On February 3, 2023, an Illinois federal judge dismissed with prejudice Bureau of Consumer Financial Protection v. Townstone Financial Inc. et al., the Consumer Financial Protection Bureau’s redlining case against a non-bank...more
In Community Financial Services Association of America Ltd. (CFSA) v. Consumer Financial Protection Bureau (CFPB), the Fifth Circuit held that the CFPB’s independent funding mechanism is unconstitutional and, thus, vacated...more
The CFPB issued a Fair Lending Report in May of 2022 (“Report”), in which it provided updates on its involvement with ongoing litigation, including its amicus program. The CFPB emphasized that its amicus program provides...more
On April 1, 2020, as the nation was in the beginning stages of its COVID-19 shutdown and companies, including financial institutions, encountered operational challenges, the CFPB released a statement on supervisory...more
On Tuesday, the Consumer Financial Protection Bureau issued a Bulletin entitled Consumer Reporting FAQs Related to the CARES Act and COVID-19 Pandemic. The CFPB’s Bulletin reminds creditors that compliance with the Fair...more
On March 27, 2020, the President signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act). Amongst its many provisions is an amendment to the Fair Credit Reporting Act, 15 U.S.C. § 1681 (FCRA) that adds...more