News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Department of Justice (DOJ) Financial Institutions

Morgan Lewis

Financial Institutions Face Investigations and Possible Referral to DOJ Based on Past ‘Debanking’ Practices

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An executive order signed by the US president on August 7, 2025, titled Guaranteeing Fair Banking for All Americans, seeks to prohibit financial institutions from engaging in “debanking” practices, such as denying services or...more

Cooley LLP

CFPB Announces Plan to Review Offenses Carrying Criminal Penalties

Cooley LLP on

On June 27, the Consumer Financial Protection Bureau (CFPB) issued a policy statement, “Guidance on Referrals for Potential Criminal Enforcement,” which outlines its plan to address criminal regulatory offenses within its...more

Ballard Spahr LLP

More Early Terminations of Redlining Consent Orders

Ballard Spahr LLP on

As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses redlining case after asserting payments were made

On May 21, the CFPB and DOJ successfully filed a motion to dismiss with prejudice a case in the U.S. District Court for the Western District of Tennessee after noting the defendant paid its penalties. The dismissal ended a...more

Sheppard Mullin Richter & Hampton LLP

DOJ and CFPB Terminate $9 Million Redlining Consent Order with Southern Regional Bank

On May 21, the U.S. District Court for the Western District of Tennessee granted a joint motion by the CFPB and DOJ to terminate a 2021 redlining settlement with a regional bank, vacating the consent order and dismissing the...more

Smith Anderson

CFPB Proposes Major Rollback of Existing Guidance

Smith Anderson on

On May 12, the Consumer Financial Protection Bureau (“CFPB”) and acting CFPB Director Russell Vought announced in a Federal Register filing that it is withdrawing dozens of its existing guidance materials—including policy...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses five enforcement actions voluntarily

On February 27, the CFPB voluntarily dismissed, with prejudice, five additional enforcement actions it filed during the Biden administration: All enforcement actions were filed in federal courts, as opposed to using...more

McGlinchey Stafford

CFPB Upheaval Continues: An Update

McGlinchey Stafford on

As we highlighted on Monday, the Consumer Financial Protection Bureau (CFPB) is currently facing an existential crisis as the Trump Administration and DOGE work to dismantle large parts of the consumer watchdog. Here’s what...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Credit Cards

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2024 applicable to the credit card industry. The year saw the CFPB give a fair amount of attention to credit card products, with a focus on pricing....more

BakerHostetler

Weekly Blockchain Blog - January 2025 #2

BakerHostetler on

U.S. Web3 Companies Launch Products and Tech Integrations - A major U.S. cryptocurrency exchange recently launched a “Bitcoin-based loans” product that allows customers to post BTC as collateral for USDC loans. ...more

Ballard Spahr LLP

DOJ and CFPB Remind Institutions of Rate Protections for Servicemembers

Ballard Spahr LLP on

The Servicemember Civil Relief Act limits the amount of interest that may be charged on certain financial obligations that were incurred before military service began to no more than 6% percent per year, including most fees...more

Bradley Arant Boult Cummings LLP

DOJ and CFPB Issue Joint Letter Reminding Financial Institutions of the SCRA Interest Rate Protections for Servicemembers

On December 5, 2024, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint letter directed at financial service providers to reinforce the importance of interest rate protections...more

Husch Blackwell LLP

CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets

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On November 13, the Consumer Financial Protection Bureau (CFPB) released a report on matched-pair testing in small business lending, highlighting potential racial discrimination. The study reveals that Black small business...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 29, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

DOJ and CFPB Announce Landmark Redlining Settlement With Fairway Independent Mortgage Corporation

Troutman Pepper Locke on

On October 15, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Department of Justice (DOJ) announced that they reached a settlement with Fairway Independent Mortgage Corporation (Fairway). This settlement...more

Ballard Spahr LLP

Judge refuses to dismiss most reverse discrimination counts in case against Colony Ridge

Ballard Spahr LLP on

Saying that reverse redlining is a form of discrimination, the U.S. District Court for the Southern District of Texas has refused to dismiss a discrimination case alleging that Texas developer Colony Ridge specifically...more

Nutter McClennen & Fish LLP

Nutter Bank Report: September 2024

The FDIC, OCC, and U.S. Department of Justice (DOJ) have coordinated the release of new policies that will govern each agency’s consideration of bank merger transactions. The FDIC and OCC each published final statements of...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 30, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Wiley Rein LLP

Wiley Consumer Protection Download (July 2, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - May 2024

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024 # 4

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2024

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - February 2024 # 3

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

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - January 2024 # 4

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

Wiley Rein LLP

Wiley Consumer Protection Download (January 8, 2024)

Wiley Rein LLP on

Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

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