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PENNSYLVANIA
Attorney General Launches State Consumer Protection Unit
Amidst a serious push by Republicans in Congress to
restructure—possibly even dismantle—the CFPB, Pennsylvania has
joined other states in doubling down on efforts to protect residents
from financial scams.
Attorney General Josh Shapiro announced in July that he
plans to create a Consumer Financial Protection Unit to offer
Pennsylvania consumers better financial protection. Shapiro
appointed experienced consumer protection attorney Nicholas
Smyth to lead the unit.
According to Shapiro's office, the efforts will focus on lenders
that prey on seniors, families with students, and military service
members, including for-profit colleges and mortgage and student
loan servicers.
"Protecting the public from financial scams is a key priority
of mine, and Nick Smyth will help us expand our capacity to
bring complex cases against financial companies that try to rip off
Pennsylvanians," Shapiro said. "Our Consumer Protection team is
here to fight on behalf of Pennsylvanians and make sure they get
what they paid for and get their money back if they don't."
Smyth brings extensive expertise to his new position as one of
the attorneys who helped found the agency. During his time at
the CFPB, Smyth led investigations of the subprime auto lender
Drivetime, resulting in an $8 million settlement in 2014.
More of Smyth's previous work includes working on CFPB v.
ITT Educational Services, Inc., the CFPB's first enforcement action
against a for-profit college. He also worked on an investigation of
U.S. Bank's MILES Program, a subprime auto finance program for
military service members, which led to $6.5 million in consent orders.
"I am honored to join the Attorney General's terrific consumer
protection team," Smyth said. "e Consumer Protection Bureau
saves Pennsylvania families millions of dollars each year, and I am
excited to contribute to this great work."
