News & Analysis as of

Consumer Financial Protection Act (CFPA) State Attorneys General

Orrick, Herrington & Sutcliffe LLP

Court approves joint Massachusetts and CFPB settlement with credit-repair firm

Recently, the CFPB announced that it entered a stipulated final judgment and order with the Commonwealth of Massachusetts against a national credit-repair company and its owner in the U.S. District Court for the District of...more

Hudson Cook, LLP

CFS Bites of the Month - 2025 Annual Review - Banking

Hudson Cook, LLP on

In this article, we share a timeline of monthly "bites" for the past year applicable to banking....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

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

Bradley Arant Boult Cummings LLP

Despite Vought’s Efforts to Dismantle the CFPB, Enforcement Will Continue – What Will It Look Like?

Russ Vought’s CFPB has been busier over the past two weeks, but not because of increased enforcement or supervision efforts. Instead, recent actions indicate that the administration intends to keep Vought in the acting...more

Orrick, Herrington & Sutcliffe LLP

SDNY Remands Wage Advance Lending Case to New York State Court

On November 12, U.S. SDNY granted a motion to remand a consumer lending case brought by New York Attorney General Letitia James to state court. The court’s analysis focused on whether the case presented a federal question...more

Orrick, Herrington & Sutcliffe LLP

Twenty state attorneys general submit joint letter to CFPB

On September 25, 20 state attorneys general submitted comments on a newly proposed rule by the CFPB that would redefine the legal standard for supervisory designation proceedings. ...more

Holland & Knight LLP

CFPB Withdraws Proposed Changes to State Official Notification Procedures

Holland & Knight LLP on

The CFPB on July 21, 2025, withdrew a direct final rule that would have "rescinded procedures by which a State official must notify the Bureau when the official takes an action to enforce the Consumer Financial Protection...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

Goodwin

CFPB Abandons Plan to Scrap State Notice Rule

Goodwin on

On July 21, 2025, the CFPB announced that it was withdrawing its planned recission of Section 1082.1 of the Consumer Financial Protection Act (CFPA) implementing regulations, which contains procedures by which state officials...more

Sheppard Mullin Richter & Hampton LLP

CFPB Withdraws Rule to Eliminate State Enforcement Notification Requirements

On July 21, the CFPB withdrew its plan to repeal rules that provide procedures for state officials to notify the Bureau before initiating enforcement actions under the Consumer Financial Protection Act (CFPA). The CFPB cited...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

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

Orrick, Herrington & Sutcliffe LLP

CFPB to rescind state requirement to notify Bureau on CFPA enforcement

On May 21, the CFPB published a notice in the Federal Register withdrawing its procedures that required state officials to notify the Bureau when taking action to enforce the CFPA. The direct final rule, effective July 21,...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

Troutman Pepper Locke

Rescission of CFPB’s 2022 Interpretive Rule: A Shift in the Scope of State Enforcement Authority Under the CFPA

Troutman Pepper Locke on

On May 15, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its May 2022 interpretive rule concerning the scope of state enforcement authority under § 1042 of the Consumer Financial Protection...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

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....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

Orrick, Herrington & Sutcliffe LLP

Complaint challenges New York attorney general’s classification of earned wage access as a loan

On April 7, an earned wage access (EWA) provider filed a complaint seeking declaratory relief against the New York Office of the Attorney General (OAG) in U.S. SDNY. The plaintiff requested relief from the OAG’s enforcement...more

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