The rules around account closures and denials of banking services are shifting quickly. Earlier this month, President Trump issued an executive order taking aim at what he describes as “politicized or unlawful debanking.” The...more
8/22/2025
/ Banking Sector ,
Banks ,
Compliance ,
Department of Justice (DOJ) ,
Documentation ,
Enforcement Actions ,
Executive Orders ,
Financial Institutions ,
Litigation Strategies ,
Policies and Procedures ,
Recordkeeping Requirements ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
Trump Administration
The CFPB has scaled back some enforcement priorities, and the states have noticed. Certain states – including California, New York, Texas, and Connecticut – are particularly active, pursuing UDAP violations, privacy issues,...more
8/20/2025
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Institutions ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
State Attorneys General ,
State Privacy Laws ,
UDAAP ,
UDAP ,
Unfair or Deceptive Trade Practices
The second quarter of 2025 delivered a noticeable uptick in consumer protection lawsuits targeting banks and other financial institutions. FCRA filings jumped about 12% year-over-year, TCPA cases spiked as much as 39% in...more
8/18/2025
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Consumer Reporting Agencies ,
Debt Collection ,
Debt Collectors ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Financial Institutions ,
Jurisdiction ,
Litigation Strategies ,
Settlement ,
TCPA
The California Court of Appeal, Fourth District, recently issued a much-needed opinion that closed a gap in existing case law regarding duties owed by banks to its depositors. It has long been the rule that banks owe no duty...more