News & Analysis as of

Administrative Procedure Act Financial Regulatory Reform Regulatory Requirements

Katten Muchin Rosenman LLP

The CFPB Shuts Down Controversial "Regulation Through Guidance" Practices

The acting head of the Consumer Financial Protection Bureau (CFPB) continues to winnow out regulatory tools used by agency staff under the prior administration. Just a month after revoking certain interpretative rules and...more

Troutman Pepper Locke

CFPB Abandons Credit Card Late Fee Rule

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) agreed to vacate its controversial credit card late fee rule in a joint motion for entry of consent judgment filed in Chamber of Commerce of the United States of...more

Ballard Spahr LLP

Financial Services Committee Republicans call on CFPB to withdraw rules, guidance

Ballard Spahr LLP on

Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules....more

Ballard Spahr LLP

CFPB plans to revoke BNPL interpretive rule

Ballard Spahr LLP on

The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA...more

Cozen O'Connor

Democratic AGs File Amicus Brief Supporting CFPB Funding

Cozen O'Connor on

A group of 23 Democratic AGs filed an amicus brief supporting a motion for a preliminary injunction seeking to prevent the CFPB’s Acting Director from declining to draw additional funds on behalf of the agency....more

Orrick, Herrington & Sutcliffe LLP

Baltimore government files to challenge the CFPB’s funding decisions, Vought delays budget cuts

On February 12, a complaint was filed in the U.S. District Court for the District of Maryland against the CFPB and its Acting Director, Russell Vought. The plaintiffs — which include the Mayor and City Council of Baltimore,...more

Troutman Pepper Locke

Texas Federal Court Orders CFPB to File Status Report Following Leadership Change

Troutman Pepper Locke on

Today, the U.S. District Court for the Northern District of Texas issued an order in Chamber of Commerce of the United States of America v. Consumer Financial Protection Bureau (CFPB or Bureau) in light of recent changes...more

Mayer Brown

New Action on No-Action Letters – CFPB Begins Accepting Applications Under Updated No-Action Letter Procedures

Mayer Brown on

The US Consumer Financial Protection Bureau (CFPB) is giving no-action letters (NALs) a second chance. On January 8, 2025, the CFPB issued a policy statement setting forth new procedures for companies to request supervisory...more

Troutman Pepper Locke

IRS Finalizes New Rules for DeFi Brokers: Challenge Immediately Filed in Texas Federal Court

Troutman Pepper Locke on

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) released final regulations that significantly impact the reporting requirements for brokers involved in digital asset transactions. The stated aim of...more

Ballard Spahr LLP

Minnesota federal court dismisses lawsuit against FDIC over NSF fee guidance

Ballard Spahr LLP on

On April 8, 2024, a Minnesota federal district court dismissed without prejudice the complaint filed by the Minnesota Bankers Association and Lake Central Bank (Plaintiffs) against the Federal Deposit Insurance Corporation...more

Ballard Spahr LLP

SCOTUS to Determine When Clock Starts under APA’s Statute of Limitations

Ballard Spahr LLP on

Last Friday, the U.S. Supreme Court agreed to decide when a right of action first accrues for an Administrative Procedure Act (APA) challenge to a final rule issued by a federal agency—when the final rule is issued or when...more

Troutman Pepper Locke

Supreme Court to Decide Commencement of APA Statute of Limitations Period in Debit Card Fee Challenge

Troutman Pepper Locke on

The U.S. Supreme Court has granted the petition for certiorari in Corner Post, Inc. v. Board of Governors of the Federal Reserve System (Board), a case where Corner Post challenges a 2011 Board rule that governs certain fees...more

12 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide