January 5, 2021
Partner William MacLeod
was quoted in the Law360
article, "CFPB Task Force Calls For Fintech Licensing In New Report". The article discusses the Consumer Financial Protection Bureau (CFPB) task force, which recently released a massive report recommending dozens of changes intended to modernize federal oversight of consumer financial services, including calling for the agency to be given authority to license nonbank fintech companies.
MacLeod, who is a member of the task force, described the report as advocating for a "muscular CFPB" that will "fight for competition and for consumers."
"It won't be easy," he said. "Interest groups have stakes in the status quo. But consumers need a voice, and that voice needs to fight for competition. We have a number of recommendations to do that."
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