The agency that protects consumers just removed a rule that let states report enforcement actions

The Consumer Financial Protection Bureau is withdrawing a rule that would have removed the requirement for state officials to notify the Bureau when they take action to enforce consumer protection laws. This means state officials will still have to tell the federal agency when they act against companies that break consumer finance rules.

The Consumer Financial Protection Bureau (CFPB) was created after the 2008 financial crisis to protect consumers. Its power comes from its ability to coordinate enforcement actions across states and the federal government. This rule change means the CFPB will continue to have visibility into state-level enforcement, which helps it identify widespread problems and coordinate larger actions. Without this notification, the CFPB would have less data on consumer protection issues and a harder time acting effectively.