Financial Institutions, Regulatory Agenda, Federal Funding

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

Ballard Spahr LLP on 6/26/2025

Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Congressional Financial Services Committee members pen letter to CFPB requesting explanation for a $0 funding request

Orrick, Herrington & Sutcliffe LLP on 2/14/2025

On February 11, the ranking members from both the House Committee on Financial Services and the House Subcommittee on Financial Institutions sent a letter to CFPB Acting Director Russell Vought expressing concerns regarding...more

FinReg Currents - Week 4

Morrison & Foerster LLP on 2/14/2025

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

Plaintiffs free to appeal CFPB 1071 Rule after some plaintiffs drop their CFPB unlawful funding claim

Ballard Spahr LLP on 9/17/2024

On August 26, 2024, Chief Judge Randy Crane in the E.D. Texas granted summary judgment to the CFPB, denied summary judgment to the trade groups and upheld the CFPB’s 1071 Rule (small business loan data collection rule)....more

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 8/7/2024

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

Fifth Circuit Rules CFPB Credit Card Late Fee Rule Case Stays in Texas

Troutman Pepper Locke on 6/20/2024

On June 18, the Fifth Circuit Court of Appeals granted the plaintiffs’ petition for a writ of mandamus, effectively halting the transfer of the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau)...more

As Federal Shutdown Continues, Financial Regulators Seek to Address Related Impacts

Bradley Arant Boult Cummings LLP on 1/17/2019

With no immediate end in sight to the current federal shutdown, financial regulators are seeking to minimize the adverse impacts of the shutdown on individuals. In a January 11, 2019, press release, the Board of Governors of...more

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