Fifth Circuit decision vacates a Consumer Financial Protection Bureau ("CFPB" or "Bureau") Payday Lending Rule because the Bureau's funding mechanism violates the Constitution's Appropriations Clause....more
In Short -
The Situation: Since being confirmed as Director of the Consumer Financial Protection Bureau ("CFPB") last year, Rohit Chopra has urged state attorneys general to work with his agency to enforce federal...more
State attorneys general have become significant players in the financial world, using a number of special investigative and enforcement tools to investigate and prosecute alleged wrongdoing by financial market participants....more
On June 11, 2020, California budget negotiators tabled California Governor Gavin Newsom's proposal to create a state version of the federal Consumer Financial Protection Bureau ("mini-CFPB"). As discussed in a previous Jones...more
The New York Department of Financial Services makes good on a promise to fill the void left by the Consumer Financial Protection Bureau.
On April 29, 2019, the New York Department of Financial Services ("DFS") announced...more