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Preliminary Injunctions Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

Fifth Circuit affirms lower court’s decision against short-term lender

On July 1, the U.S. Court of Appeals for the Fifth Circuit affirmed a lower court’s decision denying a short-term lender’s request for a preliminary injunction against the City of Dallas over the City’s new lending...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Shumaker Prevails in Asserting Clients' Right to FINRA Arbitration

Sarasota, FL – Shumaker's clients celebrated a significant victory in their efforts to arbitrate claims against subsidiaries of the failed First Republic Bank. Sixteen former First Republic advisors—all of whom were clients...more

Carey Olsen

Freezing injunctions in the Cayman Islands

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The Grand Court of the Cayman Islands (“Cayman Court”) can grant a freezing injunction: • in connection with underlying proceedings brought in the Cayman Islands (whether issued or contemplated); or - • in relation to...more

Ballard Spahr LLP

DOJ lawyers, National Treasury Employees Union attorney square off in appeals court over CFPB firings

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Despite massive attempted layoffs and cancellation of third-party vendor contracts, the Trump Administration did not and does not intend to shut down the CFPB, a Justice Department attorney told a federal appeals court on...more

Ballard Spahr LLP

What in the world does birthright citizenship have to do with consumer financial services?

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The short answer is that the outcome of the Supreme Court hearing (whose oral argument is scheduled for May 15 at 10 am) is of immense importance to all stakeholders in the consumer financial services industry. We will...more

Ballard Spahr LLP

FinCEN’s Southwest Border Geographic Targeting Order Faces Challenges in Texas and Southern California

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In March, we wrote about the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issuing a Geographic Targeting Order (GTO) aimed to combat Mexican-based drug cartels. The GTO signals Treasury’s efforts to...more

Ballard Spahr LLP

Trump Administration appeals ruling that blocked CFPB firings

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The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025....more

Ballard Spahr LLP

Appeals Court blocks judge’s order temporarily prohibiting large-scale changes at CFPB

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The Circuit Court of Appeals for the District of Columbia has issued an administrative stay for to a judge’s order blocking wholesale changes at the CFPB....more

Ballard Spahr LLP

Judge grants CFPB 30 days to settle lawsuit over credit card late fee rule

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A federal judge has granted the CFPB 30 days to try to settle the lawsuit challenging the bureau’s s credit card late fee rule that was issued during the Biden Administration....more

Ballard Spahr LLP

Illinois swipe fee injunction extended to cover out-of-state banks, but not federal credit unions

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Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state...more

Ballard Spahr LLP

Federal Judge Issues Order Prohibiting Massive Layoffs, Budget Cuts at CFPB Pending Ruling on Motion for Preliminary Injunction

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A federal judge has issued an order temporarily prohibiting the Trump Administration from imposing mass layoffs and budget cuts at the CFPB....more

Ballard Spahr LLP

City of Baltimore and National Treasury Employees Union file separate suits to keep the CFPB funded and operating

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Accusing the CFPB of planning to use its funding mechanism to abolish the agency, the mayor and the city council of Baltimore (the “City of Baltimore”) and the Economic Action Maryland Fund (the “Economic Fund”), a nonprofit...more

Sheppard Mullin Richter & Hampton LLP

Illinois ‘Swipe Fee’ Law Faces Continued Pushback as Court Partially Extends Injunction

On February 6, 2025, the U.S. District Court of the Northern District of Illinois declined to issue a preliminary injunction to stop an Illinois “swipe fee” law that would ban certain credit and debit card fees from applying...more

Troutman Pepper Locke

CFPB Continues “Pausing” Litigation: This Time in Medical Debt Rule Litigation

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The Consumer Financial Protection Bureau (CFPB or Bureau) requested and was granted a 90-day stay in the litigation involving trade associations Cornerstone Credit Union League (Cornerstone) and the Consumer Data Industry...more

Ballard Spahr LLP

Bank associations seek a preliminary injunction to block CFPB overdraft rule

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Mississippi Bankers Association, the American Bankers Association, the Consumer Bankers Association, America’s Credit Unions, and three banks are seeking a preliminary injunction blocking the CFPB from implementing the...more

Ballard Spahr LLP

Federal Judge refuses to lift injunction blocking CFPB credit card late fee rule

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A Texas federal judge has refused to lift the preliminary injunction blocking the CFPB’s enforcement of its final rule that would require larger credit card issuers to lower their late fees to $8 and that would also permit...more

Mayer Brown

FinCEN Confirms Suspension of Corporate Transparency Act

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Join us for a new episode of Financial Services Focus with partners Gina Parlovecchio and Matthew Bisanz, and associate Kelly Truesdale, as they discuss FinCEN’s recent confirmation that reporting companies are not required...more

Orrick, Herrington & Sutcliffe LLP

District Court denies CFPB motions, keeps credit card late fee injunction

On December 6, the U.S. District Court for the Northern District of Texas denied the CFPB’s motion to dismiss a sole local plaintiff for lack of standing, as well as a motion to transfer the challenge to the CFPB’s credit...more

McGlinchey Stafford

The CFPB’s Credit Card Late Fee Rule Appears Doomed

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On December 6, 2024, the United States District Court for the Northern District of Texas denied a motion by the Consumer Financial Protection Bureau (CFPB) to dissolve a preliminary injunction that had enjoined its Credit...more

Troutman Pepper Locke

Texas Federal Court Denies CFPB’s Motions and Finds Plaintiffs Likely to Succeed on the Merits in Significant Credit Card Late Fee...

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In a significant development in the ongoing litigation over the Consumer Financial Protection Bureau’s (CFPB or Bureau) Final Rule on credit card late fees, the U.S. District Court for the Northern District of Texas denied...more

Troutman Pepper Locke

Troutman Represents all Fifty States Bankers Associations and D.C. in Tenth Circuit DIDMCA Opt-Out Litigation

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In the last two weeks, several amicus briefs were filed in the Tenth Circuit in the ongoing litigation concerning Colorado’s opt-out from the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). Troutman...more

Orrick, Herrington & Sutcliffe LLP

10th Circuit urged by associations to affirm a preliminary injunction

As previously covered by InfoBytes, the U.S. District Court for the District of Colorado preliminarily enjoined enforcement of Colorado’s UCCC against state-chartered banks not located in Colorado providing loans to Colorado...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

Plaintiffs Free to Appeal The CFPB 1071 Rule After Some Plaintiffs Drop Their CFPB Unlawful Funding Claim

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On August 26, 2024, Chief Judge Randy Crane in the S.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

Ballard Spahr LLP

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

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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

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