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Consumer Financial Protection Bureau (CFPB) Chevron Deference

Ballard Spahr LLP

‘Very, Very Fuzzy’: Opinion Overruling Chevron Creates Uncertainty for Regulated Industries

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Our recent webinar featured a conversation with noted legal scholars Craig Green, Charles Klein Professor of Law and Government at Temple University Beasley School of Law, and Kent Barnett, recently appointed Dean of the...more

Bradley Arant Boult Cummings LLP

Bradley Comment Letter Highlights Questions Regarding the CFPB’s Statutory Authority to Issue Contemplated Mortgage Servicing...

On July 10, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposal to amend the existing mortgage servicing rules in Regulation X. The substance of the proposal has attracted a lot of attention and...more

Holland & Knight LLP

What's Next for the Regulatory Landscape Post-Chevron?

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For nearly 40 years and in more than 18,000 judicial opinions, federal courts have used the Chevron doctrine to defer to an agency's reasonable interpretation of an ambiguous statute. On June 28, 2024, the U.S. Supreme Court...more

Sheppard Mullin Richter & Hampton LLP

Farewell, Chevron: Navigating Corporate Regulation Under Loper Bright

In Loper Bright Enterprises v. Raimondo, No. 22-451 (U.S. June 28, 2024), the United States Supreme Court (Roberts, J.) held that the Administrative Procedure Act (APA) requires courts to independently determine whether an...more

K&L Gates LLP

Applying Loper Bright, the Seventh Circuit Holds that ECOA Protects Prospective Applicants

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The Seventh Circuit recently issued one of the first appellate decisions to apply the US Supreme Court’s decision in Loper Bright Enterprises v. Raimondo, 144 S. Ct. 2244 (2024). In Loper Bright, the Supreme Court ended...more

Bradley Arant Boult Cummings LLP

Appeals Court Holds ECOA Liability Extends to Prospective Applicants

On July 11, 2024, the United States Court of Appeals for the Seventh Circuit issued its highly anticipated decision in Consumer Financial Protection Bureau v. Townstone Financial, Inc., et al. In this pivotal decision, the...more

Akin Gump Strauss Hauer & Feld LLP

The Top 10 Takeaways for Businesses from the Supreme Court’s Three Big Administrative Law Decisions in 2024

Now that the dust has settled following the Supreme Court’s overhaul of administrative law through three late-term decisions, Akin litigators and policy advisors offer the most significant takeaways for businesses and...more

Balch & Bingham LLP

In Case You Missed It: Will The U.S. Supreme Court’s Jarkesy Decision Be A Game Changer For Administrative Law?

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In “Case” You Missed It is a new column by Balch & Bingham attorney Tripp DeMoss that briefly summarizes a recently issued decision by higher courts like the U.S. Supreme Court and Alabama Supreme Court in cases of interest...more

Cadwalader, Wickersham & Taft LLP

Chevron Isn't Slowing CFPB Down, As They Issue a New Proposed Rule on Mortgage Servicing

On July 24th, the Consumer Financial Protection Bureau (CFPB) issued a new proposed rule “Streamlining Mortgage Servicing for Borrowers Experiencing Payment Difficulties”, with a comment period ending on September 9, 2024....more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 41: Loper Bright, the End of Chevron and the Future of CFPB Rulemaking

In this episode of RegFi, hosts Jerry Buckley and Sasha Leonhardt welcome John Coleman, Orrick partner and former Deputy General Counsel of the CFPB, to discuss the Supreme Court’s Loper Bright decision overturning Chevron...more

Husch Blackwell LLP

Preview of a Post-Chevron World: The Seventh Circuit Upholds Regulation B's Discouragement Prohibition as Consistent with ECOA

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With Loper Bright’s recent death blow to Chevron deference, some commentators have been predicting substantial constriction of the administrative state and the narrowing or limiting of the powers of federal regulators. For...more

Morrison & Foerster LLP

Earned Wage Access Products would be “Credit” under CFPB Proposed Interpretive Rule

On July 18, 2024, the Consumer Financial Protection Bureau (CFPB) issued a proposed interpretive rule on earned wage access (EWA) products (“Proposed Interpretive Rule”) that, if finalized, would clarify that EWA products are...more

Orrick, Herrington & Sutcliffe LLP

House GOP writes to financial regulators on Loper Bright ruling

On July 9 and 10, GOP congressional committee leaders wrote 40 letters to the heads of executive branch agencies to remind them of how Loper Bright has set limits on an agency’s authority. As previously covered by InfoBytes,...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

Ballard Spahr LLP

7th Circuit Holds ECOA Protections Apply to Prospective Applicants

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In a major win for the CFPB, in CFPB v. Townstone Financial, a panel of the U.S. Court of Appeals for the Seventh Circuit (7th Circuit) recently held that the Regulation B provision prohibiting discrimination under the Equal...more

Venable LLP

The Loper Bright Impact: Agency Action Likely to Face More Scrutiny in Light of the Supreme Court’s Disposal of Chevron Deference

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These days, it seems like there are three guarantees in life—death, taxes, and monumental Supreme Court administrative law opinions in the summer. As you’ve probably heard by now, the trend continues this year, including...more

Venable LLP

Cybersecurity Policymaking Post-Chevron

Venable LLP on

On June 28, 2024, the Supreme Court issued its long-awaited decisions in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce. The opinions overturned the long-standing "Chevron doctrine," under which...more

Wilson Sonsini Goodrich & Rosati

"Chevron is overruled": How Loper Bright Will Change the Regulatory Law Landscape

In a decision with far-ranging implications for federal administrative law, the United States Supreme Court issued its long-awaited ruling in Loper Bright Enterprises v. Raimondo (Loper Bright).1 The Supreme Court’s...more

Ballard Spahr LLP

The Supreme Court’s Overruling of Chevron is a Sea Change

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We already have published a short blog about the Supreme Court’s opinion issued on Friday, July 28 in Loper Bright Enterprises et al v. Raimondo, Secretary of Commerce, et al, No. 22-451....more

Troutman Pepper

An In-Depth Analysis of the CFPB's Proposed Overdraft Rule — Payments Pros – The Payments Law Podcast

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In this episode of Payments Pros, Josh McBeain and Chris Willis discuss the Consumer Financial Protection Bureau's (CFPB) proposed rule on overdraft fees. The rule, which only applies to large financial institutions with...more

Troutman Pepper

Overruling Chevron: A Potential Double-Edged Sword for the Financial Services Industry — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis is joined by Partners David Anthony and David Dove to discuss the potential implications of the Supreme Court overruling the Chevron case. This case established...more

Troutman Pepper

An In-Depth Analysis of the CFPB’s Proposed Overdraft Rule - The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis and Josh McBeain discuss the Consumer Financial Protection Bureau’s (CFPB) proposed rule on overdraft fees. The rule, which only applies to large financial...more

McGlinchey Stafford

Chevron Deference is on Thin Ice

McGlinchey Stafford on

On Wednesday, January 17, 2024, the Supreme Court heard oral arguments in Loper Bright Enterprises, Inc. v. Raimondo and Relentless, Inc. v. Dep’t of Commerce, a pair of cases where a majority of the Justices made clear that...more

Ballard Spahr LLP

SCOTUS slated to make lasting impact on consumer financial services industry in 2024

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This New Year is setting up to be a momentous one for the consumer financial services industry in the United States Supreme Court. In 2024, the Supreme Court is expected to decide four impactful cases that may hold that the...more

Ballard Spahr LLP

Oral Arguments Held in CFPB v. Townstone Financial Case

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On December 8, 2023, oral arguments were held before a three judge panel of the U.S. Court of Appeals for the Seventh Circuit in the CFPB v. Townstone Financial case, in which the CFPB alleges that Townstone Financial, a...more

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