Lori J. Sommerfield

21 hours ago | jdsupra.com | Stefanie Jackman |Jesse Silverman |Lori J. Sommerfield

Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published a policy statement in the Federal Register outlining its approach to addressing criminally liable regulatory offenses. This publication comes in response to Executive Order 14294, issued by President Trump on May 9, 2025, which aims to combat overcriminalization in federal regulations.

1 week ago | openlegalblogarchive.org | Stefanie Jackman |Joseph Reilly |Jesse Silverman |Lori J. Sommerfield

Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published in the Federal Register an interim final rule extending compliance dates for its 2023 small business lending rule under the Equal Credit Opportunity Act (Regulation B) (Final Rule) This extension comes in response to court orders in ongoing litigation, affecting the timeline for financial institutions to comply with data collection requirements for women-owned, minority-owned, and small businesses.

1 week ago | jdsupra.com | Stefanie Jackman |Lane Page |Lori J. Sommerfield

On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc.

1 week ago | openlegalblogarchive.org | Chris Willis |Lori J. Sommerfield |Stefanie Jackman |Lane Page

On June 12, the U.S. District Court for the Northern District of Illinois denied the joint motion by the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc.

1 month ago | jdsupra.com | Stefanie Jackman |Jesse Silverman |Lori J. Sommerfield

On May 15, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its May 2022 interpretive rule concerning the scope of state enforcement authority under § 1042 of the Consumer Financial Protection Act of 2010 (CFPA). According to the CFPB, this decision restores statutory limits on states’ authority and aligns enforcement actions with the original legislative intent of the CFPA.