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82 Mont. L. Rev. 1 (2021)

handle is hein.journals/montlr82 and id is 1 raw text is: TRANSCRIPT
COOPERATIVE FEDERALISM IN CONSUMER FINANCE:
REMARKS AT THE JAMES R. BROWNING
SYMPOSIUM ON CONSUMER LAW IN THE 21ST
CENTURY AT ALEXANDER BLEWETT III
SCHOOL OF LAW AT THE UNIVERSITY OF
MONTANA, SEPTEMBER 25, 2020
Richard Cordray*
Thank you for inviting me to the Symposium. I am sorry not to be in
Montana with you, but I have registered my personal complaints about the
pandemic with Professor Cowie, who will, I am sure, take effective action
to address them.
I. INTRODUCTION
My topic today is Cooperative Federalism in Consumer Finance.
That is, in fact, an accurate description of the framework now in place for
consumer financial regulation and enforcement, which builds on the invit-
ing scaffold produced by the Dodd-Frank Act.1 In several respects, that
scaffold has provided a robust role for both federal and state officials-
neither to the exclusion of the others-and we will explore the current state
of that interesting relationship further along our way. But I would also like
to proceed more broadly and schematically, by positioning developments in
* First Director of the Consumer Financial Protection Bureau and former Ohio attorney general.
1. Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, 124 Stat.
1376 (2010) (the portion of the law that concerns consumer financial protection is Title X, which is
known in its own right as the Consumer Financial Protection Act of 2010, is codified at 12 U.S.C.
§§ 5301-5641).

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