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Consumer Financial Protection Bureau (CFPB)

Brownstein Hyatt Farber Schreck

President Expected to Sign Bill to Rein In Mortgage ‘Trigger Leads’

Over the weekend the Senate by voice vote passed H.R. 2808, the House version of the Homebuyers Privacy Protection Act, sending the bill to President Trump for signature. The bill is led by Reps. John Rose (R-TN) and Ritchie...more

Brownstein Hyatt Farber Schreck

New York’s FAIR Business Practices Act—Another State Consumer Protection Domino?

Months after the CFPB—under departing chair Rohit Chopra—released a playbook encouraging states to toughen their consumer protection laws and enforcement, New York has responded, passing the Fostering Affordability and...more

Morgan Lewis

Consumer Finance in the US Automotive Industry

Morgan Lewis on

As the legal environment for consumer financial services continues to shift through 2025, regulatory activity in the automotive sector has emerged as a fast-evolving area of focus for industry stakeholders. Recent...more

Spilman Thomas & Battle, PLLC

The Health Record - Healthcare Law Insights, V 2, Issue 8, July 2025

Welcome to our eighth issue of 2025 of The Health Record -- our healthcare law insights e-newsletter. In this edition, we look at the rural health "slush fund" included in the Federal budget bill, the effect of Medicaid...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – August 2025

Troutman Pepper Locke on

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

Ballard Spahr LLP

Reversing course, CFPB says it will issue revised open banking rule

Ballard Spahr LLP on

In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule....more

Jones Day

With New Action Plan, White House Launches AI "Space Race"—What Banks Should Know

Jones Day on

The White House has issued an AI Action Plan that aims to position the United States as the leader in artificial intelligence ("AI"), as part of a broader pattern of boosting innovation and reducing regulatory burden, with...more

Orrick, Herrington & Sutcliffe LLP

CFPB scraps rule allowing states to enforce the CFPA without notice

On July 21, the CFPB published a notice in the Federal Register withdrawing its direct final rule that would have rescinded procedures requiring state officials to notify the Bureau when taking action to enforce the CFPA. As...more

Orrick, Herrington & Sutcliffe LLP

CFPB terminates its consent order with a credit union

On July 18, the CFPB terminated a consent order against a credit union after confirming that the credit union fulfilled “certain obligations” under the original consent order, including paying a $1.5 million civil money...more

Orrick, Herrington & Sutcliffe LLP

CFPB signals it will revisit its open banking rule following court stay

On July 29, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay proceedings in a case challenging the Bureau’s Section 1033 rule after the Bureau signaled its plans to “engage in an...more

Orrick, Herrington & Sutcliffe LLP

CFPB brought to court again over its 1071 rule implementation

On July 23, several plaintiffs filed a complaint against the CFPB in the U.S. District Court for the District of Columbia alleging the CFPB and its acting director violated federal law by delaying implementation and...more

McGlinchey Stafford

CFPB to Reopen 1033 Open Banking Rulemaking

McGlinchey Stafford on

The Consumer Financial Protection Bureau’s (CFPB) open banking rules, issued under Section 1033 of the Dodd-Frank Act, have been the subject of ongoing litigation since their finalization late last year. The litigation is...more

Cozen O'Connor

MA AG Issues Updated Guidance Ahead of “Junk Fee” Compliance Deadline

Cozen O'Connor on

Massachusetts AG Andrea Joy Campbell has released updated compliance guidance, including a new webinar, to help businesses comply with the state’s new consumer protection regulations targeting so-called “junk fees.”...more

Sheppard Mullin Richter & Hampton LLP

In a Surprising Switch, CFPB Now Seeks to Rewrite Open Banking Rule

On July 29, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s request to stay litigation challenging its open banking rule. The rule (previously discussed here) aimed to establish industry-wide...more

Sheppard Mullin Richter & Hampton LLP

Consumer Groups Sue CFPB Over Delay in Section 1071

On July 23, a coalition of consumer advocacy organizations filed a lawsuit against the CFPB and Acting Director Russel Vought in the U.S. District Court for the District of Columbia, alleging the agency unlawfully delayed...more

Cooley LLP

Rhode Island Enacts New Financial Institutions Cybersecurity Law With Immediate Effect

Cooley LLP on

As the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) scale back rulemaking and enforcement, states are advancing more prescriptive cybersecurity standards for financial institutions, including...more

Hudson Cook, LLP

Consumer Financial Services Bites of the Month - July 2025 #2

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the July 2025 webinar....more

Troutman Pepper Locke

CFPB Section 1033 Open Banking Rule Stayed as CFPB Initiates New Rulemaking

Troutman Pepper Locke on

In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more

Venable LLP

Compliance as a Competitive Advantage

Venable LLP on

Recently, we presented on Compliance as a Competitive Advantage at Compliance University by Online Lenders Alliance. We shared a perspective we've developed over 20 years of working with financial services companies: that...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025 # 5

Troutman Pepper Locke on

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

Goodwin

CFPB Abandons Plan to Scrap State Notice Rule

Goodwin on

On July 21, 2025, the CFPB announced that it was withdrawing its planned recission of Section 1082.1 of the Consumer Financial Protection Act (CFPA) implementing regulations, which contains procedures by which state officials...more

Mayer Brown

What the New Remittance Transfer Excise Tax Means for Businesses

Mayer Brown on

OVERVIEW OF THE REMITTANCE TRANSFER EXCISE TAX - Do you effect transfers of funds for US residents to recipients abroad? If so, you should review the provision of the “One Big Beautiful Bill Act” (“OBBBA”) that imposes a...more

Ballard Spahr LLP

Community Groups File Lawsuit Seeking to Force CFPB to Implement the Section 1071 Rule

Ballard Spahr LLP on

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

Goodwin

CFPB Terminates Consent Order Against Credit Union

Goodwin on

On July 21, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had terminated its October 2024 consent order with a Florida-based credit union....more

Fox Rothschild LLP

Court Vacates CFPB Medical Debt Rule: Key Takeaways for Providers

Fox Rothschild LLP on

Earlier this month, the United States District Court for the Eastern District of Texas approved a consent judgment vacating the Consumer Financial Protection Bureau’s (CFPB) Medical Debt Rule. The decision holds that the CFPB...more

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