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Unfair or Deceptive Trade Practices Enforcement Actions Financial Regulatory Reform

Holland & Knight LLP

CFPB Seeks Dismissal of Pending UDAAP Examination Manual Litigation

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The CFPB on April 30, 2025, filed a joint stipulation to dismiss its appeal pending before the U.S. Court of Appeals for the Fifth Circuit regarding an agency policy that expands the scope of antidiscrimination oversight....more

Ballard Spahr LLP

Disparate Impact Executive Order and HUD to Reconsider Disparate Impact Rule

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President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD)...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 5

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Cooley LLP

New York Legislature Aims to Fill Federal Consumer Protection Void

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On March 13, 2025, New York legislators introduced a bill backed by New York Attorney General Letitia James to expand the state’s current consumer protection law to cover “unfair” and “abusive” practices, and not just...more

Ballard Spahr LLP

As Trump Administration rolls back CFPB’s work, New York wants to fill the void

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As the Trump Administration attempts to drastically cut CFPB funding and staffing, New York regulators and legislators are attempting to fill what could be a void in consumer protection efforts....more

Orrick, Herrington & Sutcliffe LLP

The Continued State Enforcement of Federal Financial Regulatory Laws

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

Hudson Cook, LLP

Expect To Feel Aftershocks Of Chopra's CFPB Shake-Up

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The future of the Consumer Financial Protection Bureau — and federal enforcement of consumer financial laws more generally — is uncertain. The Trump administration has ordered the CFPB to freeze all enforcement activity,...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

Shipkevich PLLC

Rapid Changes at the CFPB: Speculation, Uncertainty, and the Future of Consumer Protection

Shipkevich PLLC on

The Consumer Financial Protection Bureau (CFPB) has been a focal point for both regulatory oversight and political debate arguably since its inception. Created in 2010 as a response to the financial crisis, the CFPB is still...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....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

Trump Administration Expected to Roll Back Biden-Era UDAP Rules

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UDAP has been controversial in the US in the past couple of years. Now that we have a new president and a new Congress, the use of UDAP may change....more

Ballard Spahr LLP

Populus files motion to dismiss CFPB enforcement action based on fact that CFPB has been unlawfully funded by Fed when it had no...

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We have previously blogged about an enforcement action brought on July 12, 2022 by the CFPB against Populus Financial Group, Inc., d/b/a ACE Cash Express, Inc. in Federal District Court for the Northern District of Texas...more

Troutman Pepper Locke

CFPB Files Lawsuit Against SoLo Funds for Alleged Deceptive Lending Practices

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a complaint against SoLo Funds, Inc., a fintech company operating a small-dollar, short-term lending platform. The CFPB alleges that SoLo Funds...more

Troutman Pepper Locke

CFPB’s Spring Edition of Its Supervisory Highlights Focuses on Consumer Reporting

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released the spring edition of its Supervisory Highlights report, providing a high-level overview of alleged unfair, deceptive, or abusive acts or practices...more

Ballard Spahr LLP

Atlantic Union Bank to pay $6.2M for its unlawful overdraft opt-in practices

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On December 7, 2023, Atlantic Union Bank (the “Bank”) entered into a consent order with the Consumer Financial Protections Bureau (CFPB) related to its in-person and telephone overdraft opt-in sales practices during...more

Sheppard Mullin Richter & Hampton LLP

FDIC Issues Order Against Bank Over Fintech Partnership

On November 21, a Washington-based bank confirmed through a public filing that it entered into a consent order with the FDIC alleging that the bank engaged in unsafe or unsound banking practices, primarily related to products...more

ArentFox Schiff

A Common Thread in 2019 CFPB Enforcement Activity: Denials of Petitions to Set Aside CIDs

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As promised, we return now to provide an overview of the CFPB’s petition activity for the year to-date. In addition to the Bank of America (BofA) petition denial we discussed last month, the CFPB has issued a series of...more

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