© 2026 Arizent. All rights reserved.
For reprint and licensing requests for this article, click here.
Schwartz advises clients on convertible 144A offerings, as well as private investments in public and private companies.
The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.
The Trump administration is seeking to fire roughly 90% of the Consumer Financial Protection Bureau's staff and is fighting for that right in court. But if the administration prevails, can other consumer protection authorities from other federal regulators pick up the slack?
Among the resignations are Mark McArdle, who was instrumental in creating the Qualified Mortgage rule, and Operations Chief of Supervision David Bleicken. It is unclear if the Consumer Financial Protection Bureau will hire anyone to succeed them.
Executives at the Toronto-based bank said last year that they planned to add 150 branches in the United States. But when pressed on Thursday, they could not say how much they'll scale back their ambitions due to investigations over TD's anti-money laundering practices.
