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Enforcement Actions Consumer Financial Protection Bureau (CFPB) Federal Funding

Hudson Cook, LLP

Consumer Financial Services Bites of the Month - June 2025

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In this month's article, we share some of our top "bites" covered during the June 2025 webinar....more

Morrison & Foerster LLP

FinReg Currents - Week 4

On February 7, 2025, newly confirmed Office of Management and Budget (OMB) director Russell Vought replaced Treasury Secretary Scott Bessent as acting director of the CFPB....more

Orrick, Herrington & Sutcliffe LLP

CFPB reportedly cancels $100M+ in vendor contracts, including IT and cybersecurity

On February 11, the CFPB reportedly canceled more than $100 million in vendor contracts as part of a cost-cutting initiative by its new leadership. The cuts include 102 contracts related to the enforcement division, 33...more

Ballard Spahr LLP

Vought halts most work at CFPB

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Acting CFPB Director Russell Vought has temporarily put a halt to virtually all of the agency’s work. ...more

Bradley Arant Boult Cummings LLP

Vought’s Transformational First Few Days at the CFPB

Within approximately 48 hours, starting on the evening of Friday, February 7, 2025, the trajectory of the Consumer Financial Protection Bureau (CFPB) was significantly altered. Among other things, a new acting director was...more

McGlinchey Stafford

CFPB Under Trump: Internal and External Threats Continue to Mount

McGlinchey Stafford on

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

Cozen O'Connor

The State AG Report – 02.06.2025

Cozen O'Connor on

Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: •NCAA Agrees to Stop Imposing Name, Image, & Likeness...more

Ballard Spahr LLP

Another target of CFPB enforcement action argues that lawsuit filed on August 23, 2023 must be dismissed because the CFPB lacked...

Ballard Spahr LLP on

We have recently blogged about two other actions in which this issue has been raised (one being a declaratory judgment action filed against the CFPB on July 23, 2024 in the E.D. Tex. and the other being an enforcement action...more

Ballard Spahr LLP

Populus files motion to dismiss CFPB enforcement action based on fact that CFPB has been unlawfully funded by Fed when it had no...

Ballard Spahr LLP on

We have previously blogged about an enforcement action brought on July 12, 2022 by the CFPB against Populus Financial Group, Inc., d/b/a ACE Cash Express, Inc. in Federal District Court for the Northern District of Texas...more

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

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In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more

Cadwalader, Wickersham & Taft LLP

Second Circuit Rules CFPB Funding Mechanism Is Constitutional, Deepening Split with Fifth Circuit

On March 23, the U.S. Court of Appeals for the Second Circuit ruled that the CFPB’s funding mechanism is constitutional. The case, CFPB v. Law Offices of Crystal Moroney, is significant for two reasons. First, the Second...more

Orrick, Herrington & Sutcliffe LLP

CFPB urges Supreme Court review of 5th Circuit decision

The CFPB recently filed a reply brief in its petition for a writ of certiorari asking the U.S. Supreme Court to review whether the U.S. Court of Appeals for the Fifth Circuit erred in holding that the Bureau’s funding...more

Hudson Cook, LLP

CFPB Bites of the Month - 2022 Annual Review - Mortgage

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2022 applicable to the Mortgage industry. So, what happened in 2022?...more

Orrick, Herrington & Sutcliffe LLP

CFPB says ruling on funding structure doesn’t affect debt collector’s CID

In December, the CFPB denied a petition by a debt collection agency to set aside a civil investigative demand (CID) issued last October. The company challenged the Bureau’s authority to issue the CID on the grounds that the...more

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