What is the CPSIA?

Yes, with a couple of caveats.

In 2007, a string of recalls of children’s toys for lead in paint hit the news.  Lead paint had been illegal since 1978, so these toys violated existing laws.  Although no children were poisoned by the lead in these toys, many people thought that action was needed to prevent recalls like these from ever happening.
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State AGs are not bound by any decisions of CPSC, so they can prosecute you for violating CPSIA even if CPSC has decided to stay enforcement.

Here is a list of materials that you do not have to send to a laboratory in order to prove that they are lead-free.

“Component testing” means testing the components of a product rather than testing an entire finished product.

There are many reasons why a story like CPSIA would not be considered newsworthy or would not be covered adequately.