Joseph J. Schuster

1 week ago | jdsupra.com | Alan Kaplinsky |Joseph J. Schuster |Ronald K. Vaske

At the request of both sides of the lawsuit, a federal judge has voided the CFPB’s credit card late fee rule. “The parties agree that, in the Late Fee Rule, the Bureau violated the CARD Act by failing to allow card issuers to ‘charge penalty fees reasonable and proportional to violations,’” Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas wrote.

1 week ago | jdsupra.com | Alan Kaplinsky |Joseph J. Schuster

On Friday, April 11, a panel of the D.C. Circuit Court of Appeals modified Judge Jackson’s preliminary injunction order of March 28 pending appeal, as follows: Provision two (which required blanket reinstatement of probationary and term employees that were fired by the CFPB) stayed insofar as it requires the CFPB to reinstate employees whom defendants have determined, after an individualized assessment, to be unnecessary to the performance of defendants’ statutory duties.

2 weeks 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.

3 weeks ago | jdsupra.com | Alan Kaplinsky |Joseph J. Schuster

On Friday, March 28, Judge Amy Berman Jackson issued a 112-page opinion and 3-page order in National Treasury Employees Union, et al. v. Russell Vought, in his official capacity as Acting Director of the Consumer Financial Protection Bureau, et al, Civil Action No. 25-0381 (D.D.C.). Judge Jackson granted a motion for Preliminary Injunction which, in broad terms, enjoined the defendants from continuing to dismantle the CFPB without Congressional authorization to do so.

3 weeks ago | openlegalblogarchive.org | John Culhane |Joseph J. Schuster

The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA challenging the rule. The revocation is one of several steps the Trump Administration is taking to reverse Biden Administration CFPB actions.