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Injunctive Relief Financial Services Industry Consumer Financial Products

Troutman Pepper

Fifth Circuit Denies CFPB’s Petition for Panel Rehearing in Credit Card Late Fee Rule Lawsuit

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On May 3, the U.S. Court of Appeals for the Fifth Circuit entered an order denying the CFPB’s (CFPB) petition for a panel rehearing and effectively setting the stage for a long-awaited ruling on a preliminary injunction in...more

Troutman Pepper

Fifth Circuit Vacates District Court’s Denial of Preliminary Injunction in Credit Card Late Fee Rule Lawsuit, Remands for Further...

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On April 30, the U.S. Court of Appeals for the Fifth Circuit issued an order vacating the district court’s effective denial of the motion for a preliminary injunction filed by several trade groups, including the U.S. Chamber...more

Ballard Spahr LLP

Fifth Circuit directs Texas federal court to rule by May 10 on plaintiffs’ preliminary injunction motion in lawsuit challenging...

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A surprising development took place this week in the lawsuit challenging the CFPB’s final credit card late fee rule (Rule). The Fifth Circuit entered an order vacating the district court’s order denying the plaintiffs’...more

Ballard Spahr LLP

Judicial Conference issues policy regarding random assignment of judges

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On March 12, 2024, the Judicial Conference of the United States (“Judicial Conference”) announced that, in an effort to limit the ability of litigants to select judges in certain cases based on where they file lawsuits, it...more

Ballard Spahr LLP

Plaintiffs file memorandum opposing FDIC’s motion to dismiss challenge to NSF fee guidance

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On February 14, 2024, the Minnesota Bankers Association and Lake Central Bank (the “Plaintiffs”) filed their memorandum in opposition to the Federal Deposit Insurance Corporation’s (FDIC) motion to dismiss their challenge to...more

Ballard Spahr LLP

Texas federal district court issues limited preliminary injunction enjoining CFPB from implementing and enforcing small business...

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The Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) has issued an order that preliminarily enjoins the CFPB from...more

Bradley Arant Boult Cummings LLP

CFPB Issues Second Consent Order under Acting Director Mulvaney

Security Group, Inc. and several of its wholly owned subsidiaries entered into a consent order with the Consumer Financial Protection Bureau (CFPB) in which it agreed to injunctive relief and to pay a $5 million penalty....more

Ballard Spahr LLP

CFPB/NY AG lawsuit against RD Legal Funding may signal greater scrutiny of non-loan financial products such as merchant cash...

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The CFPB and the New York Attorney General this week filed an action against RD Legal Funding, LLC, two of its affiliates, and their principal (collectively, “RD”), alleging that a litigation settlement advance product...more

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