On October 16 of last year, I reported that Eric Halperin, Enforcement Director of the CFPB, announced that the CFPB intended to substantially increase the number of enforcement staff by 50% and to create a 5th litigation team. He explained:

“These additional resources will enable us to open more investigations, including matters with significant market impact and against large market actors, consistent with the Bureau’s priorities. We also will be in a better position to meet resource demands from our increasing number of matters in contested litigation.”

I don’t know how many new enforcement attorneys and staff already have been hired. However, the CFPB recently announced through a LinkedIn post that it will be holding a virtual meeting on January 23, 2024 for all prospective applicants:

“Join our Enforcement team as we discuss available career opportunities—current and upcoming—as the CFPB works to expand our enforcement capacity. Come and hear from current CFPB Enforcers; sessions will include Q&A.”

As I stated in my earlier blog, this is very ominous for banks and other companies subject to the CFPB’s enforcement or supervisory jurisdiction.

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