News & Analysis as of

Administrative Procedure Act Enforcement Actions Consumer Financial Protection Bureau (CFPB)

Ballard Spahr LLP

CFPB won’t prioritize BNPL enforcement

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The CFPB will not make enforcement of its Buy Now, Pay Later rule a priority, according to a recent statement....more

Holland & Knight LLP

CFPB Seeks Dismissal of Pending UDAAP Examination Manual Litigation

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The CFPB on April 30, 2025, filed a joint stipulation to dismiss its appeal pending before the U.S. Court of Appeals for the Fifth Circuit regarding an agency policy that expands the scope of antidiscrimination oversight....more

Sheppard Mullin Richter & Hampton LLP

CFPB to Revoke Medical Debt Collection Advisory Opinion

On April 11, the CFPB filed a joint motion in the U.S. District Court for the District of Columbia indicating its intent to revoke an advisory opinion on medical debt collection. The Bureau requested a stay of litigation...more

Goodwin

2024 Year in Review: Major US Supreme Court and Appellate Cases

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Welcome to the “Major US Supreme Court and Appellate Cases” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. The Supreme Court continues to take a close look at major administrative law...more

Ballard Spahr LLP

CFPB inaction harming state consumer protection efforts, Democratic AGs allege in amicus brief

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The Trump Administration’s efforts to “effectively shutter the CFPB” amounts to a “total dereliction of all mandatory statutory duties,” that will harm state consumer protection efforts, Democratic state attorneys general...more

Orrick, Herrington & Sutcliffe LLP

District court hears arguments in CFPB case, requires additional evidentiary hearing, records declarations

On March 3, the U.S. District Court for the District of Columbia held a hearing to address the plaintiffs’ motion for a preliminary injunction filed in a case brought by the union representing CFPB employees against CFPB...more

Husch Blackwell LLP

Eastern District of Kentucky Tolls Compliance Deadlines for § 1033 of the Dodd-Frank Act

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On February 25, 2025, Judge Danny C. Reeves of the Eastern District of Kentucky granted a Joint Motion to Stay Proceedings in Forcht Bank, NA et al v. Consumer Financial Protection Bureau et al, temporarily staying litigation...more

Holland & Knight LLP

CFPB Grinds to a Halt: Impacts on Industry

Holland & Knight LLP on

U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more

Orrick, Herrington & Sutcliffe LLP

CFPB Pause: Where From Here?

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On February 8, the Consumer Financial Protection...more

McGlinchey Stafford

CFPB’s Open Banking Rules: Dead on Arrival or Alive and Well?

McGlinchey Stafford on

The Consumer Financial Protection Bureau (CFPB) finalized its long-awaited Personal Financial Data Rights rules under Section 1033 of the Dodd-Frank Act, marking a significant milestone in the regulation of...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

Baltimore government files to challenge the CFPB’s funding decisions, Vought delays budget cuts

On February 12, a complaint was filed in the U.S. District Court for the District of Maryland against the CFPB and its Acting Director, Russell Vought. The plaintiffs — which include the Mayor and City Council of Baltimore,...more

Brownstein Hyatt Farber Schreck

CFPB in the Trump Administration Crosshairs

After weeks of former CFPB Director Rohit Chopra emptying the shelves with dozens of new regulations, proposals and enforcement activity, the financial services industry now faces whiplash as the Trump administration takes...more

Troutman Pepper Locke

Texas Federal Court Orders CFPB to File Status Report Following Leadership Change

Troutman Pepper Locke on

Today, the U.S. District Court for the Northern District of Texas issued an order in Chamber of Commerce of the United States of America v. Consumer Financial Protection Bureau (CFPB or Bureau) in light of recent changes...more

McGlinchey Stafford

CFPB Under Trump: Internal and External Threats Continue to Mount

McGlinchey Stafford on

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

Davis Wright Tremaine LLP

New Administration Outlook: What Does the CFPB "Freeze" Mean for Regulations and Pending Litigation?

Treasury Secretary Scott Bessent, who is currently serving as the acting director of the Consumer Financial Protection Bureau (CFPB), emailed staff on Monday directing employees to cease all rulemaking activities and delay...more

Troutman Pepper Locke

CFPB Files “Emergency Notice” in 1071 Final Rule Case and Does Not Oppose Stay of the 1071 Rule; Agency Also Seeking a “Pause” in...

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Hours before a scheduled hearing yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed an “Emergency Notice” in the U.S. Court of Appeals for the Fifth Circuit with respect to the ongoing litigation...more

Mayer Brown

New Action on No-Action Letters – CFPB Begins Accepting Applications Under Updated No-Action Letter Procedures

Mayer Brown on

The US Consumer Financial Protection Bureau (CFPB) is giving no-action letters (NALs) a second chance. On January 8, 2025, the CFPB issued a policy statement setting forth new procedures for companies to request supervisory...more

Ballard Spahr LLP

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

Ballard Spahr LLP on

A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit Insurance Corporation (FDIC) and Chairman...more

White & Case LLP

Interagency Statement on Role of Supervisory Guidance to Become a Rule

White & Case LLP on

In response to a call for a rulemaking by two leading bank industry trade associations, the federal banking agencies have issued a proposed rule to codify an earlier interagency statement that their supervisory...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Skadden, Arps, Slate, Meagher & Flom LLP

2019-20 Supreme Court Update

The U.S. Supreme Court’s 2019-20 term is receiving substantial attention for cases involving signature initiatives of President Donald Trump’s administration. But the Court also maintains an extensive docket directly relevant...more

Burr & Forman

PHH Wins Stay of $109M CFPB Enforcement Penalty

Burr & Forman on

On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

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