Bank Director Quotes Cliff Stanford on CFPB Enforcement Rollback

Cliff Stanford, chair of Alston & Bird’s Financial Services Group, was quoted in a Bank Director article, “The Dismantling of Banking’s Consumer Watchdog” (subscription required), discussing the Trump Administration’s scaling back of the Consumer Financial Protection Bureau’s regulatory and enforcement activity. Cliff noted that banks should remain prepared for future regulatory shifts, saying, “The pendulum swings—it can swing back in your face if you’re not ready for that.” He also said that a strong compliance culture is good for business.