For the first quarter of 2016, Consumer Finance Enforcement Watch tracked 50 enforcement actions taken against consumer finance providers, marking a slight increase from the 46 actions we had tracked a year ago in Q1 2015. Of the Q1 2016 enforcement actions, the majority were settlement agreements.
Consistent with the trend observed in 2015, federal agencies continue to bring the majority of actions, compared to actions by state attorneys general and state regulatory agencies. Three actions were brought jointly by state attorneys general and federal agencies. The CFPB remains the most active federal agency, having initiated twelve enforcement actions. The Massachusetts Attorney General's Office was notably involved in 7 enforcement actions, which exceeded the number of enforcement actions brought by the attorneys general of more populous states such as Florida (2) and New York (2).
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