On July 11, 2024, the U.S. Court of Appeals for the 7th Circuit held in Bureau of Consumer Financial Protection v. Townstone Financial, Inc., that the Equal Credit Opportunity Act (“ECOA”) prohibits discriminatory conduct,...more
Since its inception, the Consumer Financial Protection Bureau (“CFPB”) has issued policy statements around its authority to root out, stop and prevent unfair and deceptive acts pursuant to the Unfair, Deceptive and Abusive...more
On March 23, 2023, the U.S. Court of Appeals for the Second Circuit held that the Consumer Financial Protection Bureau’s (the “CFPB”) funding structure is constitutional. The Second Circuit’s three-judge unanimous panel...more
On February 14th the NY Court of Appeals held that including additional information, such as bankruptcy disclosures, debt collection disclosures and service members' disclosures, in a 90-day preforeclosure notice is...more
On February 1, 2023, the parties completed briefing on the Consumer Financial Protection Bureau’s (“CFPB”) petition for writ of certiorari to the U.S. Supreme Court in the case of Consumer Financial Services Association of...more
In Bureau of Consumer Financial Protection v. Townstone Financial, Inc., the Consumer Financial Protection Bureau (“CFPB”) brought suit against Townstone, a mortgage broker/lender, and its co-founder and chief executive,...more
On October 19, 2022, the United States Court of Appeals for the 5th Circuit dealt a severe blow to the Consumer Financial Protection Bureau’s (“CFPB”) enforcement authority, finding the CFPB’s “self-funding” mechanism...more
The CFPB is now ready to directly regulate the purveyors of digital consumer marketing. The CFPB new rule clarifies when digital marketers and financial products sellers are subject to consumer protection regulations. Digital...more
CFPB's intended use of its UDAAP authority to investigate, and regulate and enforce against illegal "discrimination" in financial products and services breaks open the proverbial damn, with such authority washing over every...more