The United States is navigating a new era of regulatory oversight and the balance of power between federal and state regulators following the 2024 election cycle. As federal agencies retreat from and/or realign their...more
7/28/2025
/ Advertising ,
Antitrust Violations ,
Artificial Intelligence ,
Consumer Financial Products ,
Corporate Counsel ,
Data Privacy ,
Enforcement Actions ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Gaming ,
Life Sciences ,
Machine Learning ,
Marketing ,
Merger Controls ,
Most-Favored Nations ,
New Legislation ,
Regulatory Reform ,
State Attorneys General
On July 14, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2025-16, announcing the removal of references to disparate impact liability from the “Fair Lending” booklet of the Comptroller’s Handbook and...more
7/16/2025
/ Anti-Discrimination Policies ,
Banks ,
Borrowers ,
Consumer Financial Products ,
Deregulation ,
Discriminatory Lending Practices ,
Disparate Impact ,
Equal Access to Credit ,
Executive Orders ,
Fair Lending ,
Financial Regulatory Reform ,
Financial Services Industry ,
Handbooks ,
Lenders ,
OCC ,
Regulatory Authority ,
Regulatory Requirements ,
Trump Administration
New York City Comptroller Brad Lander released a report titled “Standing Up for New York Consumers – How New York State and New York City can Strengthen Consumer Financial Protection in the Trump Era,” which called for the...more
7/7/2025
/ Banking Sector ,
Comptroller ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Financial Regulatory Reform ,
Financial Services Industry ,
New York ,
Non-Bank Lenders ,
Proposed Legislation ,
Regulatory Reform ,
State and Local Government ,
Trump Administration
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final...more
6/17/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Enforcement Actions ,
Financial Services Industry ,
First Amendment ,
Judicial Authority ,
Mortgage Lenders ,
Redlining ,
Regulation B ,
Settlement ,
Trump Administration ,
Vacated
Indiana and Maryland became the most recent states to enact legislation regulating earned wage access (EWA) services, with Indiana passing House Enrolled Act 1125 on May 6, and Maryland passing House Bill 1294 on May 20....more
President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of...more
4/25/2025
/ Civil Rights Act ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Deregulation ,
Disparate Impact ,
Employment Discrimination ,
Equal Employment Opportunity Commission (EEOC) ,
Executive Orders ,
Financial Services Industry ,
Labor Reform ,
Popular ,
Title VII ,
Trump Administration
In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more
3/28/2025
/ Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Discriminatory Lending Practices ,
ECOA ,
Enforcement Actions ,
Financial Institutions ,
Financial Services Industry ,
First Amendment ,
Redlining ,
Regulatory Reform ,
Settlement Agreements ,
Stipulated Judgment ,
Trump Administration ,
Vacated
In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more
3/28/2025
/ Banks ,
Consumer Financial Products ,
ECOA ,
Equal Access to Credit ,
Fair Housing Act (FHA) ,
Fannie Mae ,
FHFA ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Freddie Mac ,
GSE ,
Housing Market ,
HUD ,
Lenders ,
Mortgages ,
Regulatory Reform ,
Regulatory Requirements ,
Trump Administration
On March 7, Arizona Attorney General (AG) Kristin Mayes filed a novel lawsuit alleging consumer fraud and racketeering against numerous entities, individuals, and even law firms and title companies involved in the residential...more
3/27/2025
/ Consumer Bankruptcy ,
Consumer Fraud ,
Enforcement Actions ,
Financial Services Industry ,
Foreclosure ,
Fraud ,
Homeowners ,
Mortgages ,
Professional Misconduct ,
Purchase Agreement ,
Racketeering ,
Residential Real Estate Contracts ,
State Attorneys General ,
Title Companies ,
Underwater Homeowners ,
Unfair or Deceptive Trade Practices
On March 11, New Jersey Attorney General (AG) Matthew Platkin and the New Jersey Division on Civil Rights (DCR) announced that DCR issued a finding of probable cause against Advance Funding Partners/Same Day Funding (Advance...more
3/17/2025
/ Consumer Financial Products ,
Consumer Lenders ,
Discriminatory Lending Practices ,
Employment Discrimination ,
Enforcement Actions ,
Equal Protection ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Hostile Environment ,
Loan Applications ,
New Jersey ,
Probable Cause ,
Race Discrimination ,
Regulatory Violations ,
Retaliation ,
State Attorneys General ,
Whistleblowers
In this special joint edition of the Consumer Finance Podcast and the Regulatory Oversight Podcast, host Chris Willis is joined by colleagues Stephen Piepgrass, James Kim, Jesse Silverman, and Lane Page to discuss the ongoing...more
In this special joint edition of the Consumer Finance Podcast and the Regulatory Oversight Podcast, host Chris Willis is joined by colleagues Stephen Piepgrass, James Kim, Jesse Silverman, and Lane Page to discuss the ongoing...more
Given the future uncertainty of the Consumer Financial Protection Bureau’s (CFPB) efforts to regulate bank overdraft fees, New York’s Department of Financial Services (DFS) has stepped in to fill a perceived gap. The DFS...more
2/7/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Financial Services Industry ,
New York ,
NYDFS ,
Overdraft Fees ,
Proposed Rules ,
Regulatory Agenda ,
Unfair or Deceptive Trade Practices
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more
1/22/2025
/ Artificial Intelligence ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Scores ,
Data Privacy ,
Data Protection ,
Discriminatory Lending Practices ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Machine Learning ,
Regulatory Requirements ,
Risk Management
In the sixth episode of our 12 Days of Regulatory Insights podcast series, Lane Page is joined by Mike Yaghi, a partner in the firm's Regulatory Investigations, Strategy + Enforcement (RISE) practice, and Chris Willis,...more
On October 29, New Jersey Attorney General Matthew Platkin and the state’s Division on Civil Rights (DCR) released a report detailing the findings of a multi-year investigation into Republic First Bank (Republic) and its...more
11/1/2024
/ Banks ,
Consumer Financial Products ,
Discriminatory Lending Practices ,
Enforcement Actions ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgages ,
Race Discrimination ,
Real Estate Transactions ,
Redlining
On September 17, the Consumer Financial Protection Bureau (CFPB or Bureau) published Circular 2024-05 (Circular) addressing whether a financial institution violates the Electronic Fund Transfer Act (EFTA) and Regulation E by...more
9/19/2024
/ ATMs ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Electronic Fund Transfer Act ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Opt-In ,
Overdraft Fees ,
Overdraft Rule ,
Popular ,
Regulation E
On May 30, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a request for information (Request) regarding alleged “junk fees” in closing costs charged by mortgage lenders and related settlement service...more
6/4/2024
/ Closing Costs ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Fees ,
Financial Regulatory Reform ,
Financial Services Industry ,
Loans ,
Mortgage Lenders ,
Mortgages ,
Public Comment ,
Real Estate Transactions ,
Request For Information