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1 month ago | 
jdsupra.com | Christopher A. Jones |James Kim |Andrew Solomon
On April 15, 2025, President Trump signed the Lowering Drug Prices by Once Again Putting Americans First Executive Order (Executive Order). The Executive Order revives and expands several pharmaceutical pricing and payment reforms from President Trump’s first term, with a goal of curbing drug costs to patients. This offers a highly anticipated glimpse into the Administration’s position on drug manufacturers, Pharmacy Benefit Managers (PBMs) and providers.
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1 month ago | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
At an emergency hearing this morning in National Treasury Employees Union v. Vought, Judge Amy Berman Jackson once again halted the layoffs of over 1,000 employees at the Consumer Financial Protection Bureau (CFPB). The judge emphasized the need for a comprehensive record to determine whether the firings complied with the D.C. Circuit’s order from last week (discussed here).
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2 months ago | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
On March 28, the Consumer Financial Protection Bureau (CFPB or Bureau) was ordered by the U.S. District Court for the District of Columbia to reinstate its employees and resume its operations. This decision comes after the CFPB allegedly attempted to shut down its activities, leading to the National Treasury Employees Union (NTEU) filing a lawsuit questioning the legality of the shutdown.
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2 months ago | 
jdsupra.com | Taylor Gess |James Kim |Carlin McCrory
On March 20, the Arkansas governor signed into law Arkansas Act 347, known as the Earned Wage Access Services Act. Sponsored by Representative David Ray (R) and Senator Ben Gilmore (R), this legislation aims to regulate earned wage access (EWA) providers. Notably, “providers” is defined to include a person engaged in the business of offering earned wage access, but not an employer that advances a portion of earned wages directly to employees or independent contractors.
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2 months ago | 
jdsupra.com | Stefanie Jackman |James Kim |Chris Willis
On March 10, Christopher Mufarrige, the newly-appointed Director of the Bureau of Consumer Protection at the Federal Trade Commission (FTC), published a blog explaining the significance of Civil Investigative Demands (CIDs) for businesses and the ramifications for failing to respond.
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Feb 17, 2025 | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
As discussed here, on February 9, the National Treasury Employees Union (NTEU), which includes members employed by the Consumer Financial Protection Bureau (CFPB or Bureau), filed a lawsuit in the District Court for the District of Columbia. The lawsuit challenges the actions of Acting Director Russell Vought, arguing that his efforts to “shut down” the CFPB are unconstitutional and violate the Congressional mandate outlined in the Dodd-Frank Act.
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Feb 13, 2025 | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
On February 11, President Donald Trump nominated Jonathan McKernan to be the new Director of the Consumer Financial Protection Bureau (CFPB or Bureau). If confirmed by the Senate, McKernan will replace Acting CFPB Director Russell Vought, who also serves as the head of the Office of Management and Budget. McKernan was reportedly on the Trump administration’s short list of potential candidates to lead the CFPB and is considered an ally of the financial services industry.
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Feb 11, 2025 | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
In a dramatic series of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has undergone leadership changes, signaling a significant shift in its regulatory approach. These changes began with the firing of Director Rohit Chopra by President Donald Trump and have continued with the resignation of General Counsel Seth Frotman and the appointment of Russell Vought as Acting Director.
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Feb 4, 2025 | 
jdsupra.com | Stefanie Jackman |James Kim |Joshua McBeain
Hours before a scheduled hearing recently, the Consumer Financial Protection Bureau (CFPB or Bureau) filed an “Emergency Notice” in the U.S. Court of Appeals for the Fifth Circuit with respect to the ongoing litigation challenging the CFPB’s Small Business Lending Data Collection final rule under Section 1071 of the Dodd-Frank Act (the 1071 Rule), discussed here.
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Jan 24, 2025 | 
jdsupra.com | Stefanie Jackman |James Kim |Jesse Silverman
Earlier this month, the Consumer Financial Protection Bureau (CFPB or Bureau) issued new policy statements regarding its Compliance Assistance Sandbox (CAS) and No-Action Letters (NAL) programs. These policies ostensibly aim to promote innovation, competition, ethics, and transparency in the consumer financial products and services market.
