State attorneys general have become significant players in the financial world, using a number of special investigative and enforcement tools to investigate and prosecute alleged wrongdoing by financial market participants. Coordinated and multistate action by state attorneys general, which have increased in recent years, is likely to continue, particularly in the consumer protection space. And, financial market participants should expect ongoing federal and state coordination under the new Biden administration, particularly as the states and federal consumer protection agencies like the CFPB and FTC take a revitalized view towards business oversight and enforcement.

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