The Department of Justice has filed its opposition brief in Leandra English’s appeal of the district court’s denial of her preliminary injunction motion in her action seeking a declaration that she is the lawful Acting CFPB...more
The CFPB has issued a request for information that seeks comment on its public and non-public external engagements, including field hearings, town halls, roundtables, and meetings of the CFPB’s advisory groups. ...more
A group of Democratic Senators and House members have sent a letter to Mick Mulvaney and Leandra English expressing concern about Mr. Mulvaney’s announcement that he plans to reorganize the CFPB’s Office of Fair Lending...more
The CFPB’s newly-released strategic plan for fiscal years 2018-2022 reflects the restrained approach to the CFPB’s exercise of its authority previously outlined by Mick Mulvaney, President Trump’s designee as CFPB Acting...more
Earlier this week, Mick Mulvaney, President Trump’s designee as CFPB Acting Director, announced that he has appointed Kirsten Sutton Mork as CFPB Chief of Staff....more
Five amicus briefs have been filed in the U.S. Court of Appeals for the D.C. Circuit in support of Leandra English. Ms. English has appealed the district court’s denial of her preliminary injunction motion in her action...more
2/9/2018
/ Administrative Agencies ,
Administrative Appointments ,
Amicus Briefs ,
Appeals ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Federal Vacancies Reform Act ,
Preliminary Injunctions ,
Presidential Appointments ,
Trump Administration
The U.S. Court of Appeals for the D.C. Circuit is scheduled to hear oral argument on April 12, 2018 in Leandra English’s appeal of the district court’s denial of her preliminary injunction motion in her action seeking a...more
The U.S. District Court for the Southern District of New York has dismissed for lack of Article III standing the lawsuit filed by a credit union challenging President Trump’s appointment of Mick Mulvaney as CFPB Acting...more
2/6/2018
/ Administrative Agencies ,
Administrative Appointments ,
Article III ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Federal Vacancies Reform Act ,
Financial Services Industry ,
HMDA ,
Motion to Dismiss ,
Oral Argument ,
Preliminary Injunctions ,
Presidential Appointments ,
Standing ,
Trump Administration
The following bills were passed by the House earlier this week:
The “Making Online Banking Initiation Legal and Easy (MOBILE) Act, H.R. 1457. Passed by a vote of 397-8, the MOBILE Act would allow a bank to scan and retain...more
2/1/2018
/ Banking Sector ,
Consumer Financial Products ,
Consumer Lenders ,
Federal Savings Associations ,
Financial Regulatory Reform ,
National Bank Charters ,
Online Marketplace Lending ,
Payday Loans ,
Preemption ,
Proposed Legislation ,
Self-Identification
On January 30, 2018 at 10 a.m., the Financial Institutions and Consumer Credit Subcommittee of the House Financial Services Committee will hold a hearing, “Examining Opportunities and Challenges in the Financial Technology...more
Mick Mulvaney, President Trump’s appointee as CFPB Acting Director, plans to make the CFPB’s practices of “pushing the envelope” and “rulemaking by enforcement” things of the past. ...more
1/25/2018
/ Automotive Loans ,
Banking Sector ,
CFPB Bulletins ,
Civil Investigation Demand ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Dodd-Frank ,
ECOA ,
Enforcement Actions ,
Financial Regulatory Reform ,
Regulatory Agenda ,
Regulatory Burden ,
Regulatory Oversight ,
Rulemaking Process
The DOJ has filed a response to the emergency motion filed by Leandra English with the U.S. Court of Appeals for the D. C. Circuit requesting expedited briefing and oral argument in her appeal from the district court’s denial...more
Mick Mulvaney, President Trump’s appointee as CFPB Acting Director, has sent a letter to Fed Chair Janet Yellen “to inform [her] that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0.” (emphasis...more
The CFPB announced that, in coming weeks, it plans to publish in the Federal Register a series of Requests for Information (RFIs) seeking comment on its enforcement, supervisory, rulemaking, market monitoring, and educational...more
Leandra English has filed an emergency motion with the U.S. Court of Appeals for the D. C. Circuit requesting expedited briefing and oral argument in her appeal from the district court’s denial of her preliminary injunction...more
1/18/2018
/ Administrative Agencies ,
Administrative Appointments ,
Appeals ,
Appointments Clause ,
Banking Sector ,
Briefing Schedule ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Expedited Actions Process ,
Federal Vacancies Reform Act ,
Oral Argument ,
Preliminary Injunctions ,
Presidential Appointments ,
Trump Administration
The CFPB has published a final rule in the Federal Register to adjust for inflation the civil penalties within its jurisdiction. The adjustments are required by the Federal Civil Penalties Inflation Adjustment Act of 1990...more
In a letter to Leandra English and Mick Mulvaney, Senator Elizabeth Warren calls the freeze imposed by Mr. Mulvaney on the CFPB’s collection of personally identifiable information (PII) “unjustified.” (Not surprisingly,...more
In a press release issued by the House Financial Services Committee, Committee Chairman Jeb Hensarling announced that Kirsten Mork, the Committee’s Staff Director, has been named CFPB Chief of Staff. Mr. Hensarling was a...more
The CFPB has submitted its Fall 2017 rulemaking agenda to the Fall 2017 Unified Agenda of Federal Regulatory and Deregulatory Actions issued by the Office of Information and Regulatory Affairs, a part of the Office of...more
In notices published in today’s Federal Register, the CFPB adjusted the thresholds of the asset-size exemptions for collecting HMDA data and establishing an escrow account for certain mortgage loans under TILA....more
12/27/2017
/ Banking Sector ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
HMDA ,
Mortgage Escrow Account ,
Mortgages ,
Regulation C ,
Regulation Z ,
Regulatory Standards ,
Threshold Requirements ,
Truth in Lending Act (TILA)
According to media reports, Mick Mulvaney, President Trump’s designee as CFPB Acting Director, has told CFPB staff that he plans to add six new staff members who currently work in the Trump administration. The new staff...more
Leandra English filed a response to the DOJ’s opposition to her motion for a preliminary injunction in her action seeking a declaration that she, rather than Mick Mulvaney, has the legal right to serve as CFPB Acting...more
12/22/2017
/ Administrative Agencies ,
Administrative Appointments ,
Appointments Clause ,
Banking Sector ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Federal Vacancies Reform Act ,
Preliminary Injunctions ,
Presidential Appointments ,
TRO ,
Trump Administration
Three amicus briefs have been filed in support of President Trump and Mick Mulvaney, who are opposing the motion for a preliminary injunction filed by Leandra English in her action in D.C. federal district court seeking a...more
12/21/2017
/ Administrative Agencies ,
Administrative Appointments ,
Amicus Briefs ,
Banking Sector ,
Chamber of Commerce ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Federal Vacancies Reform Act ,
Pending Litigation ,
Presidential Appointments ,
TRO ,
Trump Administration
The CFPB’s Ombudsman’s Office has issued its sixth annual report covering the Office’s activities during fiscal year 2017 (October 1, 2016 through September 30, 2017). The role of the Ombudsman’s Office is to assist in the...more
A New York federal district court has dismissed the lawsuit filed by the New York Department of Financial Services (DFS) challenging the OCC’s authority to grant special purpose national bank (SPNB) charters to nondepository...more
12/14/2017
/ Article III ,
Banking Sector ,
CSBS ,
Dismissals ,
Financial Services Industry ,
FinTech ,
National Bank Charters ,
NYDFS ,
OCC ,
Popular ,
Regulatory Oversight ,
Special Purpose National Bank Charter ,
Standing ,
Technology Sector