News & Analysis as of

Consumer Financial Protection Act (CFPA) Consumer Protection Laws

Sheppard Mullin Richter & Hampton LLP

Senator Warren Presses CFPB to Use Existing Authorities to Address Credit Card Costs

On January 23, the U.S. Senate Committee on Banking, Housing, and Urban Affairs announced that Senator Elizabeth Warren sent a letter to CFPB Acting Director Russell Vought, urging the Bureau to take more aggressive action to...more

Hinshaw & Culbertson - Consumer Crossroads

Governor Hochul Signs New York FAIR Business Practices Act, Greatly Enhancing Attorney General Enforcement Authority

On December 19, 2025, approximately six months after its approval by the New York State Legislature, Governor Kathy Hochul signed the Fostering Affordability and Integrity Through Reasonable Business Practices Act (the “FAIR...more

Hinshaw & Culbertson - Consumer Crossroads

Lenders Should Approach the Recent CFPB–MoneyLion Military Lending Act Settlement With Caution

On November 24, 2025, the court in CFPB v. MoneyLion Technologies, No. 1:22-cv-08308 (SDNY) entered a stipulated final judgment and order that settled the Consumer Financial Protection Bureau’s (“CFPB” or “Bureau”)...more

Troutman Pepper Locke

Blue-State AGs Tap Rohit Chopra to Lead Consumer Protection Working Group

Troutman Pepper Locke on

As reported by Bloomberg, the Democratic Attorneys General Association (DAGA) has hired Rohit Chopra, former Director of the Consumer Financial Protection Bureau (CFPB or Bureau), to lead a new Consumer Protection and...more

Troutman Pepper Locke

CFPB’s Proposed Reg B Overhaul: Ending ECOA Disparate Impact, Narrowing Discouragement, and Reshaping SPCPs

Troutman Pepper Locke on

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

Holland & Knight LLP

CFPB Rescinds Amendments to Supervisory Designation Proceedings

Holland & Knight LLP on

The CFPB on Sept. 25, 2025, issued a final rule to rescind amendments it previously adopted to the Procedures for Supervisory Designation Proceedings, "with the exception of some limited process adjustments."...more

Bradley Arant Boult Cummings LLP

CFPB Focuses on “Serious Conduct” with Proposed Limits on Nonbank Supervision

On August 26, 2025, the Consumer Financial Protection Bureau (CFPB or the Bureau) published a proposed rule that would narrow its supervisory authority over nonbanks. Under the proposed rule, the CFPB plans to exercise...more

Sheppard Mullin Richter & Hampton LLP

CFPB Secures Permanent Ban on Fintech Service Provider for Alleged Unfair Practices

On August 21, the CFPB filed a complaint and stipulated final judgment in the U.S. Bankruptcy Court for the Central District of California against a fintech service provider in Chapter 11 proceedings. The Bureau alleged...more

Mayer Brown

Potential for Increased State Consumer Finance Enforcement

Mayer Brown on

A decrease in Consumer Financial Protection Bureau (“CFPB”) enforcement actions may motivate state regulators to fill the enforcement void. We have not seen a dramatic increase in state actions to date, but it will...more

Orrick, Herrington & Sutcliffe LLP

CFPB scraps rule allowing states to enforce the CFPA without notice

On July 21, the CFPB published a notice in the Federal Register withdrawing its direct final rule that would have rescinded procedures requiring state officials to notify the Bureau when taking action to enforce the CFPA. As...more

White & Case LLP

New York Poised to Significantly Expand Consumer Protection Law and Adopt Federal Unfair and Abusive Standards

White & Case LLP on

In the wake of the federal government's pullback on consumer protection regulation and enforcement, the New York Legislature has passed an expansive overhaul of its principal consumer protection law. The Fostering...more

Goodwin

NY Attorney General Announces $250,000 Settlement with Money Transfer Provider

Goodwin on

On June 16, 2025, the New York Attorney General announced it had entered into a stipulated final judgment to settle its suit against ​a non-bank money transfer provider over alleged violations of federal and state consumer...more

Orrick, Herrington & Sutcliffe LLP

New York attorney general obtains $250K in CFPB’s dropped case

On June 16, the New York attorney general settled a civil action against a remittance provider in a case dropped by the CFPB earlier this year, which as previously covered by InfoBytes, left the State of New York as the sole...more

WilmerHale

New York Legislature Passes FAIR Business Practices Act

WilmerHale on

As federal consumer protection enforcement has recently taken a sharp turn towards less regulation and enforcement, states continue efforts to fill the gap left by the federal pullback. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes to Eliminate Education Allocations from Civil Penalty Fund

On June 18, the CFPB published a proposed rule that would rescind its authority to use money from the Civil Penalty Fund for consumer education and financial literacy initiatives. The proposed changes would amend the CFPB’s...more

Sheppard Mullin Richter & Hampton LLP

New York AG Secures $250,000 Settlement With Money Transmitter Over Remittance Rule Violations

On June 13, Judge Katherine Polk Failla of the U.S. District Court for the Southern District of New York entered a stipulated final judgement resolving claims brought by the New York Attorney General against a global money...more

Sheppard Mullin Richter & Hampton LLP

CFPB Drops Lawsuit Against Lease-to-Own Fintech Following Adverse Credit Ruling

On May 27, the CFPB filed a notice of dismissal with prejudice in its lawsuit against a lease-to-own fintech provider. The lawsuit, filed in July 2023, alleged that the company’s rental-purchase agreements violated several...more

Holland & Knight LLP

CFPB Publishes Additional Proposals to Rescind "Unnecessary" Rules and Regulations

Holland & Knight LLP on

The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more

Cooley LLP

Trump CFPB Asserts Narrower Role for State Enforcement of Federal Consumer Law

Cooley LLP on

On May 15, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that rescinded a May 2022 interpretive rule regarding the extent of states’ enforcement authority under Section 1042 of the Consumer...more

McGuireWoods LLP

States May Not Obtain Civil Money Penalties Under the Consumer Financial Protection Act

McGuireWoods LLP on

There has been much speculation that States will fill the void created by the Trump Administration’s drastic scaling back of the Consumer Financial Protection Bureau. Congress authorized both state attorneys general and state...more

Goodwin

CFPB Dismisses Deposit Account Lawsuit Against National Retailer and Fintech Company

Goodwin on

The Consumer Financial Protection Bureau voluntarily dismissed its lawsuit with prejudice against a major retailer and a fintech company in the District of Minnesota....more

Orrick, Herrington & Sutcliffe LLP

CFPB drops CFPA, TILA-related case

On April 23, the CFPB filed a notice of dismissal pertaining to its lawsuit filed in the U.S. District Court for the Western District of Pennsylvania against a credit card company and its CEO. The CFPB alleged the company...more

Orrick, Herrington & Sutcliffe LLP

CFPB dismisses case against Texas bank

On April 11, the CFPB filed its notice of dismissal without prejudice in a case within the U.S. District Court for the Northern District of Texas against a large bank. As previously covered by InfoBytes, the CFPB moved to...more

Orrick, Herrington & Sutcliffe LLP

New York attorney general files two complaints against wage access providers

On April 14, the Attorney General (AG) for the State of New York filed two complaints in the New York State Supreme Court, alleging two earned wage access (EWA) providers violated civil and criminal usury provisions, as well...more

Sheppard Mullin Richter & Hampton LLP

New York AG Sues Earned Wage Access Companies for Allegedly Unlawful Lending Practices

On April 14, New York Attorney General Letitia James announced two separate lawsuits against earned wage access providers—one against a company that issues advances directly to consumers, and another targeting a provider that...more

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