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Ballard Spahr LLP

CFPB rescinds 67 guidance documents

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Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents  issued since the bureau began operating in 2011....more

Troutman Pepper Locke

UDAAP and Fair Lending Developments: 2024 Year-in-Review and 2025 Predictions — The Consumer Finance Podcast

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In this third episode of the Year in Review series of The Consumer Finance Podcast, host Chris Willis is joined by Lori Sommerfield, a partner in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: The Impact of the Election on the CFPB: What to Expect with Supervision and Enforcement...

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Our podcast show today features John Culhane and Mike Kilgarriff, partners in Ballard Spahr’s Consumer Financial Services group. They discuss what supervision and enforcement will look like under a new acting...more

Troutman Pepper Locke

Trump Administration Expected to Roll Back Biden-Era UDAP Rules

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UDAP has been controversial in the US in the past couple of years. Now that we have a new president and a new Congress, the use of UDAP may change....more

White & Case LLP

Consumer financial services: The road ahead: CFPB structural changes

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During his tenure, former CFPB Acting Director Mick Mulvaney brought significant changes to the Bureau’s structure and operations. As the new CFPB Director, Kathy Kraninger will have the benefit of a full five-year term to...more

Ballard Spahr LLP

Regulation by Enforcement Is Dead: CFPB Chief

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Addressing the Mortgage Bankers Association (MBA) 2018 Annual Convention in Washington, D.C., on October 15, 2018, CFPB Acting Director Mick Mulvaney advised that regulation by enforcement is dead, and that he does not care...more

Davis Wright Tremaine LLP

Rumors of UDAAP’s Demise May be Exaggerated

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New Priorities at the CFPB… On February 12, 2018, Acting Director of the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) and Director of the Office of Management and Budget (“OMB”), Mick Mulvaney, released...more

Ballard Spahr LLP

CFPB changes direction in enforcement action; Mulvaney names senior advisor

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A new filing by the CFPB in its action against Nationwide Biweekly Administration Inc. may be an indicator of the enforcement philosophy of Mick Mulvaney, President Trump’s designee as CFPB Acting Director, and how that...more

Ballard Spahr LLP

Treasury report on U.S. financial system recommends significant CFPB reforms

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The report issued earlier this week by the U.S. Treasury Department to President Trump in response to his February 2017 Executive Order 13772, “A Financial System That Creates Economic Opportunities-Banks and Credit Unions,”...more

Ballard Spahr LLP

Innovation versus consumer protection: emerging battle lines

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The announcement by the Office of Comptroller of Currency that it will allow financial technology (fintech) companies to apply for national bank charters as way of fostering “responsible innovation” has already drawn fire...more

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