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CFPB Finalizes Arbitration Rule, Paving the Way for More Class Action Litigation

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced the release of its anticipated Arbitration Rule, opening the door for more consumer class actions against financial institutions concerning financial...more

House Passes Financial CHOICE Act

One month after the U.S. House of Representatives Financial Services Committee passed the Financial CHOICE Act, H.R. 10, with a 34 to 26 vote down party lines, the full House passed the bill on June 8, 2017 with a 233-186...more

Financial CHOICE Act Passes Committee

On May 4, 2017, the U.S. House of Representatives Financial Services Committee passed the Financial CHOICE Act, H.R. 10, with a 34-to-26 vote down party lines. The legislation, co-sponsored by Chairman Jeb Hensarling (R-TX),...more

DC Court of Appeals Orders Rehearing of PHH v. CFPB

On February 16, 2017, the United States Court of Appeals for the DC Circuit granted Respondent Consumer Financial Protection Bureau’s (CFPB) petition for rehearing en banc of PHH Corp. v. CFPB, No. 15-1177 (D.C. Cir.). In...more

Congressional Black Congress Urges President Not to Remove CFPB Director Cordray

On January 24, 2017, 38 members of the Congressional Black Caucus (CBC) sent a letter to President Trump urging him to cease any planned efforts to remove Consumer Financial Protection Bureau (CFPB) Director Richard Cordray....more

Potential CFPB Reform in the Wake of the Election

The results of the recent election have led to speculation regarding what legal changes are in store for the consumer financial services industry and the CFPB in particular. Although President-elect Trump and other...more

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