In recent years, banks, mortgage companies and lenders have served as targets for the Consumer Finance Protection Bureau. The bureau actively promulgated multiple rules, reinterpreted case law and revised regulations to force these institutions to change their behavior and structures. More recently, the CFPB has also targeted other segments of the financial industry, ranging from auto dealerships to student loans and the list keeps growing.
While the CFPB has publicly taken stands against these financial institutions, one of the most common targets of the bureau has largely not received the media attention it likely deserves: lawyers. Indeed, the bureau has filed six lawsuits against lawyers.
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