On May 15, 2025, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that rescinded a Biden-era interpretive rule regarding the extent of states’ enforcement authority under Section 1042 of the Consumer Financial Protection Act (CFPA). While states may continue to bring actions to enforce provisions of the CFPA, the new interpretive rule suggests that states may not bring actions arising under any enumerated federal consumer financial laws, such as the Truth in Lending Act or the Equal Credit Opportunity Act. States are nevertheless expected to ramp up enforcement of their own consumer protection statutes to fill the void at the federal level.