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Regulatory Oversight Consumer Financial Products Enforcement Actions

Alston & Bird

Payments Docket | July 2025

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features the CFPB dropping most of its caseload, several states’ decisions to pick up the slack, and...more

Ballard Spahr LLP

CFPB won’t prioritize BNPL enforcement

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The CFPB will not make enforcement of its Buy Now, Pay Later rule a priority, according to a recent statement....more

Cooley LLP

Slimmed-Down CFPB to Focus on Bank Oversight, Concrete Consumer Harm

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On April 16, the Consumer Financial Protection Bureau (CFPB) sent an internal memorandum to CFPB staff describing its 2025 supervisory and enforcement priorities. Not surprisingly, the memo highlights its intended departure...more

Katten Muchin Rosenman LLP

CFPB Suggests Shift In Supervision and Enforcement Priorities

On April 16, the Consumer Financial Protection Bureau (CFPB) seemingly provided its employees with a memorandum outlining its ongoing supervisory and enforcement priorities (Memo). Although the Memo has not been made publicly...more

Sheppard Mullin Richter & Hampton LLP

CFPB Plans Limited Enforcement of Payday Lending Rule

On March 28, the CFPB announced that it will not prioritize enforcement or supervision of the remaining provisions of its Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, which were set to take...more

Goodwin

2024 Year in Review: Fintech

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Financial technology — or fintech — companies will continue to receive increased regulatory scrutiny in 2025. The latter half of 2024 saw a rise in regulatory guidance and enforcement activity relating to fintechs and the...more

Sheppard Mullin Richter & Hampton LLP

California Governor Appoints New DFPI Commissioner

On February 7, California Governor Gavin Newsom announced the appointment of Khalil “KC” Mohseni as the new Commissioner of the California Department of Financial Protection and Innovation (DFPI). Mohseni has been serving as...more

Ballard Spahr LLP

Congressional Democrats accuse Trump Administration of ‘incursion’ at the CFPB

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More than 185 Democrats in the House and Senate are urging Trump Administration officials to restore the enforcement and supervisory powers of the CFPB....more

Ballard Spahr LLP

State authorities stepping up consumer protection efforts

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In the wake of recent federal directives diminishing the Consumer Financial Protection Bureau (CFPB), state authorities are increasingly stepping in to uphold consumer protections. Michigan Attorney General Dana Nessel has...more

Troutman Pepper Locke

The CFPB Issues Revised Sandbox and No-Action Letter Policies

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Earlier this month, the Consumer Financial Protection Bureau (CFPB or Bureau) issued new policy statements regarding its Compliance Assistance Sandbox (CAS) and No-Action Letters (NAL) programs. ...more

Ballard Spahr LLP

CFPB calls on states to be more aggressive in enforcing consumer financial protection laws

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The CFPB is calling on state governments to increase their focus on consumer financial protection laws....more

Troutman Pepper Locke

DC OAG Resolves Alleged Usury and Deceptive Acts Violations With Community Lending Platform

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On May 10, SoLo Funds, Inc. (Solo), one of the largest community lending platforms in the United States, entered into a settlement with the District of Columbia attorney general (OAG). The settlement resolves claims that the...more

Ballard Spahr LLP

CFPB issues Fall 2019 Semi-Annual Report to Congress

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The CFPB has issued its Fall 2019 Semi-Annual Report to Congress covering the period April 1, 2019 through September 30, 2019. ...more

Ballard Spahr LLP

Director Kraninger testifies at House and Senate hearings

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CFPB Director Kraninger was the sole witness at a House Financial Services Committee hearing thsi week on the Bureau’s Spring 2019 semi-annual report and at a Senate Banking Committee hearing yesterday on the report. ...more

Hogan Lovells

You can't spell FinTech without FTC

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The Consumer Financial Protection Bureau (CFPB) is not the only consumer watchdog keeping a close eye on the financial sector and certainly not the only agency focused on FinTech. This is also a key area for the Federal Trade...more

Ballard Spahr LLP

FTC and Veterans Affairs announce MOA on referrals for deceptive advertising, sales or enrollment practices targeting veterans...

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At the end of last week, the Federal Trade Commission (FTC) and the Department of Veterans Affairs (VA) announced that they have entered into a Memorandum of Agreement (MOA) “to provide mutual assistance in the oversight and...more

Hogan Lovells

Financial Industry Trends to Watch 10 Years After the Collapse of Lehman Brothers

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Lehman Brothers’ collapse a decade ago changed the financial services industry and brought about stronger regulation around the world. Now efforts to relax those regulations have emerged in both the US and UK – amid a turn...more

Ballard Spahr LLP

Regulation by Enforcement is Dead

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Addressing the Mortgage Bankers Association (MBA) 2018 Annual Convention in Washington, DC on October 15, 2018, BCFP Acting Director Mick Mulvaney advised that regulation by enforcement is dead, and that he does not care much...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Anbang Insurance founder Wu Xiahoui’s fall from grace now includes an 18-year prison sentence for his conviction by a Shanghai court for using Anbang to “cheat investors out of more than $10 billion”....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Not an ideal report on the state of affairs for Zelle, the big banks’ payment-platform answer to Venmo. The Times reports that the “same features that make Zelle so useful for customers, its speed and ubiquity, have made it...more

Ballard Spahr LLP

CFPB seeks comment on its consumer complaint and inquiry handling process

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The CFPB has issued a request for information that seeks comment on its handling of consumer complaints and inquiries.  ...more

Ballard Spahr LLP

Acting Director Mulvaney appears before House Financial Services Committee

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Yesterday, Mick Mulvaney made his first appearance as CFPB Acting Director before the House Financial Services Committee to present the Bureau’s Semi-Annual Report to Congress for the period beginning April 1, 2017, and...more

Ballard Spahr LLP

CFPB seeks comment on its guidance and implementation support

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The CFPB has issued a request for information that seeks comment on its guidance and implementation support. Comments on the RFI must be received on or before 90 days after the date the RFI is published in the Federal...more

Proskauer - Blockchain and the Law

CFTC Releases Chairman Statement and Backgrounder on Virtual Currencies

The Commodity Futures Trading Commission (CFTC or Commission) Chairman J. Christopher Giancarlo issued a statement this week on virtual currencies. The CFTC also released a backgrounder on its oversight of and approach to...more

Ballard Spahr LLP

CFPB seeks comment on its enforcement processes

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The CFPB has issued a request for information that seeks comment on how the agency can best achieve meaningful burden reduction or other improvement in the processes it uses to enforce federal consumer financial law while...more

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