New Jersey Attorney General Matthew Platkin and the Division on Civil Rights issued a finding of probable cause against a same-day lender alleging the business refused to lend to prospective clients based on race, national origin and nationality.

The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions pursuant to its regulation requiring nonbank financial institutions caught violating the law to register with the bureau.

The House passed its budget resolution, setting the stage for Congress to begin its reconciliation process, which is expected to include discussions about extending the 2017 Tax Cuts and Jobs Act cuts while implementing additional cuts, reducing spending, and raising the debt ceiling.

The U.S House passed two measures nullifying rules finalized by the Consumer Financial Protection Bureau under the Biden-Harris administration with strong support from Republicans. The resolutions of disapproval targeted the bureau’s rule capping overdraft fees and its larger participant rule, applying to large digital payment providers.

The Government Accountability Office published a list of recommendations for how three federal agencies tasked with identifying and preventing scammers from harming consumers, companies and national security can better collaborate to accomplish certain shared objectives.

With federal regulatory agencies undergoing seismic shifts in leadership and priorities, state attorneys general are ramping up supervisory and enforcement activities with respect to consumer financial protection laws. Ballard Spahr has assembled a team to help financial institutions chart a course through increasingly complex state-level regulatory waters.

As the Consumer Financial Protection Bureau prepares to rethink its final rule implementing small business lending requirements detailed in Sec. 1071 of the Dodd-Frank Act, community banking advocates expressed support for bills requiring the bureau to delete information collected about loan applicants for the sake of privacy.

The Office of the Comptroller of the Currency disclosed a data breach potentially exposing sensitive information about financial institutions in a report to Congress. The federal banking regulator said the breach stemmed from unauthorized access via “compromised email messages.”

The House passed a resolution nullifying the Consumer Financial Protection Bureau’s (CFPB) final rule imposing a cap on overdraft fees charged by depository institutions. The 217-211 vote to repeal the controversial rule that would limit the maximum fee consumers could be charged for a single overdraft.