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Consumer Financial Protection Bureau (CFPB) Financial Services Industry Stays

Ballard Spahr LLP

Populus files motion to dismiss CFPB enforcement action based on fact that CFPB has been unlawfully funded by Fed when it had no...

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We have previously blogged about an enforcement action brought on July 12, 2022 by the CFPB against Populus Financial Group, Inc., d/b/a ACE Cash Express, Inc. in Federal District Court for the Northern District of Texas...more

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Fifth Circuit Rules CFPB Credit Card Late Fee Rule Case Stays in Texas

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On June 18, the Fifth Circuit Court of Appeals granted the plaintiffs’ petition for a writ of mandamus, effectively halting the transfer of the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau)...more

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Texas District Court Orders Transfer of the Credit Card Late Fee Rule Lawsuit to D.C. … Again: Fifth Circuit Promptly Issues Stay

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On Tuesday, the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB or Bureau) credit card late fee rule (Final Rule) was ordered to be transferred from the U.S. District Court for the Northern District of...more

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Fifth Circuit extends stay of district court order transferring to D.C. lawsuit challenging CFPB final credit card late fee rule;...

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The U.S. Court of Appeals has extended until 5 p.m. CT today its administrative stay of the district court’s order transferring the case to the U.S. District Court for the District of Columbia. This is the Fifth Circuit’s...more

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Fifth Circuit Temporarily Halts Transfer of Credit Card Late Fee Rule Lawsuit

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On April 2, the U.S. Court of Appeals for the Fifth Circuit issued an order staying the district court’s decision to transfer the lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) credit card late fee rule...more

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Nevada federal district court stays CFPB action to enforce civil investigative demand pending SCOTUS decision in CFSA case

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A Nevada federal district court has stayed an action filed by the CFPB to enforce a civil investigative demand (CID) issued to a small-dollar lender pending the U.S. Supreme Court’s decision in Community Financial Services...more

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Credit Union Trade Associations Move to Intervene in Case Challenging CFPB’s Enforcement of its Section 1071 Rule

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On August 10, two credit union trade associations — Credit Union National Association (CUNA) and Cornerstone Credit Union League — and Rally Credit Union (collectively, Proposed Intervenors) filed an Unopposed Emergency...more

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Banks From Coast to Coast Urge CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 8, bankers associations from all 50 states sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to stay enforcement and implementation of the small business data collection and...more

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

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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

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Credit Union Trade Associations Urge CFPB to Stay Implementation of its Section 1071 Final Rule

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On August 7, the National Association of Federally-Insured Credit Unions (NAFCU) and the Credit Union National Association (CUNA) sent a joint letter to the Consumer Financial Protection Bureau (CFPB or Bureau) urging it to...more

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Extending relief granted in lawsuit challenging CFPB small business lending rule to all covered entities will require more...

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Last week, we published a blog post urging the CFPB to agree to extend the relief granted by the Texas federal district court in the lawsuit challenging the CFPB’s final small business lending rule (Rule) to all entities...more

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New York Federal Court Stays CFPB’s Lawsuit Against Indirect Auto Finance Company Pending U.S. Supreme Court Decision in CFPB...

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As discussed here, on January 4, the Consumer Financial Protection Bureau (CFPB) and the New York Attorney General (NY AG) filed a joint complaint in the U.S. District Court for the Southern District of New York against...more

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Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule (UPDATED)

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order that once again continues the stay...more

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Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule (UPDATED)

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order on December 6 that once again...more

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Sen. Sherrod Brown Joins Consumer Groups in Applying Pressure to Encourage CFPB to Seek Lifting of Stay of the Compliance Date for...

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On August 14, 2019, Senate Banking Committee Ranking Member Sherrod Brown (D-Ohio) wrote a letter imploring Consumer Financial Protection Bureau Director Kathy Kraninger to implement the payments provisions of the 2017 Payday...more

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Stay of Litigation and Compliance Date Continued in Payday Lending Rule Lawsuit

Following the status report filed last week by the parties involved in the lawsuit challenging the CFPB’s Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule, the Texas district court faced with the case...more

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Court continues stay of litigation and compliance date in trade group lawsuit challenging CFPB payday loan rule

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order on August 6 that once again...more

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Parties file another status report in trade group lawsuit challenging CFPB payday loan rule

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The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the...more

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Texas federal court again continues stay of CFPB payday loan rule and stay of compliance date

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) entered an order yesterday that once again continues...more

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Texas federal court continues stay of trade groups’ lawsuit challenging CFPB payday loan rule and stay of compliance date

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The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule)...more

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CFPB does not seek lifting of stay of compliance date for payday loan rule’s payment provisions in new status report filed in...

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The CFPB and the two industry trade groups that filed a lawsuit in a Texas federal district court challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) filed a new status report with the...more

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Court stays CFPB payday loan rule compliance date

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This week, the court reversed course in the lawsuit filed by two industry trade groups challenging the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule). ...more

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CFPB seeks extension to respond to trade groups’ preliminary injunction motion in lawsuit challenging payday loan rule

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The CFPB is asking the Texas federal district court to give it a 45-day extension to respond to the preliminary injunction motion filed by two trade groups in their lawsuit challenging the CFPB’s final payday/auto...more

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Trade groups challenging CFPB’s payday loan rule file preliminary injunction motion

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The two trade groups that unsuccessfully attempted to obtain a stay of the August 19, 2019 compliance date for the CFPB’s final payday/auto title/high-rate installment loan rule (Payday Rule) have now filed a Motion for...more

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Court grants CFPB’s request for entry of Rule 54(b) judgment in RD Legal Funding case to allow appeal of constitutionality ruling

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Judge Preska has entered an order granting the CFPB’s request for entry of a Rule 54(b) judgment to allow the CFPB to appeal her June 21 constitutionality ruling to the Second Circuit....more

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