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Regulatory Reform › Unfair or Deceptive Trade Practices › Consumer Financial Products

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Dozens of Guidance Documents as Part of Deregulatory Push

Sheppard Mullin Richter & Hampton LLP on

On May 12, the CFPB formally withdrew nearly 70 guidance materials—including policy statements, advisory opinions, circulars, and interpretive rules—through a Federal Register notice issued by Acting Director Russell...more

Troutman Pepper Locke

Fifth Circuit Agrees to Dismiss CFPB’s UDAAP Examination Manual Appeal, Aligning with Bureau’s New Regulatory Priorities

Troutman Pepper Locke on

On May 1, the U.S. Court of Appeals for the Fifth Circuit dismissed the Consumer Financial Protection Bureau’s (CFPB or Bureau) appeal concerning the vacated amendments to its Unfair, Deceptive, or Abusive Acts and Practices...more

Venable LLP

New York Seeks to Beef up Consumer Protection Framework

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New York attorney general Leticia James is the latest state-level actor to respond to the Trump administration’s efforts to shrink federal consumer protection agencies. James has championed the FAIR Business Practices Act, a...more

Ballard Spahr LLP

CFPB inaction harming state consumer protection efforts, Democratic AGs allege in amicus brief

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The Trump Administration’s efforts to “effectively shutter the CFPB” amounts to a “total dereliction of all mandatory statutory duties,” that will harm state consumer protection efforts, Democratic state attorneys general...more

Orrick, Herrington & Sutcliffe LLP

The Continued State Enforcement of Federal Financial Regulatory Laws

Orrick, Herrington & Sutcliffe LLP on

Over the past four years, the Consumer Financial Protection Bureau has sought to strengthen state and local governments’ enforcement of consumer protection laws. The CFPB has engaged in numerous coordinated federal-state...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Roadmap For States to Continue Regulatory Activity

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The Consumer Financial Protection Bureau (CFPB) released a comprehensive report today, outlining detailed recommendations to strengthen state-level consumer protection laws and address modern risks in consumer financial...more

Ballard Spahr LLP

FTC Issues Final Rule to Fight Fake Product Reviews

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The Federal Trade Commission on August 14 announced a final trade regulation rule intended to fight fake reviews and testimonials by prohibiting their purchase or sale and by allowing the agency to seek civil penalties...more

Ballard Spahr LLP

FTC requests comment on consumer advocate petition regarding auto “yo-yo financing”

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On May 31, 2023, the Federal Trade Commission (“FTC”) requested public comment on a petition for rulemaking it received from six national consumer advocate groups regarding “yo-yo sales,” a term the groups use to refer to...more

Cadwalader, Wickersham & Taft LLP

A Call to Arms: CFPB Encourages States to Use Federal Authorities to Bring Enforcement Actions

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The Consumer Financial Protection Bureau ("CFPB") issued an interpretive rule on May 19, reiterating the authority that states have to pursue companies and individuals that violate federal consumer financial protection laws,...more

Ballard Spahr LLP

CA and NY governors propose expansion of state consumer financial protection regimes

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The governors of California and New York have both proposed to expand the authority of their respective state’s consumer financial services regulator.  Both governors have framed their proposals as a response to what they...more

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