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5 days ago | 
mondaq.com | Richard J. Andreano |John Culhane
A federal district court recently granted the unopposed motionof the Department of Justice (DOJ) and the Consumer FinancialProtection Bureau (CFPB) to terminate their October 2021 consentorder with Trustmark National Bank (Trustmark) and to dismiss withprejudice the redlining case they brought that resulted in thatconsent order.
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5 days ago | 
mondaq.com | Richard J. Andreano |John Culhane
In a move that could have ramifications for lawsuits filed byformer FTC and NCUA board members, by a vote of 6-3 the SupremeCourt has issued a stay that prohibits the Democratic members ofthe National Labor Relations Board and the Merit Systems ProtectionBoard who were fired by President Trump from continuing to servewhile challenging the legality of their removal.
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1 week ago | 
mondaq.com | Richard J. Andreano |John Culhane
The CFPB is proposing to rescind its rule that requires certainnonbank entities to register covered agency enforcement and courtorders. Specifically, the rule applies to any supervised ornon-supervised nonbank that engages in offering or providingconsumer financial products or services and any of its serviceprovider affiliates unless excluded.
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2 weeks ago | 
mondaq.com | Alan Kaplinsky |John Culhane |Richard J. Andreano
Despite massive attempted layoffs and cancellation ofthird-party vendor contracts, the Trump Administration did not anddoes not intend to shut down the CFPB, a Justice Departmentattorney told a federal appeals court on May16 in connection withoral arguments on the government's appeal of the preliminaryinjunction issued by the District Court, which essentially requiredthe government to maintain the status quo pending the outcome ofthe litigation.
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2 weeks ago | 
mondaq.com | Richard J. Andreano |John Culhane
Contending that policies implemented by guidance represent anunfair regulatory burden and might be contrary to federal law, theCFPB is rescinding 67 guidance documents issued since the bureau beganoperating in 2011.
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3 weeks ago | 
mondaq.com | Richard J. Andreano |John Culhane
The CFPB has announced it will not make enforcement of its rulerequiring financial institutions to report their lending towomen-owned, LGBTQI+-owned and minority-owned small businesses apriority. "The bureau takes this step in the interest of focusingresources on supporting hard-working American taxpayers,servicemen, veterans, and small businesses," the bureau said,in announcing the move.
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1 month ago | 
mondaq.com | Richard J. Andreano |John Culhane
President Trump recently signed an Executive Order entitled"Restoring Equality of Opportunity andMeritocracy" to eliminate the use of disparate impactliability. The U.S. Department of Housing and Urban Development(HUD) also has indicated that it intends to yet again reconsiderits disparate impact rule under the Fair Housing Act.
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1 month ago | 
openlegalblogarchive.org | Alan Kaplinsky |John Culhane |Richard J. Andreano
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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Jan 17, 2025 | 
openlegalblogarchive.org | Richard J. Andreano
The CFPB is calling on state governments to increase their focus on consumer financial protection laws. “Enforcing consumer protection law has long been a state-federal partnership in which the states have often taken the lead,” the CFPB said, in a report that includes legislative and regulatory language that states may use. “Over the last century, in response to evolving markets, states have refreshed the core standards of fair dealing that form the bedrock of consumer protection law.
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Jan 17, 2025 | 
consumerfinancemonitor.com | Richard J. Andreano
The CFPB is calling on state governments to increase their focus on consumer financial protection laws. “Enforcing consumer protection law has long been a
