Richard Andreano Jr.

6 days 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.

3 weeks 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.

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.

2 months ago | 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.

Jan 16, 2025 | jdsupra.com | Richard Andreano Jr.

The CFPB has published a proposed rule that would ban companies from using contract clauses that the bureau said limit fundamental freedom, including those that waive a consumer’s legal rights and fine print that suppresses speech. “For decades, companies have slowly eroded Americans’ rights by slipping clauses into take-it-or-leave-it contracts that seek an unfair leg up by attempting to deny individuals the benefits of a free market,” the bureau said, in releasing the proposed rule.