States Target Consumer Issues as Federal Oversight Eases

WASHINGTON—States such as Pennsylvania and Virginia are targeting student-loan servicing, payday lending and other financial services, areas where federal consumer regulators are easing oversight under Trump-appointed leadership.

Pennsylvania Attorney General Josh Shapiro set up a consumer financial protection division within his office last year. He hired a former Consumer Financial Protection Bureau enforcement attorney to lead the group, sued student loan servicing company Navient Corp.NAVI 1.42% , and now is investigating several Philadelphia financial institutions suspected of racial discrimination in mortgage lending.

“If the CFPB is not going to pursue these kinds of cases, I am willing to go at it alone,” Mr. Shapiro said.


Read more via Wall Street Journal. Originally published on April 5, 2018.