James E. Tierney, the director of Columbia Law School’s National State Attorneys General Program, appeared before Congress in March to advocate for increased state authority over the regulation of banks. The issue is at the center of Cuomo v. Clearing House, which was argued before the Supreme Court in late April.
Tierney testified before the U.S. House of Representatives Subcommittee on Commerce, Trade, and Consumer Protection regarding the roles of state law enforcement officials, including attorneys general, and the Federal Trade Commission in protecting consumers from fraudulent and misleading lending practices. “Consumer fraud in the area of credit has spawned an epidemic with millions of victims,” Tierney said. “And the country needs to remove the restrictions on the ability of states to combat that fraud.”