CNN Speaks With Meredith Osborn on CFPB’s Consumer Protection Freeze
Meredith Osborn, a partner in the firm’s Financial Services group and former Chief Trial Deputy at the City Attorney’s Office for San Francisco, was recently quoted in CNN's article, "From credit cards to medical debt: What may happen to some key consumer protection rules under Trump." The article discussed the Trump administration’s sweeping freeze on the Consumer Financial Protection Bureau’s activities, raising concerns about the future of consumer financial protections.
“Medical debt rulemaking is on the chopping block,” Osborn told CNN, referring to the CFPB’s recently finalized ban on including medical debt on credit reports. She also highlighted the potential rollback of other key consumer protections, such as caps on credit card late fees and overdraft charges, given the administration’s regulatory stance.
Despite the uncertainty, Osborn noted that the CFPB’s authority remains unless Congress moves to amend the Dodd-Frank Act. “Until Congress passes a law rescinding in part or in whole the Dodd-Frank Act, there will be a CFPB,” she said. “How energetic and impactful it will be is an open question.”
