• 02.01.18

    CFPB’s Relaxed ‘Prepaid Accounts Rule’ Fixes Key Problems

    Mick Mulvaney’s CFPB has now issued final changes to its Prepaid Rule, and the payments industry receives a huge reprieve from some of the more draconian elements of the original rule as issued in 2016.

  • 01.31.18

    Reversing Course, D.C. Circuit Declares CFPB Structure Constitutional

    In a divided ruling of the entire U.S. Court of Appeals for the D.C. Circuit, the court held today that the Consumer Financial Protection Bureau (CFPB) structure is constitutional, reflecting a legislative desire to establish a truly independent agency.

  • 01.24.18

    Mulvaney to CFPB: No More ‘Regulation by Enforcement’

    In an email to staff leaked to ProPublica, Acting CFPB Director Mick Mulvaney questioned the “previous governing philosophy” of the bureau, and he signaled a major shift in enforcement methodologies and priorities by suggesting the days of “regulation by enforcement” were ...

  • 01.18.18

    CFPB News: Existential Questions, Payday Lending Reexamined

    It’s a huge week for the Consumer Financial Protection Bureau (CFPB), as it announces a “call for evidence” on how well it is performing its “proper and appropriate” functions, and the bureau announces that it will reconsider a tough payday lending rule that was ...

  • 01.18.18

    Mortgage Servicer Reaches $45M Deal With AGs

    In a settlement involving the attorneys general of 49 states and the District of Columbia, a national mortgage servicer agreed to pay roughly $45 million for allegedly violating state and federal laws on foreclosures, loan modifications and servicing, including more than $31 million in payments to ...

  • 01.09.18

    Financial Litigation Roundup: Key Federal Rulings in 2017

    In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts.

  • 12.28.17

    CFPB’s Payday Loan, Auto Lending Rules in Jeopardy

    More Consumer Financial Protection Bureau rules may be reversed as lawmakers moved to dismantle both the payday loan rule and the auto lending rule.

  • 12.28.17

    Bill Would Ban Customer Termination by Federal Agencies

    In an attack on heavily criticized practices from Operation Choke Point, the House of Representatives passed a bill that would place limits on federal bank regulators ordering account closures.

  • 12.22.17

    Did the CFPB Falsify Documents in Payday Lender Exam?

    In an explosive letter to Attorney General Jeff Sessions, a former Consumer Financial Protection Bureau (CFPB or Bureau) employee claims that her former bosses asked her to falsify records in a payday lender examination that resulted in a multimillion-dollar settlement.

  • 12.19.17

    The Battle Over CFPB Leadership Continues

    Although the first round in the battle over leadership of the Consumer Financial Protection Bureau went to President Donald Trump’s pick for the position, the fight continues, leaving the CFPB’s ongoing work very unsettled.