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Consumer Financial Protection Act (CFPA) Consumer Financial Products Supreme Court of the United States

Dechert LLP

Third Circuit Holds Securitization Trusts Are “Covered Persons” Under CFPA

Dechert LLP on

A long-awaited Third Circuit decision held that securitization trusts holding student loans are “covered persons” subject to the CFPB’s enforcement and investigative powers because they “engage” in offering or providing...more

Ballard Spahr LLP

New York federal court stays lawsuit filed jointly by CFPB and New York Attorney General pending SCOTUS decision in CFSA

Ballard Spahr LLP on

In January 2023, the CFPB filed a lawsuit in a New York federal district court jointly with the New York Attorney General (NYAG) against an auto finance company alleging violations of the Consumer Financial Protection Act...more

Orrick, Herrington & Sutcliffe LLP

9th Circuit orders district court to reassess $7.9 million civil penalty against payments company

On January 27, the U.S. Court of Appeals for the Ninth Circuit ordered a district court to reassess its decision “under the changed legal landscape since its initial order and opinion” in an action concerning alleged...more

Ballard Spahr LLP

Ninth Circuit puts hold on CashCall appeal pending SCOTUS decision in Seila Law; CFPB asks Second Circuit to adjourn oral argument...

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As expected, the U.S. Supreme Court’s grant of Seila Law’s cert petition is impacting other cases in which the CFPB’s constitutionality has also been challenged. ...more

White & Case LLP

Consumer financial services: The road ahead: Payment processing

White & Case LLP on

The CFPB continued to be active in the consumer payments space in 2018, while the Federal Reserve and market participants considered the future of payment processing, including the development of faster payment systems....more

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