 Mont. L. Rev. 41 (2021).