Newsletters

01.16.19

New Year, New CFPB? Kraninger Memo Sparks Debate

Perhaps setting the tone at the Bureau of Consumer Financial Protection (CFPB or Bureau), new Director Kathy Kraninger urged Bureau employees to “vigorously enforce the law” but refrain from presuming guilt about industry participants.


01.03.19

CFPB 2018 Year in Review, and What to Expect in 2019

Let’s call it molasses. Because that is what the Trump administration figuratively poured into the consumer protection engine known as the CFPB. 


12.05.18

Operation Choke Point Litigation Stirs Up Lawmaker Concern—Again

According to a group of payday lenders, the reverberations of Operation Choke Point are still being felt.


11.27.18

CFPB: Payday Lending Rule, New Report and MLA Concerns

This week in news from the Bureau of Consumer Financial Protection (CFPB or Bureau), a Texas federal court granted a stay of the compliance deadline for the Payday, Vehicle Title and Certain High-Cost Installment Loans Rule, allowing the industry to breathe a sigh of relief.


11.27.18

State Update: Enforcement, Oversight by States Continues

State attorneys general continue to fill the federal enforcement void, with the Pennsylvania attorney general soliciting redlining complaints and the attorney general in New York reaching a $65 million deal with a bank over incentivized compensation.


11.07.18

CFPB News

The Bureau of Consumer Financial Protection (CFPB or Bureau) may have changed its name under Acting Director Mick Mulvaney, but its recent enforcement action against a small-dollar lender in Tennessee makes it look just like the old CFPB.


10.10.18

New York DFS Files Second Suit Over OCC Fintech Charter

Here we go again: The New York Department of Financial Services (DFS) has filed its second lawsuit against the Office of the Comptroller of the Currency (OCC) over the agency’s plan to permit fintech companies to apply for Special Purpose National Bank Charters.


09.27.18

CFPB Updates: First Mulvaney Lawsuit, Questions About Disparate Impact

The latest news from the Bureau of Consumer Financial Protection (CFPB or Bureau) includes the first lawsuit filed under the leadership of Acting Director Mick Mulvaney, committee approval of his permanent replacement and the publication of the 17th edition of the Bureau’s Supervisory ...


08.16.18

States Take Action on Bitcoin Online Lending

State regulators are keeping a close eye on cryptocurrency and digital lending activities, with a cease and desist order involving bitcoin and a new law targeting online lenders.


06.20.18

Enforcement: PHH Suit Gone but Other Enforcement Activity Continues

As the  Consumer Financial Protection Bureau (CFPB or Bureau) withdraws from enforcement, activity continues in the courts and with certain other regulators.