The Consumer Financial Protection Bureau (CFPB or Bureau) has proposed an unprecedented, far‑reaching rewrite of Regulation B (Reg B) under the Equal Credit Opportunity Act (ECOA). If finalized, the proposed rule would...more
11/13/2025
/ Comment Period ,
Constitutional Challenges ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Creditors ,
Disparate Impact ,
ECOA ,
Executive Orders ,
Fair Lending ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Rules ,
Regulation B ,
Rulemaking Process ,
Special Purpose Credit Programs ,
Statutory Interpretation
This week, the U.S. Department of Justice (DOJ) notified the U.S. District Court for the District of Columbia and the D.C. Circuit in the matter of National Treasury Employees Union v. Vought that the Consumer Financial...more
11/12/2025
/ Appropriations Bill ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement ,
Federal Funding ,
Federal Reserve ,
Government Agencies ,
Regulatory Authority ,
Reporting Requirements ,
Statutory Interpretation ,
Supervision
On November 5, the Federal Reserve Board announced that it had finalized revisions to its Large Financial Institution (LFI) rating system and the Insurance Supervisory Framework that change when a firm is considered “well...more
11/10/2025
/ Bank Holding Company Act ,
Banking Regulators ,
Banking Sector ,
Capital Requirements ,
Enforcement Actions ,
Federal Reserve ,
Final Rules ,
Financial Institutions ,
Insurance Industry ,
Insurance Regulations ,
Large Financial Institutions (LFIs) ,
Liquidity ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management
At The Clearing House Annual Conference, Comptroller of the Currency Jonathan Gould outlined an agency-wide strategy to defend and promote federal preemption across the banking system. As reported by Law360, he emphasized...more
On October 29, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its rule requiring nonbank entities to register certain agency and court orders with the Bureau. This decision follows a proposal...more
11/3/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Nonbank Firms ,
Regulatory Burden ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
On October 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a new interpretive rule replacing its 2022 interpretive rule (withdrawn in May 2025) concerning the scope of preemption under the Fair Credit...more
10/29/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Reports ,
Executive Orders ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Interpretive Rule ,
New Guidance ,
Preemption ,
Regulatory Reform ,
Regulatory Requirements ,
Statutory Interpretation
In a recent decision, the Superior Court of New Jersey, Appellate Division, upheld the dismissal of a class action lawsuit filed against First National Collection Bureau, Inc. (FNCB). In an unpublished opinion, the court...more
10/24/2025
/ Appeals ,
Class Action ,
Debt Collection ,
Debt Collectors ,
FDCPA ,
Financial Services Industry ,
Motion to Dismiss ,
Putative Class Actions ,
Statutory Interpretation ,
Statutory Violations ,
Third-Party ,
Vendors
On August 29, the Federal Deposit Insurance Corporation (FDIC) announced updates to its Consumer Compliance Examination Manual, marking a pivotal shift in how potential discrimination under the Equal Credit Opportunity Act...more
9/4/2025
/ Banks ,
Consumer Financial Products ,
Disparate Impact ,
Disparate Treatment ,
ECOA ,
Executive Orders ,
Fair Housing Act (FHA) ,
Fair Lending ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Government Agencies ,
Regulatory Reform ,
Trump Administration ,
Unfair or Deceptive Trade Practices
On August 15, Illinois Governor JB Pritzker approved Public Act 104-0383. This legislation, effective immediately, amends the Student Loan Servicing Rights Act and introduces Article 7, focusing on Educational Income Share...more
8/29/2025
/ Consumer Financial Products ,
Consumer Lenders ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Illinois ,
Income Share Agreements ,
New Legislation ,
Regulatory Oversight ,
Regulatory Requirements ,
Student Loans
The Consumer Financial Protection Bureau (CFPB or Bureau) is taking a significant step to modify its supervisory approach to nonbanks by publishing a proposed rule advancing a more stringent definition of “risks to consumers”...more
8/29/2025
/ Comment Period ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Non-Bank Lenders ,
Non-Depository Institutions ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform ,
Risk Management ,
Rulemaking Process ,
Statutory Interpretation ,
Supervision ,
Supervisory Guidance
On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the...more
8/22/2025
/ Automotive Industry ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Bureaus ,
Debt Collectors ,
Financial Regulatory Reform ,
Financial Services Industry ,
Money Transfer ,
Non-Bank Lenders ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Regulatory Oversight ,
Remittance Transfer Rule
On August 15, the U.S. Court of Appeals for the District of Columbia issued a decision in the case of National Treasury Employees Union (NTEU) v. Consumer Financial Protection Bureau (CFPB or Bureau). The appellate court...more
8/18/2025
/ Administrative Procedure Act ,
Appeals ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Government Agencies ,
Hiring & Firing ,
Jurisdiction ,
Preliminary Injunctions ,
Regulatory Violations ,
Statutory Interpretation ,
Title X ,
Trump Administration ,
Unions ,
Vacated
On July 24, Oregon Governor Tina Kotek signed House Bill 3865 (HB 3865) into law, introducing significant changes to the regulation of telephone solicitations within the state. This new legislation narrows the permissible...more
8/1/2025
/ Consumer Privacy Rights ,
Debt Collectors ,
Financial Services Industry ,
New Legislation ,
Opt-Outs ,
Regulatory Reform ,
Robocalling ,
State and Local Government ,
State Privacy Laws ,
Telecommunications ,
Telemarketing ,
Telephone Privacy Protection Acts ,
Text Messages ,
Unsolicited Phone Calls
Yesterday, the New York City Department of Consumer and Worker Protection (NYC DCWP) announced another delay in the effective date of its amended debt collection rules. This marks the second postponement. As discussed here,...more
On July 14, the Federal Trade Commission (FTC) secured a court order aimed at halting allegedly deceptive practices against seven companies and three individuals operating the “Accelerated Debt” program. The defendants...more
7/28/2025
/ Debt ,
Debt Collection ,
Debt-Relief Industry ,
Elder Abuse ,
Enforcement Actions ,
Excessive Fees ,
Fair Credit Reporting Act (FCRA) ,
Federal Trade Commission (FTC) ,
Fraud ,
Retirement ,
Scams ,
Telemarketing ,
Unfair or Deceptive Trade Practices
On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial...more
7/22/2025
/ ATMs ,
California ,
Consent Order ,
Cryptocurrency ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Disclosure Requirements ,
Enforcement Actions ,
Financial Services Industry ,
Regulatory Requirements ,
Regulatory Violations
On July 14, the Office of the Comptroller of the Currency (OCC) issued Bulletin 2025-16, announcing the removal of references to disparate impact liability from the “Fair Lending” booklet of the Comptroller’s Handbook and...more
7/16/2025
/ Anti-Discrimination Policies ,
Banks ,
Borrowers ,
Consumer Financial Products ,
Deregulation ,
Discriminatory Lending Practices ,
Disparate Impact ,
Equal Access to Credit ,
Executive Orders ,
Fair Lending ,
Financial Regulatory Reform ,
Financial Services Industry ,
Handbooks ,
Lenders ,
OCC ,
Regulatory Authority ,
Regulatory Requirements ,
Trump Administration
n June 23, the Consumer Financial Protection Bureau (CFPB or Bureau) released an update to its 2015 report on Americans who did not have a credit record (credit invisibles) or who had insufficient credit history to have a...more
7/3/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Credit Reports ,
Credit Scores ,
Data Collection ,
Debt ,
Equal Access to Credit ,
Loans ,
Regulatory Reform ,
Student Loans
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published a policy statement in the Federal Register outlining its approach to addressing criminally liable regulatory offenses. This publication comes in...more
6/27/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Deregulation ,
Enforcement Actions ,
Enforcement Priorities ,
Executive Orders ,
Financial Crimes ,
Financial Regulatory Reform ,
Penalties ,
Regulatory Agenda ,
Regulatory Reform ,
Reporting Requirements ,
Trump Administration ,
White Collar Crimes
On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather...more
6/26/2025
/ Bankruptcy Code ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Financial Protection Bureau (CFPB) ,
Conversion ,
Depository Institutions ,
Enforcement Actions ,
Financial Institutions ,
FinTech ,
Investment Funds ,
Unfair or Deceptive Trade Practices
In a significant ruling, the U.S. Supreme Court delivered its 6-3 opinion in McLaughlin Chiropractic Associates, Inc. v. McKesson Corporation, addressing the scope of judicial review under the Hobbs Act. The decision marks a...more
6/23/2025
/ Administrative Procedure Act ,
Appeals ,
Class Action ,
Enforcement Actions ,
FCC ,
Hobbs Act ,
Judicial Review ,
Jurisdiction ,
McKesson Technologies ,
McLaughlin Chiropractic Associates Inc v McKesson Corporation ,
SCOTUS ,
Statutory Interpretation ,
TCPA ,
Telecommunications ,
Unsolicited Faxes
The Consumer Financial Protection Bureau (CFPB or Bureau) published in the Federal Register an interim final rule extending compliance dates for its 2023 small business lending rule under the Equal Credit Opportunity Act...more
6/19/2025
/ Compliance Dates ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
ECOA ,
Filing Deadlines ,
Final Rules ,
Financial Institutions ,
Interim Final Rules (IFR) ,
Minority-Owned Businesses ,
Regulation B ,
Reporting Requirements ,
Rulemaking Process ,
Section 1071 ,
Small Business Loans ,
Women-Owned Businesses
On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. to vacate the Stipulated Final...more
6/17/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
ECOA ,
Enforcement Actions ,
Financial Services Industry ,
First Amendment ,
Judicial Authority ,
Mortgage Lenders ,
Redlining ,
Regulation B ,
Settlement ,
Trump Administration ,
Vacated
On May 22, Illinois House Bill 3352 passed the Illinois legislature and now awaits Governor JB Pritzker’s signature. This bill amends the Illinois Collection Agency Act to provide an individual a way to avoid liability for a...more
6/12/2025
/ Coercion ,
Consumer Privacy Rights ,
Damages ,
Debt ,
Debt Collection ,
Financial Regulatory Reform ,
Financial Services Industry ,
Fraud ,
Government Agencies ,
Illinois ,
New Legislation ,
Penalties ,
State and Local Government ,
Statutory Violations
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to...more
6/10/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Dodd-Frank ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
OMB ,
Proposed Rules ,
Regulation X ,
Regulation Z ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform