CFPB

The Consumer Financial Protection Bureau moved for dismissal regarding multiple claims cited in a lawsuit challenging the legality of its final rule prohibiting medical debt information from being considered in credit decisions. Read on »

In the agency’s latest announcement regarding its enforcement and supervisory priorities, the Consumer Financial Protection Bureau said it will not prioritize oversight of “Buy Now, Pay Later” (BNPL) loan providers. The bureau also is considering further action related to its new policy position on BNPL products. Read on »

As part of the ongoing budget reconciliation process in Congress, the House Financial Services Committee voted along party lines to approve a resolution to greatly reduce funding for the Consumer Financial Protection Bureau and to no longer allow the bureau to retain unspent funds in its civil penalty fund from year-to-year. Read on »

The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions with respect to its small business lending rule. The bureau framed the move as a measure of fairness toward companies not covered by a court-imposed stay on the rule’s compliance deadlines. Read on »

The D.C. Circuit Court of Appeals directed the Consumer Financial Protection Bureau on April 28 to continue to hold off implementation of a sweeping reduction in force (RIF) order, pending a ruling on the Trump administration’s appeal of a preliminary injunction resulting from a lawsuit filed by the National Treasury Employees Union in March over the RIF. Read on »

The Consumer Financial Protection Bureau dropped its appeal in a case in which PayPal Holdings, Inc., challenged a 2019 rule extending fee disclosure requirements for prepaid card products to digital wallets as well. Read on »

The Consumer Financial Protection Bureau announced the latest in a string of dropped court cases under the Trump administration with its decision to voluntarily dismiss a lawsuit against the holding company for Horizon Card Services and its CEO, alleging deceptive marketing strategies targeting low-income Americans. Read on »

Another chapter was written in the ongoing legal saga concerning the embattled Consumer Financial Protection Bureau last week. Shortly after a federal court partially lifted a court order preventing mass firings at the bureau, the Trump administration resumed its plans to gut the agency, prompting the courts to intervene again. Read on »

The D.C. Circuit Court of Appeals stayed portions of a preliminary injunction imposed by a district court last month to halt actions aimed at dismantling the Consumer Financial Protection Bureau (CFPB). The appeals court ruled the bureau must maintain adequate resources to perform its statutory duties. Read on »

A federal court vacated the Consumer Financial Protection Bureau’s final rule regulating credit card late fees, drawing praise from the financial services industry. The credit card late fee rule would have capped the safe harbor dollar amount for late fees at $8. Read on »