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Consumer Financial Protection Bureau (CFPB) Injunctive Relief Financial Services Industry

Ballard Spahr LLP

Supreme Court rejects granting of universal or nationwide injunctions in landmark opinion

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Last Friday, the Supreme Court, in a 6-3 opinion in Trump v. CASA, Inc. covering three separate lawsuits that were consolidated for purposes of argument and decision, held that Federal Courts may not grant a universal...more

McGlinchey Stafford

The CFPB’s Credit Card Late Fee Rule Appears Doomed

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On December 6, 2024, the United States District Court for the Northern District of Texas denied a motion by the Consumer Financial Protection Bureau (CFPB) to dissolve a preliminary injunction that had enjoined its Credit...more

Troutman Pepper Locke

Fifth Circuit Denies CFPB’s Petition for Panel Rehearing in Credit Card Late Fee Rule Lawsuit

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On May 3, the U.S. Court of Appeals for the Fifth Circuit entered an order denying the CFPB’s (CFPB) petition for a panel rehearing and effectively setting the stage for a long-awaited ruling on a preliminary injunction in...more

Troutman Pepper Locke

Fifth Circuit Vacates District Court’s Denial of Preliminary Injunction in Credit Card Late Fee Rule Lawsuit, Remands for Further...

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On April 30, the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the district court’s effective denial of the motion for a preliminary injunction filed by several trade groups, including the U.S. Chamber...more

Ballard Spahr LLP

Fifth Circuit directs Texas federal court to rule by May 10 on plaintiffs’ preliminary injunction motion in lawsuit challenging...

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A surprising development took place this week in the lawsuit challenging the CFPB’s final credit card late fee rule (Rule). The Fifth Circuit entered an order vacating the district court’s order denying the plaintiffs’...more

Ballard Spahr LLP

Plaintiffs file memorandum opposing FDIC’s motion to dismiss challenge to NSF fee guidance

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On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to...more

Ballard Spahr LLP

Rationale for Federal District Court issuing an injunction in addition to vacating changes to UDAAP Exam Manual

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Monday, we blogged about the opinion issued on September 8 by the Federal District Court for the Eastern District of Texas in the lawsuit brought last year by several trade associations against the CFPB. In that lawsuit, the...more

Troutman Pepper Locke

Texas Federal Court Enjoins CFPB’s Enforcement of its Section 1071 Rule Against Plaintiffs and Their Members Pending U.S. Supreme...

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As discussed here, on April 26, the Texas Bankers Association, the American Bankers Association (ABA), and Rio Bank, McAllen, Texas (Rio Bank) filed a complaint in the U.S. District Court for the Southern District of Texas...more

Ballard Spahr LLP

Texas federal district court issues limited preliminary injunction enjoining CFPB from implementing and enforcing small business...

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The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from...more

Cozen O'Connor

James and the CFPB Sue Moneygram over Consumer Protection and Anti-Fraud Allegations

Cozen O'Connor on

New York AG Letitia James and the CFPB sued Moneygram International, Inc. and Moneygram Payment Systems, Inc. (collectively “Moneygram”) over alleged violations of consumer protection laws, including the Consumer Financial...more

Ballard Spahr LLP

CFPB Extends Comment Period For Supplemental Debt Collection Proposal; States Take Emergency SOL Actions

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Comment period extension. Yesterday, the CFPB announced a second 60-day extension of the comment period for its supplemental proposal that would require debt collectors to make specified disclosures when collecting...more

Ballard Spahr LLP

CFPB files lawsuit against debt collector and CEO for alleged FCRA, FDCPA, CFPA violations

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On September 25, 2019, the CFPB filed a lawsuit in federal district court in Maryland against Maryland-based debt collector FCO Holding, Inc. (“FCO”), its various subsidiaries and Michael E. Sobota, the CEO, president,...more

Bradley Arant Boult Cummings LLP

CFPB Issues Second Consent Order under Acting Director Mulvaney

Security Group, Inc. and several of its wholly owned subsidiaries entered into a consent order with the Consumer Financial Protection Bureau (CFPB) in which it agreed to injunctive relief and to pay a $5 million penalty....more

Ballard Spahr LLP

CFPB sues nation’s largest debt-settlement services provider

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The CFPB has filed a lawsuit in a California federal district court against Freedom Debt Relief (FDR) and its CEO for alleged violations of the Consumer Financial Protection Act (CFPA) and the Telemarketing Sales Rule (TSR). ...more

Ballard Spahr LLP

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

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The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

BakerHostetler

CFPB Announces $2.5 Million Fine, Compliance Monitoring for Deceptive Debt Collection Practices

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On April 25, 2016, the Consumer Financial Protection Bureau (CFPB) entered into consent orders with a debt collection law firm, two of the firm’s principal partners, and New Century Financial Services, Inc., a company that...more

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