News & Analysis as of

Administrative Procedure Act Regulatory Agenda

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2024

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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

Texas Judge Rules CFPB Did Not Exceed Authority in Issuing Small Business Reporting Rule

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In a tentative win for the CFPB, a federal judge in Texas ruled on August 26, 2024, that the agency did not exceed its authority when it issued its final Section 1071 small business lending rule. The court also rejected...more

Ballard Spahr LLP

CFPB files its reply brief in support of the CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 22, 2024, the CFPB filed its reply brief in support of its motion to dissolve the preliminary injunction and lift the stay of the CFPB’s credit card late fee final rule (“Rule”) in the lawsuit challenging the Rule....more

Alston & Bird

The SCO Whiffs on Its First Attempt to Formally Adopt Third-Party Unclaimed Property Auditor Regulations

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Regulations purporting to authorize unclaimed property examinations performed by third-party auditors put on ice. Our Unclaimed Property Team examines an Office of Administrative Law (OAL) ruling that shuts down regulations...more

Ballard Spahr LLP

Plaintiffs file their brief in opposition to CFPB’s motion to dissolve the preliminary injunction in the credit card late fee...

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On August 8, 2024, the plaintiffs filed their brief in opposition to the CFPB’s motion to dissolve the preliminary injunction in the lawsuit challenging the CFPB’s credit card late fee final rule (“Rule”). In their brief, the...more

Foley & Lardner LLP

FDA: The Effects of Loper on the Regulatory Agenda

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The Supreme Court’s decision in June 2024 in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce to overrule the Chevron doctrine has major implications for every administrative agency,...more

Seward & Kissel LLP

5th Circuit District Courts Once Again Thwart the DOL’s Fiduciary Advice Regulatory Agenda

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The effective dates of the Department of Labor’s new 2024 fiduciary advice rule (the “2024 Fiduciary Rule”) and the amendments to Prohibited Transaction Exemptions 84-24, 75-1, 77-4, 80-83, 83-1, 86-128, and 2020-02 (the...more

Ballard Spahr LLP

Demise of Chevron Deference Sends Shockwaves Through Labor and Employment Regulatory Landscape

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In just a month since the U.S. Supreme Court overturned the Chevron Deference Doctrine, district courts across the country have blocked several federal agency rules, including an injunction in Texas barring enforcement of the...more

Polsinelli

The Chevron Doctrine: Part II—Congress’s Reaction to the Repeal and the Legislative Process

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On June 28th, in Loper Bright Enterprises v. Raimondo, the U.S. Supreme Court overturned the Chevron Doctrine. The 6-3 decision was anticipated. But its breadth marks the Court’s opinion as a modern-day Marbury v. Madison....more

Ballard Spahr LLP

CFPB Refiles its Notice of Supplemental Authority in Support of its Motion to Transfer Venue under Section 1406(a) and Motion and...

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On July 18, 2024, in the lawsuit challenging the CFPB’s credit card late fee rule (Rule), the CFPB refiled its notice of supplemental authority in support of its motion to dismiss or transfer the case, motion to dissolve the...more

ArentFox Schiff

Can a ‘Tsunami’ Wash Away a Sea Change? Recent Supreme Court Administrative Decisions and Environmental Regulation

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Discussion of administrative law usually doesn’t happen at the dinner table. But a series of recent US Supreme Court decisions may have changed this introducing talk of the Administrative Procedure Act (APA) and the...more

Foley & Lardner LLP

The End of Chevron Deference and the Implications for the SEC

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On June 28, 2024, the U.S. Supreme Court issued its decision in Loper Bright Enterprises v. Raimondo and Relentless Inc. v. Department of Commerce[1], overruling the Chevron doctrine. This holding overturns the decades-long...more

Best Best & Krieger LLP

U.S. Supreme Court Expands Window to Challenge Agency Rules

On July 1, 2024, the Court issued a 6-3 ruling in Corner Post v. Board of Governors of the Federal Reserve System holding that an Administrative Procedures Act (APA) claim does not accrue for the purposes of §2401(a) – the...more

McDermott Will & Emery

US Supreme Court Overturns Chevron Deference

In Loper Bright Enterprises v. Raimondo, the US Supreme Court expressly overruled the doctrine of deferring to an agency’s interpretation of allegedly ambiguous statutory language initially articulated in Chevron U.S.A. Inc....more

DirectEmployers Association

OFCCP Week In Review: May 2024 #2

Monday, April 13, 2024: Contractors Have Second Opportunity to Comment on OFCCP’s Supply & Service Contractor Portal Information Collection - OFCCP published in the Federal Register Notice of a 30-day public comment period...more

McDermott+

Potential Election Year Shakeup: Regulatory Implications of the Congressional Review Act

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With the federal elections looming later this year, it’s time once again to review the Congressional Review Act (CRA) and how it might impact the current administration’s regulatory agenda. HOW THE CRA WORKS - The CRA...more

Maynard Nexsen

FAR Council Publishes its Semiannual Regulatory Agenda

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On February 9, 2024, the Federal Acquisition Regulatory Council ("FAR Council") – Department of Defense, General Services Administration, and National Aeronautics and Space Administration – published its Semiannual Regulatory...more

Ballard Spahr LLP

Trade groups file lawsuit in Texas federal court challenging final OCC/FDIC/Federal Reserve Community Reinvestment Act rules

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Several national and Texas banking and business trade groups have filed a lawsuit in the U.S. District Court for the Northern District of Texas challenging the final regulations (Final Rules) implementing the Community...more

TNG Consulting

Title IX Regs Watch: Do We All Need to Learn How to Pronounce Sine Die?

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If you’re a Latin pedant, you’ll want to use the traditional ‘see-nay de-ay,’ but the common American English pronunciation used in legislative machinations is ‘sigh-neh dye.’ Perhaps it ought to be “sign or die” to be more...more

Troutman Pepper

Sales-Based Financing Trade Group Files Suit Challenging CFPB’s Section 1071 Rule

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Late last month, the Revenue Based Finance Coalition (RBFC), a trade group of sales-based financing providers, filed a complaint in the U.S. District Court for the Southern District of Florida challenging the Consumer...more

Ballard Spahr LLP

SCOTUS to hear oral argument on February 20 to determine timing for facial challenges to federal regulations

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The U.S. Supreme Court has scheduled oral argument for Tuesday, February 20, 2024 in Corner Post, Inc. v Board of Governors of the Federal Reserve System. The question that the Supreme Court will decide is when a right of...more

Troutman Pepper

SEC Postpones Effective Date of Share Repurchase Disclosure Modernization Rule

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On November 22, the Securities and Exchange Commission (SEC) issued an order postponing the Share Repurchase Disclosure Modernization Rule (the Repurchase Rule). The SEC’s announcement follows the U.S. Court of Appeals for...more

Jones Day

SEC Reopens Comment Period for Rule Proposing New Disclosures for Security-Based Swaps

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The Situation: The Securities and Exchange Commission ("SEC") has reopened the comment period for its proposed rule requiring public disclosure of security-based swap ("SBS") positions that exceed certain thresholds....more

McDermott+

Implementation of the No Surprises Act Is Full of Surprises: What We Do and Don’t Know

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It’s likely no surprise to anyone who has been following the implementation of the No Surprises Act over the last couple of years that we again find ourselves on an uncertain path. While Regs & Eggs has focused on some of the...more

Ballard Spahr LLP

AFSA asks House Appropriations Committee to block proposed FTC Motor Vehicle Dealers Trade Regulation Rule

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On June 21, 2023, the American Financial Services Association (“AFSA”) asked the House Appropriations Committee to include language in the Financial Services and General Government appropriations bill that would prevent the...more

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