Joseph J. Schuster

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

New York Attorney General Letitia James has sued payday lenders MoneyLion Inc. and DailyPay Inc. in New York state court, alleging that the two companies took advantage of tens of thousands of New Yorkers. Both companies make paycheck advance loans to hourly workers in exchange for tips and fees.

4 weeks 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 month 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.

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.

1 month 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.