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Oral Argument Financial Services Industry

Saul Ewing LLP

CFPB Director Chopra Replaced—Replacement Immediately Stops Work on All CFPB Initiatives, Including Oral Argument Scheduled for...

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On February 1, 2025, President Donald Trump terminated Rohit Chopra’s tenure as the Director of the Consumer Financial Protection Bureau (CFPB). Early on the morning of February 3, 2025, the CFPB issued a press release noting...more

Ballard Spahr LLP

Corporate Transparency Act Litigation Update:  Eleventh Circuit Hears Argument, and District of Oregon Rejects Preliminary...

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Various industry groups have filed lawsuits in multiple federal districts challenging the constitutionality of the Corporate Transparency Act (“CTA”). The first such suit, filed in the Northern District of Alabama, resulted...more

Ballard Spahr LLP

Fifth Circuit Court of Appeals Schedules Oral Arguments in CARS Rule Challenge for Oct 7

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The Fifth Circuit Court of Appeals has set oral arguments for Oct. 7 in the challenge of the Federal Trade Commission’s Combating Auto Retail Scams Rule (“CARS Rule”). The petition, filed on January 5, 2024 by the National...more

Ballard Spahr LLP

7th Circuit Holds ECOA Protections Apply to Prospective Applicants

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In a major win for the CFPB, in CFPB v. Townstone Financial, a panel of the U.S. Court of Appeals for the Seventh Circuit (7th Circuit) recently held that the Regulation B provision prohibiting discrimination under the Equal...more

Ballard Spahr LLP

Preliminary Injunction Hearing in Federal Court on Colorado DIDMCA Opt-Out Challenge

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On May 16, the U.S. District Court for the District of Colorado held a hearing in NAIB, et al v. Weiser, et al. on a motion filed by three financial services industry trade groups to preliminarily enjoin Colorado from...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

SCOTUS oral argument in Cantero v. Bank of America provides no clear indication of likely outcome

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On February 27, 2024, the U.S. Supreme Court heard oral argument in Cantero v. Bank of America, N.A., a case involving the effect of the Dodd-Frank Act on the scope of preemption under the National Bank Act (NBA). The...more

Ballard Spahr LLP

Important National Bank Act (NBA) preemption case to be argued Today, February 27, before US Supreme Court

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The oral argument in Cantero v. Bank of America, N.A. will be heard on Tuesday, February 27 before the US Supreme Court. The Court recently granted the unopposed motion of the Solicitor General to participate in the oral...more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging final OCC/FDIC/Federal Reserve Community Reinvestment Act rules

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Several national and Texas banking and business trade groups have filed a lawsuit in the U.S. District Court for the Northern District of Texas challenging the final regulations (Final Rules) implementing the Community...more

Ballard Spahr LLP

Bank of America files merits brief with SCOTUS in National Bank Act preemption case; DOJ seeks leave to participate in oral...

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Bank of America, N.A. has filed its merits brief in Cantero v. Bank of America, N.A., the case currently before the U.S. Supreme Court dealing with the scope of national bank preemption.  The petitioners must file their reply...more

Ballard Spahr LLP

SCOTUS holds oral argument in two cases challenging Chevron deference

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On January 17, 2024, the U.S. Supreme Court heard oral argument in the two cases in which the question presented is whether the Court should overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def. Council, Inc. ...more

Ballard Spahr LLP

SCOTUS to hear oral argument on Feb. 27 in National Bank Act preemption case

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On February 27, 2024, the U.S. Supreme Court will hear oral argument in Cantero v. Bank of America, N.A., a case involving the scope of preemption under the National Bank Act (NBA). The question before the Court is whether...more

Ballard Spahr LLP

SCOTUS to hear oral argument on February 20 to determine timing for facial challenges to federal regulations

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The U.S. Supreme Court has scheduled oral argument for Tuesday, February 20, 2024 in Corner Post, Inc. v Board of Governors of the Federal Reserve System. The question that the Supreme Court will decide is when a right of...more

Ballard Spahr LLP

U.S. Senate Fails to Override Veto of Legislation Rejecting CFPB Section 1071 Small Business Lending Rule

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As previously reported, in late December 2023 President Biden vetoed legislation adopted by the U.S. House of Representatives and U.S. Senate under the Congressional Review Act to override the CFPB’s final Section 1071 small...more

Ballard Spahr LLP

SCOTUS slated to make lasting impact on consumer financial services industry in 2024

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This New Year is setting up to be a momentous one for the consumer financial services industry in the United States Supreme Court. In 2024, the Supreme Court is expected to decide four impactful cases that may hold that the...more

Ballard Spahr LLP

Oral Arguments Held in CFPB v. Townstone Financial Case

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On December 8, 2023, oral arguments were held before a three judge panel of the U.S. Court of Appeals for the Seventh Circuit in the CFPB v. Townstone Financial case, in which the CFPB alleges that Townstone Financial, a...more

Troutman Pepper Locke

The 7 Most Notable FCRA Cases of 2023 So Far

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The first half of 2023 has produced significant developments for the Fair Credit Reporting Act. Important decisions have come from multiple areas of the field, including the federal courts of appeals and regulatory agencies. ...more

Ballard Spahr LLP

SCOTUS to hear oral argument on January 17 in cases challenging Chevron deference

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The U.S. Supreme Court has scheduled oral argument for January 17, 2024 in the two cases in which the question presented is whether the Court should overrule its 1984 decision in Chevron, U.S.A., Inc. v. Nat. Res. Def....more

McGlinchey Stafford

Clues On High Court Outcome In CFPB Constitutionality Case

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On October 3, the U.S. Supreme Court heard oral arguments in the Consumer Financial Protection Bureau v. Community Financial Services Association of America, the latest in a long line of cases targeting the constitutionality...more

Epstein Becker & Green

The Validity of More Than a Decade’s Worth of Federal Regulations Are at Stake as the U.S. Supreme Court Decides the...

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On October 3, 2023, the United States Supreme Court heard oral argument in Community Financial Services Association of America Ltd., et al. v. Consumer Financial Protection Bureau, et al., in which the Court was asked to...more

Troutman Pepper Locke

Supreme Court Hears Arguments on Challenge to CFPB’s Funding Structure

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On October 3, the U.S. Supreme Court heard arguments in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB or Bureau), a case in which the Fifth Circuit held that...more

Ballard Spahr LLP

SCOTUS hears oral argument in challenge to constitutionality of CFPB’s funding

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This week, the U.S. Supreme Court held oral argument in Community Financial Services Association of America Ltd. v. Consumer Financial Protection Bureau, a case we have been following closely on Consumer Finance Monitor...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

Ballard Spahr LLP

SCOTUS to hear oral argument on Oct. 3 in case challenging constitutionality of CFPB’s funding

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The U.S. Supreme Court has scheduled oral argument on October 3, 2023 in Community Financial Services Association of America Ltd. v. CFPB.  In the case, CFSA has asked the Supreme Court to affirm the Fifth Circuit panel’s...more

Ballard Spahr LLP

CFPB files amicus brief in Maryland Court of Appeals seeking rejection of class action settlement

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The CFPB has filed an amicus brief in the Maryland Court of Appeals urging the court to affirm the decision of the Court of Special Appeals reversing the trial court’s approval of a settlement agreement in a class action...more

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