The CFPB recently released a Report on Actions Taken to Implement Gold Standard Science that addresses steps the CFPB has taken and plans to take to implement the May 2025 Executive Order entitled “Restoring Gold Standard...more
A divided federal appeals court has ruled that President Trump illegally fired Democratic FTC member Rebecca Slaughter and has ordered that she be reinstated to her position....more
9/4/2025
/ Administrative Agencies ,
Appellate Courts ,
Appointments Clause ,
Constitutional Challenges ,
Executive Authority ,
Federal Trade Commission (FTC) ,
Hiring & Firing ,
Judicial Authority ,
Presidential Appointments ,
Removal For-Cause ,
SCOTUS ,
Separation of Powers ,
Trump Administration
Contending that the Biden Administration’s investigation of Credova Financial LLC was an instance of politically motivated debanking, the CFPB is dropping its probe of the company....more
Todd Harper and Tanya Otsuka will not be reinstated to the NCUA board while the District of Columbia Court of Appeals considers whether their firing by the Trump Administration is illegal, a panel of the court has decided....more
A federal judge has dismissed a high-profile case involving allegations that a home appraiser was racially biased in his appraisal.
...more
8/18/2025
/ Appraisal ,
Appraisal Management Companies ,
Dismissals ,
Disparate Impact ,
Disparate Treatment ,
Expert Witness ,
Federal Housing Administration (FHA) ,
Financial Services Industry ,
Housing Discrimination ,
HUD ,
Property Valuation ,
Race Discrimination ,
Real Estate Transactions ,
Summary Judgment
The Trump Administration can, among other things, resume plans to begin firing more than 1,400 employees at the CFPB, two judges on the U.S. Court of Appeals for the District of Columbia ruled last Friday.
In a 2-1...more
The FHFA has directed Fannie Mae and Freddie Mac to prepare proposals for consideration of cryptocurrency as an asset for reserves in their single-family risk assessments, without a conversion to dollars....more
8/15/2025
/ Consumer Financial Products ,
Crypto Exchanges ,
Cryptocurrency ,
Digital Assets ,
Fannie Mae ,
FHFA ,
Financial Services Industry ,
Freddie Mac ,
Mortgages ,
New Guidance ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management
President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more
8/12/2025
/ Adverse Action ,
Banking Regulators ,
Banks ,
Consumer Financial Products ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
OCC ,
Regulatory Reform ,
Reputation Management ,
Risk Management ,
Trump Administration
Federal bank regulators have released a proposal to rescind the Community Reinvestment Act (CRA) final rule that was issued in October 2023....more
The FDIC is proposing to replace its Supervision Appeals Review Committee (SARC) with an independent, standalone office, known as the Office of Supervisory Appeals (OSA). Under the proposal, the OSA would be the final level...more
7/31/2025
/ Appeals ,
Banking Sector ,
Banks ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Government Agencies ,
Independent Boards ,
New Rules ,
Proposed Rules ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Reform ,
Supervision ,
Supervisory Guidance
The reinstatement of two Democratic NCUA board members has been put on hold by the U.S. Circuit Court of Appeals for the District of Columbia....more
7/30/2025
/ Administrative Agencies ,
Appeals ,
Board Members ,
Final Rules ,
Financial Services Industry ,
Government Agencies ,
Injunctions ,
Judicial Authority ,
NCUA ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Authority ,
Removal For-Cause ,
Stays ,
Trump Administration ,
Wrongful Termination
A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more
7/29/2025
/ Banks ,
Consumer Financial Products ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
ECOA ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
Financial Institutions ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgages ,
Redlining ,
Settlement ,
Statutory Violations ,
Trump Administration
The saga of the CFPB’s section 1071 small business data collection and reporting rule continues. Rise Economy, fka California Reinvestment Coalition (Rise), the National Reinvestment Coalition (NCRC), the Main Street Alliance...more
7/28/2025
/ Administrative Procedure Act ,
Arbitrary and Capricious ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Data Management ,
Dodd-Frank ,
ECOA ,
Enforcement ,
Equal Access to Credit ,
Fair Lending ,
Financial Services Industry ,
Lenders ,
LGBTQ ,
Loans ,
Regulatory Agenda ,
Regulatory Requirements ,
Section 1071 ,
Small Business
Two reinstated National Credit Union Administration (NCUA) board members participated in a board meeting on July 24, even as the Supreme Court signaled that three Democratic members of the Consumer Product Safety Commission...more
7/25/2025
/ Administrative Appointments ,
Consumer Product Safety Commission (CPSC) ,
Consumer Protection Laws ,
Government Agencies ,
Judicial Authority ,
NCUA ,
Regulatory Agencies ,
Regulatory Authority ,
Removal For-Cause ,
SCOTUS ,
Stays ,
Trump Administration ,
Trump v Wilcox ,
Wrongful Termination
A Federal Judge has ruled that two NCUA board members were illegally fired by President Trump and has restored their positions on the board. ...more
7/24/2025
/ Administrative Agencies ,
Appeals ,
Constitutional Challenges ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Government Agencies ,
Hiring & Firing ,
NCUA ,
Regulatory Agencies ,
Trump Administration ,
Wrongful Termination
Massachusetts Attorney General Andrea Joy Campbell has reached a $2.5 million settlement with Earnest Operations LLC, a Delaware-based student loan company....more
7/21/2025
/ Algorithms ,
Artificial Intelligence ,
Bias ,
Discriminatory Lending Practices ,
Disparate Impact ,
Enforcement Actions ,
Fair Lending ,
Financial Services Industry ,
Lenders ,
Machine Learning ,
Settlement ,
State Attorneys General ,
Student Loans ,
Unfair or Deceptive Trade Practices
In another case that may not augur well for the CFPB staff, the Supreme Court is allowing the Trump Administration to continue dismantling the Education Department, lifting a court order that had required the rehiring of as...more
7/18/2025
/ Appeals ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Education ,
Employee Rights ,
Employees ,
Employment Litigation ,
Government Agencies ,
Hiring & Firing ,
Judicial Authority ,
McMahon v New York ,
Regulatory Oversight ,
SCOTUS ,
Stays ,
Trump Administration ,
Voluntary Reduction in Force
The huge budget bill signed by President Trump on July 4 does not include a proposal from Senate Banking, Housing and Urban Affairs Committee Republicans to delay implementation of the Section 1071 rule for ten years, but the...more
7/10/2025
/ Deregulation ,
Dodd-Frank ,
Federal Budget ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Lenders ,
LGBTQ ,
Proposed Rules ,
Regulatory Reform ,
Reporting Requirements ,
Section 1071 ,
Small Business ,
Trump Administration
The Department of Housing and Development is seeking information about the impact that the frequent use of Buy Now, Pay Later (BNPL) products may have on borrowers’ ability to meet housing-related expenses, including rent or...more
Having previously announced that it was withdrawing its Buy Now, Pay Later rule, the CFPB recently said that it does not intend to issue a revised rule....more
6/23/2025
/ Administrative Procedure Act ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
New Regulations ,
Regulation Z ,
Rulemaking Process ,
Truth in Lending Act (TILA)
As previously reported, in addressing the fact that current stays of the section 1071 small business data collection and reporting rule only apply to the applicable plaintiffs, intervenors and their members, the CFPB advised...more
6/20/2025
/ Compliance Dates ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Filing Deadlines ,
Final Rules ,
Financial Services Industry ,
Interim Final Rules (IFR) ,
Lenders ,
Mortgage Lenders ,
Reporting Requirements ,
Section 1071 ,
Small Business
As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was...more
6/17/2025
/ Banks ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
Financial Institutions ,
Financial Services Industry ,
Penalties ,
Redlining ,
Settlement Agreements
The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair...more
6/16/2025
/ Banks ,
Consent Order ,
Consumer Financial Products ,
Department of Justice (DOJ) ,
Discriminatory Lending Practices ,
ECOA ,
Enforcement Actions ,
Fair Housing Act (FHA) ,
Financial Institutions ,
Financial Services Industry ,
Lenders ,
Redlining ,
Settlement
As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB...more
6/16/2025
/ Appeals ,
Consent Order ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
ECOA ,
Financial Institutions ,
Financial Services Industry ,
FRCP 60(b) ,
Government Agencies ,
Judicial Authority ,
Mortgages ,
Redlining ,
Regulation B ,
Settlement Agreements
The FTC has recently taken action against two student loan debt relief companies and their owners....more
6/11/2025
/ Consumer Financial Products ,
Consumer Privacy Rights ,
Customer Privacy ,
Debt Collection ,
Debt Relief ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Fraud ,
Settlement ,
Student Loans ,
Telemarketing ,
Unfair or Deceptive Trade Practices