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Equal Credit Opportunity Act Preliminary Injunctions

Ballard Spahr LLP

Kentucky Court Grants a Stay of Case Pending a Decision in the Texas Small Business Lending Lawsuit

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On August 7, 2024, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay the small business lending rule litigation before the court until resolution of the similar case pending in the...more

Ballard Spahr LLP

U.S. Senate Fails to Override Veto of Legislation Rejecting CFPB Section 1071 Small Business Lending Rule

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As previously reported, in late December 2023 President Biden vetoed legislation adopted by the U.S. House of Representatives and U.S. Senate under the Congressional Review Act to override the CFPB’s final Section 1071 small...more

Goodwin

The CFPB Faces Challenges to the Small Business Lending Rule in Texas and Kentucky

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On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the small business lending rule (Final Rule) which implements the small business lending data collection requirements set for in Section 1071 of the...more

Ballard Spahr LLP

Trade groups respond to motion to dismiss lawsuit challenging Nevada law allowing applicant to rely on spouse’s or former spouse’s...

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The three trade groups challenging an amendment to Nevada law that allows an applicant for credit with no credit history to request that the creditor deem the applicant’s credit history to be identical to that of the...more

Ballard Spahr LLP

Nevada regulator and AG file opposition to trade groups’ preliminary injunction motion in lawsuit challenging Nevada law allowing...

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The Commissioner of the Financial Institutions Division (FID) of the Nevada Department of Business and Industry and the Nevada Attorney General have filed opposition to the preliminary injunction motion filed by three trade...more

Ballard Spahr LLP

Nevada regulator and AG seek dismissal of lawsuit filed by trade groups challenging Nevada law allowing applicant to rely on...

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The Commissioner of the Financial Institutions Division of the Nevada Department of Business and Industry and the Nevada Attorney General have filed a motion to dismiss the lawsuit filed last month in Nevada federal court by...more

Hudson Cook, LLP

Trade Groups Challenge New Nevada Law Allowing Credit Applicants to Rely on Spousal Credit History

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Several trade groups, including the American Financial Services Association, Nevada Credit Union League, and Nevada Bankers Association have filed a lawsuit challenging a new Nevada law aimed at allowing credit applicants...more

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