News & Analysis as of

Allocation of Funds Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

CFPB proposes to eliminate ability to allocate civil money penalties to fund financial literacy programs

On June 18, the CFPB published a proposed rule in the Federal Register amending its 2013 rule implementing the CFPA provision establishing the Consumer Financial Civil Penalty Fund. The proposed rule rescinds aspects of the...more

Ballard Spahr LLP

Federal district court denies state AGs’ request to redirect unused CFPB settlement funds to NAAG

Ballard Spahr LLP on

We previously reported that the Connecticut Attorney General, on behalf of himself and the Attorneys General of Indiana, Kansas and Vermont (the “state AGs”), had filed a joint motion to intervene in a CFPB enforcement action...more

Ballard Spahr LLP

CFPB issues third appropriations report

Ballard Spahr LLP on

The CFPB has issued its third report entitled “Report of the Consumer Financial Protection Bureau Pursuant to Section 1017(e)(4) of the Dodd-Frank Act.” That Dodd-Frank section requires the CFPB’s Director to submit an annual...more

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