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October 30, 2024

Will Royce

Blog Post Corporate Crackdown

Corporate Crackdown Successes: The CFPB’s Revival of Robust Consumer Protection

Under Director Rohit Chopra, the Consumer Financial Protection Bureau has facilitated a resurgence in consumer relief won through enforcement actions relative to the Trump years, which were marked by lax enforcement (see the chart below from the CFPB). This increase in relief came amidst industry-driven challenges to the agency’s constitutionality. The case stifled some potential action, but the agency’s enforcement actions have rebounded since the Supreme Court rejected the challenges to its existence.   

October 30, 2024

Jacob Plaza

Blog Post Corporate Crackdown

Corporate Crackdown Successes: The SEC Engaged In Record-Setting Enforcement Actions Under The Biden Administration

Under the Biden administration, the Securities Exchange Commission (SEC) achieved record levels of enforcement. It recovered record sums from imposing penalties, had a high count of enforcement actions, and significant numbers of white collar criminals were disbarred from executive board seats. The SEC has secured these accomplishments through effective litigation, emphatic rulemaking, and rigorous enforcement of the law.

October 30, 2024

KJ Boyle

Blog Post Corporate Crackdown

Corporate Crackdown Successes: The Department of Labor Has Fought For Workers Against Bad Corporate Actors

The Department of Labor (DoL) has been prolific in using its rulemaking abilities to protect workers and increase wages while using its investigative and enforcement authority to hold bad corporate actors accountable. This list is not meant to be comprehensive, but highlights major victories in increasing overtime pay, addressing misclassification of employees as independent contractors, and cracking down on widespread illegal use of child labor. 

October 30, 2024

KJ Boyle

Blog Post Corporate Crackdown

Corporate Crackdown Successes: A Strong FTC Has Made All The Right Enemies

Lina Khan and the Federal Trade Commission have been the target of endless Wall Street Journal hit pieces and antagonistic lobbying from billionaires hoping to cut short Khan’s tenure at the helm of the consumer protection agency. This is not a coincidence. Under Khan’s leadership, the small agency has punched well above its weight by writing cogent rules  to protect consumers, blocking anticompetitive mergers, and bringing enforcement actions to punish illegal corporate practices.