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Loans Appeals Consumer Financial Protection Bureau (CFPB)

Moore & Van Allen PLLC

CFPB Announces It Will Not Prioritize Enforcement And Supervision Of Its Small Business Lending Data Collection Rule Under The...

On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing the requirements of...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit denies rehearing of lending company’s restitution challenge

On April 24, the U.S. Court of Appeals for the Ninth Circuit denied a loan company’s petition for rehearing and or rehearing en banc. The lender contested that the $134 million legal restitution it was mandated to pay to the...more

Ballard Spahr LLP

Appeals Court stays small business reporting rule for many financial institutions

Ballard Spahr LLP on

The Fifth Circuit Court of Appeals has issued a stay that blocks for many financial institutions the implementation of a CFPB rule that requires the institutions to report information contained in loan applications submitted...more

Orrick, Herrington & Sutcliffe LLP

Ninth Circuit upholds CFPB’s restitution order against lending company, affirming waiver of jury trial rights

On January 3, the U.S. Court of Appeals for the Ninth Circuit published an opinion in a case involving a consumer lending company’s appeal of the district court’s order to pay more than $134 million in legal restitution,...more

Goodwin

Financial Services Weekly Roundup: Madden Fix/Valid When Made Rule Faces New Challengers

Goodwin on

In the News. On the heels of a lawsuit challenging the Office of the Comptroller of the Currency’s (OCC) recently issued Madden fix/valid when made rule, eight state attorneys general filed suit challenging a similar rule...more

Ballard Spahr LLP

Federal district court certifies interlocutory appeal in CFPB lawsuit against CashCall

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The California federal district court judge who is presiding over the CFPB’s lawsuit against CashCall and several related companies that funded, purchased, serviced, and collected online installment loans has granted the...more

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