In a lengthy decision that highlighted the CFPB’s very public efforts to dismantle the CFPB from within, the District Court for the District of Columbia granted a motion for preliminary injunction designed to preserve the...more
4/2/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Regulatory Reform ,
Mortgages ,
Overdraft Fees ,
Payday Loans ,
Popular ,
Preliminary Injunctions ,
Regulatory Reform ,
Trump Administration
As we discussed previously, the Consumer Financial Protection Bureau (CFPB) is facing a threat to its very existence, and this time, the call is coming from inside the house. After Acting Director Russ Vought and the...more
The District of Maryland rejected a plaintiff’s arguments that a debt collector’s verification of a debt in response to a letter refusing to pay, but disputing the debt, violated the cease communication directive under the...more
With an across-the-board freeze on all rulemaking, enforcement, and supervisory activities, and a potential mass lay-off in the works, the CFPB continues to make news. Here’s a recap of all that happened this past week at the...more
As we have highlighted previously (here and here), the Consumer Financial Protection Bureau (CFPB) has continued to undergo significant changes under the second Trump Administration. However, various interested parties have...more
2/19/2025
/ Congressional Review Act ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Enforcement Actions ,
Executive Orders ,
Federal Vacancies Reform Act ,
Financial Regulatory Reform ,
Overdraft Fees ,
Regulatory Reform ,
Rulemaking Process ,
Trump Administration
In a procedural decision, the U.S. Court of Appeals for the Fifth Circuit vacated the CARS Rule (officially, the Combatting Auto Retail Scams Trade Regulation Rule, sometimes known as the Vehicle Shopping Rule) which was...more
2/17/2025
/ CARS Rule ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Disclosure Requirements ,
Dodd-Frank ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Informed Consent ,
Rulemaking Process ,
State Attorneys General ,
Unfair or Deceptive Trade Practices
As we highlighted on Monday, the Consumer Financial Protection Bureau (CFPB) is currently facing an existential crisis as the Trump Administration and DOGE work to dismantle large parts of the consumer watchdog. Here’s what...more
2/17/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Employees ,
Enforcement Actions ,
Executive Appointments ,
Financial Institutions ,
Financial Regulatory Reform ,
Government Agencies ,
Presidential Nominations ,
Regulatory Oversight ,
Regulatory Reform ,
Termination ,
Trump Administration
A new acting director. Freezes on any rulemaking, enforcement, or supervisory activities. Attempts to dismantle the department from within. In the span of a short forty-eight hours, the CFPB has faced possibly the greatest...more
2/10/2025
/ Administrative Procedure Act ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Elon Musk ,
Enforcement Actions ,
Executive Orders ,
Federal Budget ,
Federal Funding ,
Financial Regulatory Reform ,
Government Agencies ,
Legislative Agendas ,
Regulatory Agenda ,
Regulatory Reform ,
Trump Administration
As expected, the Trump administration formally terminated CFPB director Rohit Chopra over the weekend. And also as expected, President Trump used the Federal Vacancies Reform Act to appoint an acting CFPB Director—Treasury...more
2/4/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Executive Orders ,
Final Rules ,
Financial Regulatory Reform ,
Hedge Funds ,
Regulatory Agenda ,
Regulatory Freeze ,
Rulemaking Process ,
Trump Administration ,
U.S. Treasury
With President-elect Donald Trump’s election victory and upcoming inauguration, big changes appear likely for the Consumer Financial Protection Bureau in 2025. As the bureau faces its third major leadership transition within...more
Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business....more
1/3/2025
/ Appellate Courts ,
Billing Errors ,
CARD Act ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Cards ,
Credit Reporting Agencies ,
Credit Reports ,
Debt Collection ,
Do Not Call List ,
Fair Credit Reporting Act (FCRA) ,
FDCPA ,
Fee Caps ,
Financial Services Industry ,
Foreclosure ,
Jurisdiction ,
Late Fees ,
New York ,
Pro Se Litigants ,
Retroactive Application ,
Statute of Limitations ,
TCPA ,
Time-Barred Claims
Yesterday, the Federal Trade Commission (FTC) finalized its “Rule on Unfair or Deceptive Fees” (Junk Fees Rule) designed, the FTC noted, to prohibit bait-and-switch pricing and mandate clear and conspicuous price disclosures...more
12/19/2024
/ Advertising ,
Biden Administration ,
Carve Out Provisions ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Event Tickets ,
Excessive Fees ,
Federal Trade Commission (FTC) ,
Fees ,
Financial Services Industry ,
Hidden Fees
On December 6, 2024, the United States District Court for the Northern District of Texas denied a motion by the Consumer Financial Protection Bureau (CFPB) to dissolve a preliminary injunction that had enjoined its Credit...more
Former President Donald Trump emphatically won a second term in office, and with his election, sweeping changes appear in store for the Consumer Financial Protection Bureau (CFPB or Bureau). While President-elect Trump did...more
On July 10, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) proposed a rule it says will streamline mortgage servicing and the loss mitigation process. If enacted, the proposed rule would significantly revise...more
On June 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a Circular warning companies that the inclusion of “unlawful” or “unenforceable” terms in a form contract constitutes a deceptive act or practice in...more
This is the second part of a two-part series on Consumer Financial Protection Bureau v. Community Financial Services Association of America. Read part one here. In what should not come as a surprise to anyone who observed...more
On May 7, 2024, the United States District Court for the District of New Jersey issued a decision holding that the use by a debt collector of the Model Form validation notice under Regulation F does not guarantee compliance...more
On April 24, 2024, the Consumer Financial Protection Bureau (CFPB) released the latest edition of its Supervisory Highlights, this time targeting so-called “junk fees” in the mortgage servicing industry. According to the...more
On March 8, 2024, the Consumer Financial Protection Bureau (CFPB) announced it was seeking public input on so-called “junk fees” incurred as part of the closing process for residential mortgage loans. The residential...more
Tuesday, the Consumer Financial Protection Bureau (CFPB) issued a Final Rule capping most credit card late fees at $8. The CFPB believes its new rule may save consumers more than $10 billion a year in late fee charges for an...more
On Wednesday, January 17, 2024, the Supreme Court heard oral arguments in Loper Bright Enterprises, Inc. v. Raimondo and Relentless, Inc. v. Dep’t of Commerce, a pair of cases where a majority of the Justices made clear that...more
On January 2, 2024, the Consumer Financial Protection Bureau (CFPB) filed an amicus brief in the case of Carrasquillo v. CICA Collection Agency, Inc. where it argued that knowledge (i.e. “scienter”) of a violation of the Fair...more
For almost two years, the Consumer Financial Protection Bureau (CFPB) has made combating so-called junk fees an agency priority, bringing multiple enforcement actions, undertaking supervisory activity, and collaborating with...more
On October 3, the U.S. Supreme Court heard oral arguments in the Consumer Financial Protection Bureau v. Community Financial Services Association of America, the latest in a long line of cases targeting the constitutionality...more
10/26/2023
/ Administrative Agencies ,
Administrative Authority ,
Constitutional Challenges ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Financial Protection Bureau v Community Financial Services Association of America Ltd ,
Dodd-Frank ,
Federal Funding ,
Financial Services Industry ,
Oral Argument ,
Payday Lending Rule ,
Regulatory Agencies ,
SCOTUS