Newsletters

02.01.18

CFPB’s Relaxed ‘Prepaid Accounts Rule’ Fixes Key Problems

Mick Mulvaney’s CFPB has now issued final changes to its Prepaid Rule, and the payments industry receives a huge reprieve from some of the more draconian elements of the original rule as issued in 2016.


01.31.18

Reversing Course, D.C. Circuit Declares CFPB Structure Constitutional

In a divided ruling of the entire U.S. Court of Appeals for the D.C. Circuit, the court held today that the Consumer Financial Protection Bureau (CFPB) structure is constitutional, reflecting a legislative desire to establish a truly independent agency.


01.24.18

Mulvaney to CFPB: No More ‘Regulation by Enforcement’

In an email to staff leaked to ProPublica, Acting CFPB Director Mick Mulvaney questioned the “previous governing philosophy” of the bureau, and he signaled a major shift in enforcement methodologies and priorities by suggesting the days of “regulation by enforcement” were ...


01.18.18

CFPB News: Existential Questions, Payday Lending Reexamined

It’s a huge week for the Consumer Financial Protection Bureau (CFPB), as it announces a “call for evidence” on how well it is performing its “proper and appropriate” functions, and the bureau announces that it will reconsider a tough payday lending rule that was ...


01.18.18

Hensarling Staffer Headed to CFPB

Continuing the changing of the guard at the Consumer Financial Protection Bureau (CFPB), the former staff director of the House Financial Services Committee will step into the role of the bureau’s chief of staff.


01.09.18

CFPB and State Consumer Financial Protection Year in Review

In 2017 we saw the first significant resistance to and change in what had been uniformly aggressive action by the Bureau of Consumer Financial Protection to enforce consumer financial protection laws, with resistance and change accelerated at the end of the year following the resignation of ...


01.09.18

Financial Litigation Roundup: Key Federal Rulings in 2017

In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts.


12.28.17

CFPB’s Payday Loan, Auto Lending Rules in Jeopardy

More Consumer Financial Protection Bureau rules may be reversed as lawmakers moved to dismantle both the payday loan rule and the auto lending rule.


12.22.17

Did the CFPB Falsify Documents in Payday Lender Exam?

In an explosive letter to Attorney General Jeff Sessions, a former Consumer Financial Protection Bureau (CFPB or Bureau) employee claims that her former bosses asked her to falsify records in a payday lender examination that resulted in a multimillion-dollar settlement.


11.30.17

Battle of Acting Directors: Round One to Mulvaney

Earlier this week, a federal judge refused to grant a temporary restraining order preventing Mick Mulvaney from assuming the reins of the Consumer Financial Protection Bureau (CFPB) as acting director.