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3 weeks ago | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025.
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3 weeks ago | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
The judge who barred the Trump Administration from dismantling the CFPB says the agency cannot implement plans to fire the majority of the bureau’s employees at this stage. During a hearing on April 18, Judge Amy Berman Jackson said she is concerned that CFPB officials are ignoring her earlier order that keeps the agency in existence until she rules on the merits of a lawsuit filed by the National Treasury Employees Union challenging plans to dismantle the agency.
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3 weeks ago | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta. The CFPB will focus its enforcement and supervision resources on pressing threats to consumers, particularly servicemembers, their families, as well as veterans, Paoletta wrote, in a memo to bureau employees. The CFPB also will shift its supervisory efforts back to depository institutions.
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1 month ago | 
jdsupra.com | John Culhane Jr. |Alan Kaplinsky |Joseph J. Schuster
The Circuit Court of Appeals for the District of Columbia has issued an administrative stay for to a judge’s order blocking wholesale changes at the CFPB. The three-judge panel said the administrative stay means the CFPB is returned to the state it was in before U.S. District Judge Amy Berman Jackson issued an order blocking the possible dismantling of the CFPB. That order came in a suit filed by the National Treasury Employees Union, several other groups and a pastor.
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1 month ago | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
The two Democratic FTC members who were fired by President Trump have filed suit in federal court challenging their dismissal. Alvaro Bedoya and Rebecca Slaughter filed suit in U.S. District Court for the District of Columbia contending that their dismissals were illegal since the FTC is supposed to be an independent agency. They said that Trump’s decision was in direct violation of federal law and Supreme Court precedent.
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1 month ago | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
President Trump on Tuesday fired the remaining two Democratic members of the FTC, leaving only two Republicans on the commission. The commissioners, Alvaro Bedoy and Rebecca Slaughter, announced their dismissals on social media. Both called their dismissals illegal, since the FTC is supposed to be an independent agency. Both of them called their firings illegal and Bedoy already has said he would challenge his dismissal in court.
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2 months ago | 
jdsupra.com | John Culhane Jr. |Alan Kaplinsky |Joseph J. Schuster
In a significant ruling on February 18, 2025, the Wisconsin Court of Appeals determined that National Bank Act (NBA) does not preempt the procedural “right to cure” notice requirements mandated by the Wisconsin Consumer Act (WCA), reversing a judgment in two debt collection actions. The court, thereby, determined that this state-level consumer protection was not preempted by the NBA.
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2 months ago | 
jdsupra.com | John Culhane Jr. |Kristen Larson |Ronald K. Vaske
Chief Judge Virginia Kendall of the Northern District of Illinois has extended her preliminary injunction prohibiting Illinois from enforcing the Illinois Interchange Fee Prohibition Act (the “IFPA”) to cover out-of-state banks conducting business in the state. Judge Kendall already had ruled that Illinois could not enforce the IFPA on nationally chartered banks and federal savings associations but requested additional briefing with respect to federal credit unions and out-of-state banks.
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Feb 12, 2025 | 
jdsupra.com | John Culhane Jr. |Alan Kaplinsky |Kristen Larson
Sens. Bernie Sanders, I-Vt. and Josh Hawley, R-Mo. have introduced bipartisan legislation that could cap credit card interest rates at 10%. The Senators said their bill, S. 381, would fulfill a commitment made by President Trump when he campaigned for president last year. The legislation—which has been proposed in past Congresses—would impose the cap through a change in the Truth in Lending Act.
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Feb 11, 2025 | 
jdsupra.com | Richard Andreano Jr. |John Culhane Jr. |Alan Kaplinsky
Seventeen financial services trade groups are calling on the CFPB to abandon its plan to amend rules under the Fair Credit Reporting Act (FCRA) to vastly expand the scope of the FCRA by redefining what a “consumer report” is and who is a “consumer reporting agency.” As previously reported, while the CFPB touts the proposal as one to cover data brokers, it is much broader than that.
