On April 11, the CFPB announced that it will not prioritize enforcement or supervision against nonbank financial companies that miss registration deadlines under its Repeat Offender Registry. The Bureau also stated that it is considering a notice of proposed rulemaking to rescind or narrow the scope of the rule, finalized in 2024, that established the registry.Continue Reading CFPB Announces It Will Not Prioritize Oversight of Repeat Offender Registry
On April 8, a federal court granted the CFPB’s motion to withdraw from its joint enforcement action against a global money transmitter. The lawsuit, originally filed in April 2022 in partnership with the New York Attorney General, alleged violations of the Electronic Fund Transfer Act (EFTA), including the Remittance Rule under its implementing Regulation E.Continue Reading CFPB Drops Lawsuit Against Money Transmitter
On April 3, the CFPB informed a Florida federal district court that it plans to initiate new rulemaking to revise its small business lending data collection rule under Section 1071 of the Dodd-Frank Act. The Bureau agreed to stay the rule’s compliance deadlines in response to ongoing litigation brought by a trade group representing providers of sales-based financing. Continue Reading CFPB Seeks to Reopen Small Business Lending Rule Under Section 1071
On March 28, the CFPB announced that it will not prioritize enforcement or supervision of the remaining provisions of its Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, which were set to take effect on March 30. Continue Reading CFPB Plans Limited Enforcement of Payday Lending Rule
On Friday, Judge Amy Jackson of the United States District Court for the District of Columbia granted a preliminary injunction sought by the National Treasury Employees Union, over efforts by Acting Director Russell Vought to shutter the agency. The union, which represents the Bureau’s employees, had sought an injunction that would have stopped Vought from eliminating jobs and contracts at the agency, and protect key CFPB functions from being shut down while the litigation was in progress.Continue Reading D.C. Federal Court Judge Blocks Efforts to Dismantle the CFPB
On March 26, the CFPB filed a motion to vacate its recent settlement against an Illinois-based mortgage lender accused of engaging in discriminatory marketing practices in violation of the Equal Credit Opportunity Act (ECOA) and the Consumer Financial Protection Act (CFPA). The lawsuit, initially filed in 2020, alleged that the lender’s public radio advertisements and commentary discouraged prospective applicants in majority- and minority- Black neighborhoods from applying for mortgage loans.Continue Reading CFPB Moves to Vacate Redlining Settlement Against Illinois-based Mortgage Lender
On March 13, the CFPB filed a brief in an Illinois federal court, reinforcing its arguments for a $43 million judgment against the founder of a now-defunct debt relief company. The CFPB contends that the company’s founder controlled its deceptive telemarking operations and should be held personally liable under the Telemarketing Sales Rule (TSR) and the Consumer Financial Protection Act (CFPA). Continue Reading CFPB Pushes Forward in Debt Relief Action
The CFPB is extending the comment periods for two proposed rulemakings under Regulation V, which implements the Fair Credit Reporting Act (FCRA). On March 5, the Bureau extended the comment period for its proposed rule on data brokers and consumer reports. Similarly, on March 7, the CFPB announced an extension for its Advance Notice of Proposed Rulemaking (ANPR) on identity theft and coerced debt.Continue Reading CFPB Extends Comment Periods for Two Proposed Regulation V Rules
The CFPB has recently dismissed two more enforcement actions—one against a major credit reporting agency and another against a lease-to-own financing provider. Both lawsuits involved allegations of abusive, unfair, and deceptive acts and practices. Continue Reading CFPB Drops Two More Major Lawsuits
On March 10, 2025, the CFPB informed the U.S. District Court for the Northern District of Texas that it will proceed with litigation against a short-term installment lender and its subsidiary for alleged violations of the Military Lending Act (MLA). The lawsuit alleges that the lender violated the MLA and a 2013 administrative consent order by issuing loans to military service members with interest rates exceeding the MLA’s 36% cap, included mandatory arbitration provisions in loan contracts, and failed to provide required disclosures. The CFPB further asserts that these practices continued despite a prior CFPB enforcement order against the lender’s predecessor.Continue Reading CFPB Moves Forward with Military Lending Act Enforcement Against Installment Lender
The CFPB is facing pushback from the U.S. Senate over two final rules issued under the Biden administration: one expanding oversight of nonbank digital payment providers and another limiting the reporting of medical debt. Both efforts invoke the Congressional Review Act (CRA), a legislative mechanism that allows Congress to roll back recently finalized federal regulations.Continue Reading GOP Senators Moving to Invoke the Congressional Review Act Over Biden-Era Rules