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Dodd-Frank Wall Street Reform and Consumer Protection Act State Attorneys General Consumer Financial Protection Bureau (CFPB)

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 -
Ballard Spahr LLP

Citing CFPB cutbacks, Pennsylvania Governor is beefing up consumer protection efforts

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Citing cutbacks at the federal level, Pennsylvania Governor Josh Shapiro has launched a new centralized consumer protection hotline, website and email address to make it easier for state residents to report allegations of...more

Troutman Pepper Locke

New York's Bold Move to Create a Mini CFPB — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Jesse Silverman and James Kim to discuss recent developments in New York's legislative efforts to strengthen its consumer financial...more

K&L Gates LLP

Why Financial Institutions Should Stay the Course

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Introduction - Many regulated businesses believe that the only thing worse than strict regulations is a wholly uncertain regulatory environment. With many rule changes on hold and enforcement actions and investigations being...more

Orrick, Herrington & Sutcliffe LLP

The Continued State Enforcement of Federal Financial Regulatory Laws

Over the past four years, the Consumer Financial Protection Bureau has sought to strengthen state and local governments’ enforcement of consumer protection laws. The CFPB has engaged in numerous coordinated federal-state...more

Orrick, Herrington & Sutcliffe LLP

State attorneys general file second amicus brief challenging CFPB pause

On February 21, a group of 23 state attorneys general (AGs) filed an amicus brief in support of the union representing CFPB workers in the union’s request for a preliminary injunction challenging the recent efforts to halt...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

Kelley Drye & Warren LLP

Multistate Coalition Files Amicus Brief Warning Against Efforts to Dismantle the CFPB

Last week, a coalition of all 23 democratic attorneys general filed an amicus brief in the U.S. District Court for the District of Maryland warning against efforts by the Trump Administration to defund and disband the...more

Orrick, Herrington & Sutcliffe LLP

CFPB Pause: Where From Here?

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

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

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?

McGlinchey Stafford on

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

McGlinchey Stafford

FTC’s CARS Rule Vacated — What Finance Companies Need to Know

McGlinchey Stafford on

In a procedural decision, the U.S. Court of Appeals for the Fifth Circuit vacated the CARS Rule (officially, the Combatting Auto Retail Scams Trade Regulation Rule, sometimes known as the Vehicle Shopping Rule) which was...more

Orrick, Herrington & Sutcliffe LLP

Q&A: Will States Take the Lead in Consumer Protection?

On Saturday, February 1, Rohit Chopra was dismissed as Director of the Consumer Financial Protection Bureau (CFPB), with Secretary Scott Bessent appointed as Acting Director that same day. The following weekend, Office of...more

Orrick, Herrington & Sutcliffe LLP

Will State-Level Consumer Protection Activity Increase Amid CFPB Shakeup?

On Saturday, February 1, Rohit Chopra was dismissed as Director of the Consumer Financial Protection Bureau (CFPB), with Secretary Scott Bessent appointed as Acting Director that same day. The following weekend, Office of...more

Snell & Wilmer

Potential Impacts of the New Administration on Financial Institutions

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The inauguration of President Donald Trump on January 20, 2025, is anticipated to bring significant changes to the regulatory landscape for financial institutions. A central aspect of this shift is the expected overhaul of...more

Cozen O'Connor

FTC is Riding Shotgun with Potential Car Buyers

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The FTC finalized a new rule intended to protect consumers buying a new car from unlawful and deceptive sales tactics pursuant to its authority under the Dodd-Frank Act to prescribe rules relating to unfair or deceptive...more

Troutman Pepper Locke

Supreme Court Denies Oral Argument to Republican State AGs Who Argue That the CFPB Funding Mechanism Is Unconstitutional

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On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v....more

Morgan Lewis - All Things FinReg

CFPB Proposes Additional Reporting Requirements on Non-Bank Financial Institutions

For the second time in a month, the Consumer Financial Protection Bureau (CFPB) has proposed a new rule that would require businesses to report already public information and thereby increase the burdens on, and risks to, the...more

Wiley Rein LLP

Wiley Consumer Protection Download (December 13, 2021)

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Thank you for your interest in the Wiley Consumer Protection Download! This will be our last publication of 2021, with our bi-weekly newsletter returning in January 2022. Welcome to Wiley’s update on recent developments...more

Cozen O'Connor

The State AG Report - Volume 7, Issue 33 | August 2021

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Here are last week’s curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: Expensive Pets: Scammer Sells Badly Behaved...more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

Cozen O'Connor

Google Faces 2 Antitrust Suits | “Made In USA” Glue Isn’t | Mortgage-Backed Securities Settlement

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Antitrust- Google Is in the Crosshairs of Two Multistate Antitrust Suits- •Two groups of AGs filed antitrust lawsuits against Google LLC (“Google”). •A group of seven Republican AGs, led by Texas AG Ken Paxton, sued...more

Cozen O'Connor

COVID-19 Fake Cures | Accuracy In Debt Collection Reporting | North Carolina AG Reelected

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2020 AG Elections- Just Called: Incumbent Attorney General Wins Second Term in North Carolina- •North Carolina AG Josh Stein (D) won reelection in a closely watched race over Jim O’Neill (R) by a margin of 51% to 49.9%....more

BCLP

Consumer Financial Services and Fintech Enforcement Trends in California

BCLP on

Following the departure of former CFPB Director Richard Cordray in 2017, consumer advocates and state attorneys general raised concerns regarding the new hands-off approach by the Trump administration pertaining to consumer...more

Cozen O'Connor

Massachusetts Attorney General Alleges Chipotle Served Up A Side Order Of Wage And Hour Violations, Reaches $2 Million Settlement

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Labor & Employment- Massachusetts Attorney General Alleges Chipotle Served Up a Side Order of Wage and Hour Violations, Reaches $2 Million Settlement- Massachusetts AG Maura Healey reached a settlement with casual...more

Cozen O'Connor

The State AG Report Weekly Update August 2019 #4

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2020 AG Elections- Democrat Karen Tallian Announces Bid for Indiana Attorney General- State Senator Karen Tallian, a Democrat, has announced her candidacy for Indiana AG in 2020. Senator Tallian has served in the state...more

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