News & Analysis as of

Regulatory Authority Administrative Procedure Act Consumer Financial Products

Ballard Spahr LLP

CFPB states the Section 1033 Open Banking rule exceeds its authority

Ballard Spahr LLP on

In its motion for a summary judgment in a lawsuit challenging the regulation, the CFPB stated it has concluded that the Section 1033 Rule (Rule) exceeds the agency’s statutory authority to create an open banking system...more

Troutman Pepper Locke

Credit Card Late Fee Rule Litigation: CFPB Indicates “Resolution is Feasible”

Troutman Pepper Locke on

In a significant development in the credit card late fee rule litigation, the Consumer Financial Protection Bureau (CFPB) has filed a status report indicating that it is actively working towards a resolution. This update...more

Ballard Spahr LLP

CFPB issues compendium of bureau guidance issued between October 2021 and January 2025

Ballard Spahr LLP on

As the Biden Administration came to a close, the CFPB released a compendium of guidance documents issued by the bureau between October 2021 and January 2025....more

Ballard Spahr LLP

Appeals court denies en banc hearing in CFSA’s challenge to CFPB’s payday rule

Ballard Spahr LLP on

The Fifth Circuit Court of Appeals has denied a request by the Community Financial Services Association of America (CFSA) to hold a rehearing en banc on the group’s challenge of the CFPB’s payday loan rule....more

Ballard Spahr LLP

Federal District Court on September 23, 2024, entered final judgement in favor of the CFPB in lawsuit challenging its small...

Ballard Spahr LLP on

Judge Randy Crane (E.D. Tex) ruled on August 26, 2024 that the CFPB did not exceed its authority under Dodd Frank when it issued its final Section 1071 small business lending rule. The court also rejected other Administrative...more

Ballard Spahr LLP

Texas Judge Rules CFPB Did Not Exceed Authority in Issuing Small Business Reporting Rule

Ballard Spahr LLP on

In a tentative win for the CFPB, a federal judge in Texas ruled on August 26, 2024, that the agency did not exceed its authority when it issued its final Section 1071 small business lending rule. The court also rejected...more

Troutman Pepper Locke

The End of Chevron Deference: Implications of the Supreme Court's Loper Bright Decision — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partners David Dove and Misha Tseytlin to revisit the Supreme Court's landmark decision in Loper Bright, which overruled the long-standing Chevron...more

Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

Ballard Spahr LLP on

On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

GeoDataVision

Chevron is History. Implications for the 2023 Community Reinvestment Act regulations

GeoDataVision on

When the Supreme Court decided in favor of the plaintiff in Loper Bright Enterprises et al vs. Gina Raimondo it overruled its decision in Chevron v. Natural Resources Defense Council, the so-called “Chevron Decision” which...more

Ballard Spahr LLP

Texas Federal District Court invalidates CFPB Exam Manual changes which opined that discrimination is a UDAAP violation

Ballard Spahr LLP on

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual. On that date, the CFPB purported to use...more

Troutman Pepper Locke

As Predicted, Texas Federal Court Holds CFPB Overstepped Its Authority With UDAAP Exam Manual Amendment

Troutman Pepper Locke on

On September 8, a federal court in the Eastern District of Texas granted summary judgment in favor of the U.S. Chamber of Commerce (Chamber) and several other trade associations, holding that the Consumer Financial Protection...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide