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Dodd-Frank Wall Street Reform and Consumer Protection Act › Consumer Financial Protection Bureau (CFPB) › Administrative Procedure Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Holland & Knight LLP

CFPB Seeks Dismissal of Pending UDAAP Examination Manual Litigation

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The CFPB on April 30, 2025, filed a joint stipulation to dismiss its appeal pending before the U.S. Court of Appeals for the Fifth Circuit regarding an agency policy that expands the scope of antidiscrimination oversight....more

Husch Blackwell LLP

Eastern District of Kentucky Tolls Compliance Deadlines for § 1033 of the Dodd-Frank Act

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On February 25, 2025, Judge Danny C. Reeves of the Eastern District of Kentucky granted a Joint Motion to Stay Proceedings in Forcht Bank, NA et al v. Consumer Financial Protection Bureau et al, temporarily staying litigation...more

Holland & Knight LLP

CFPB Grinds to a Halt: Impacts on Industry

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U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more

Orrick, Herrington & Sutcliffe LLP

CFPB Pause: Where From Here?

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Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On February 8, the Consumer Financial Protection...more

Orrick, Herrington & Sutcliffe LLP

5th Circuit grants stay over 2022 changes to CFPB’s examination manual

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On February 18, the U.S. Court of Appeals for the Fifth Circuit granted the CFPB’s unopposed request to stay a pending appeal for 90 days to give the acting director, Russell Vought, time to review the CFPB’s position in this...more

Sheppard Mullin Richter & Hampton LLP

CFPB Small Business Lending Data Rule Survives Challenge in Federal Court

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On February 19, a federal magistrate judge for the United States District Court for the Southern District of Florida issued a report and recommendation rejecting a trade group’s challenge to the CFPB’s small business lending...more

Orrick, Herrington & Sutcliffe LLP

State attorneys general and CFPB file briefs in City of Baltimore case against defunding CFPB

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On February 19, a group of states filed an amicus brief in support of a request by the City Council and Mayor of Baltimore to preliminarily enjoin the CFPB and its Acting Director, Russell Vought, from actions that would...more

McGlinchey Stafford

CFPB’s Open Banking Rules: Dead on Arrival or Alive and Well?

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The Consumer Financial Protection Bureau (CFPB) finalized its long-awaited Personal Financial Data Rights rules under Section 1033 of the Dodd-Frank Act, marking a significant milestone in the regulation of...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025 # 3

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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

McGlinchey Stafford

CFPB Under Trump: Internal and External Threats Continue to Mount

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A new acting director. Freezes on any rulemaking, enforcement, or supervisory activities. Attempts to dismantle the department from within. In the span of a short forty-eight hours, the CFPB has faced possibly the greatest...more

Troutman Pepper Locke

CFPB Files “Emergency Notice” in 1071 Final Rule Case and Does Not Oppose Stay of the 1071 Rule; Agency Also Seeking a “Pause” in...

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Hours before a scheduled hearing yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed an “Emergency Notice” in the U.S. Court of Appeals for the Fifth Circuit with respect to the ongoing litigation...more

Hudson Cook, LLP

Featuring BizFinLaw - November 2024

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In Texas Bankers Association v. Consumer Financial Protection Bureau, the U.S. District Court for the Southern District of Texas denied a summary judgment motion by the Texas Bankers Association and other plaintiffs to set...more

Ballard Spahr LLP

Federal District Court on September 23, 2024, entered final judgement in favor of the CFPB in lawsuit challenging its small...

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Judge Randy Crane (E.D. Tex) ruled on August 26, 2024 that the CFPB did not exceed its authority under Dodd Frank when it issued its final Section 1071 small business lending rule. The court also rejected other Administrative...more

Bradley Arant Boult Cummings LLP

Bradley Comment Letter Highlights Questions Regarding the CFPB’s Statutory Authority to Issue Contemplated Mortgage Servicing...

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On July 10, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposal to amend the existing mortgage servicing rules in Regulation X. The substance of the proposal has attracted a lot of attention and...more

Ballard Spahr LLP

Texas Judge Rules CFPB Did Not Exceed Authority in Issuing Small Business Reporting Rule

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In a tentative win for the CFPB, a federal judge in Texas ruled on August 26, 2024, that the agency did not exceed its authority when it issued its final Section 1071 small business lending rule. The court also rejected...more

Troutman Pepper Locke

Texas Federal District Court Rejects All Administrative Procedure Act Challenges to CFPB’s Section 1071 Final Rule

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Monday, the U.S. District Court for the Southern District of Texas granted the Consumer Financial Protection Bureau’s (CFPB or Bureau) motion for summary judgment on all Administrative Procedure Act (APA) challenges brought...more

Ballard Spahr LLP

CFPB files its reply brief in support of the CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 22, 2024, the CFPB filed its reply brief in support of its motion to dissolve the preliminary injunction and lift the stay of the CFPB’s credit card late fee final rule (“Rule”) in the lawsuit challenging the Rule....more

Ballard Spahr LLP

Lender Fights Back Against CFPB Lawsuit, Arguing Unconstitutional Delegation of Power and Other Constitutional Violations

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On July 30, 2024, Heights Finance Holding Co. f/k/a Southern Management Corporation and a group of its wholly-owned, state-licensed subsidiaries (collectively, “Southern”) filed a motion for judgment on the pleadings (the...more

Ballard Spahr LLP

CFPB: Payday Plaintiffs Not Entitled to En Banc Rehearing

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The plaintiffs challenging the CFPB payday lending rule should not be entitled to an en banc rehearing because the issues they cite already have become final and the time for rehearing has lapsed, the CFPB said last week...more

Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Issues Circular, Warning Against Whistleblower Intimidation

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On July 24, 2024, the CFPB issued a circular detailing how companies may be breaking the law by requiring employees to sign broad nondisclosure agreements that could deter whistleblowing.  Under Section 1057(a) of the...more

Ballard Spahr LLP

DC federal court vacates CFPB’s prepaid card short-form disclosure for digital wallet products

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The D.C. federal district court has granted PayPal’s motion for summary judgment in its lawsuit challenging the CFPB’s prepaid card rule (Prepaid Rule) and vacated the Prepaid Rule’s short-form disclosure requirement as...more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging CFPB final credit card late fee rule and ask for preliminary...

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Just two days after the CFPB issued its final credit card late fee rule (Rule) last week, a lawsuit was filed in a Texas federal district court seeking to invalidate the Rule. The plaintiffs in the lawsuit are the Chamber of...more

Ballard Spahr LLP

Plaintiffs and intervenors file summary judgment motion in Texas lawsuit challenging CFPB small business data collection rule

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The plaintiffs and intervenors in the lawsuit filed in a Texas federal district court challenging the CFPB’s final small business lending rule implementing Section 1071 of Dodd-Frank (Rule) have filed a consolidated motion...more

Troutman Pepper Locke

Sales-Based Financing Trade Group Files Suit Challenging CFPB’s Section 1071 Rule

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Late last month, the Revenue Based Finance Coalition (RBFC), a trade group of sales-based financing providers, filed a complaint in the U.S. District Court for the Southern District of Florida challenging the Consumer...more

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