News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Motion To Stay

Ballard Spahr LLP

CFPB Releases Updated 1071 Filing Instructions Guide

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On August 16, 2024 the CFPB issued an updated 2025 Small Business Lending Filing Instructions Guide (the “Guide”). The Guide provides updated compliance dates that correspond to the new compliance dates....more

Ballard Spahr LLP

Kentucky Court Grants a Stay of Case Pending a Decision in the Texas Small Business Lending Lawsuit

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On August 7, 2024, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay the small business lending rule litigation before the court until resolution of the similar case pending in the...more

Orrick, Herrington & Sutcliffe LLP

District Court grants payday lender's motion to stay CFPB case pending Supreme Court decision

On November 3, the U.S. District Court of Nevada granted a payday lender’s motion to stay a case brought by the CFPB, pending a SCOTUS’s decision in Community Financial Services Association of America v. Consumer Financial...more

Troutman Pepper

Several Trade Associations Join Calls to CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 18, the American Financial Services Association, Consumer Bankers Association, CRE Finance Council, Equipment Leasing and Finance Association, Mortgage Bankers Association, National Association of Federally-Insured...more

Ballard Spahr LLP

Texas federal court denies trade groups’ motion to extend stay of payment provisions compliance date until appeal resolved; trade...

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The Texas federal district court has denied the motion of the two trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule for an extension of its stay of the...more

Ballard Spahr LLP

Ninth Circuit stays mandate in Seila Law

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The Ninth Circuit has granted Seila Law’s motion for a stay of the mandate pending its filing of a petition for a writ of certiorari in the U.S. Supreme Court....more

Ballard Spahr LLP

Seila Law to seek U.S. Supreme Court review of Ninth Circuit ruling that CFPB’s structure is constitutional

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Appellant Seila Law has filed a motion for a stay of the Ninth Circuit’s mandate in its decision ruling that the CFPB’s single-director-removable-only-for-cause structure is constitutional pending the filing by Seila Law of a...more

Ballard Spahr LLP

Consumer advocacy groups ask to participate as amicus to oppose stay of CFPB payday loan rule compliance date

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Four consumer advocacy groups have filed a motion seeking leave to file an amicus memorandum opposing the joint motion filed by the CFPB and two trade groups that seeks a stay of the compliance date for the CFPB’s final...more

Ballard Spahr LLP

CFPB and trade groups jointly seek stay of lawsuit challenging CFPB payday loan rule and compliance date

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The CFPB and the two trade groups that filed a lawsuit in April 2018 in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) have filed a joint motion...more

Dorsey & Whitney LLP

Law Firm Attempts to Resist Subpoena by Arguing CFPB is Unconstitutional

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In the wake of last year’s (now-vacated and pending review en banc) decision by the D.C. Circuit in PHH Corp. v. Consumer Fin. Prot. Bureau, 839 F.3d 1 (D.C. Cir. 2016), the constitutionality of the Consumer Financial...more

Foley & Lardner LLP

Business Groups File Federal Lawsuit to Challenge CFPB Arbitration Rule

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On September 29, 2017, the U.S. Chamber of Commerce, the Texas Association of Business, and various other national and Texas statewide business organizations and trade groups (together, Plaintiffs) filed a federal lawsuit in...more

Ballard Spahr LLP

Finance Industry Files Lawsuit to Overturn CFPB Arbitration Rule

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The U.S. Chamber of Commerce, American Bankers Association, the Consumer Bankers Association, Financial Services Roundtable, American Financial Services Association, Texas Association of Business, Texas Bankers Association,...more

Dorsey & Whitney LLP

Texas Federal Judge Upholds CFPB’s Investigative Authority in Denying Stay Pending Appeal of CFPB CID Dispute

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Burgeoning federal enforcement efforts relating to the consumer data and credit reporting industry have led to another key legal development: a federal court in Dallas ruled in favor of the Consumer Financial Protection...more

Burr & Forman

PHH Wins Stay of $109M CFPB Enforcement Penalty

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On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

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