Dara Tarkowski, chair of the firm’s Tech Innovation, Data & Financial Regulation group, joined the “Breaking Banks” podcast for a discussion on the regulatory landscape in the financial services industry. Tarkowski answered a question the industry is wrestling with right now: Just because federal regulators appear to have stepped back, does that mean the rules have changed?
Her answer is clear: The laws are still on the books, the authority is still there, and regulators can act at any time. State regulators are growing increasingly assertive, the plaintiffs bar is ready to act on behalf of harmed consumers, and insurance companies have little patience for clients who treated grey areas as green space.