Davis Polk partner Eric McLaughlin was quoted in IFLR discussing how regulatory policy might change under the Trump administration.

While many regulators are set to come under a general deregulatory thrust, Eric thinks that in the Consumer Financial Protection Bureau’s (CFPB) case, it might not be as much as others. “I think while it’s fair to think that CFPB enforcement will not be as aggressive under a Trump administration, and probably not as much rule making by enforcement, I don’t know that you necessarily can expect a full letting-up on, for example, the pressure on fees and stuff like that,” he said. “That’s something that I think one can imagine that there still may be focus on under a Trump-led CFPB.”

Eric also noted that now is the time for clients to start planning about how they will get their agenda in front of lawmakers and regulators as soon as the new administration comes into government. He said, “Folks should really be thinking about these areas where things might change and what actions they might want to take in response. For example, it’s time for banks that are interested in engaging in M&A activity to start thinking about that and making plans.”

“Lawyers advise clients to prepare now for US regulatory changeover,” IFLR (November 11, 2024) (subscription required)

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