News & Analysis as of

Payday Lending Rule Dodd-Frank Wall Street Reform and Consumer Protection Act

Ballard Spahr LLP

CFPB: Payday Plaintiffs Not Entitled to En Banc Rehearing

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The plaintiffs challenging the CFPB payday lending rule should not be entitled to an en banc rehearing because the issues they cite already have become final and the time for rehearing has lapsed, the CFPB said last week...more

Hudson Cook, LLP

Supreme Court Upholds CFPB Funding Structure, Clears Way for Payday Lending Rule Implementation

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By a 7-2 vote today, the U.S. Supreme Court rebuffed a challenge to the constitutionality of the Consumer Financial Protection Bureau's funding structure, lifting a cloud that threatened the agency's enforcement and...more

McGlinchey Stafford

Clues On High Court Outcome In CFPB Constitutionality Case

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On October 3, the U.S. Supreme Court heard oral arguments in the Consumer Financial Protection Bureau v. Community Financial Services Association of America, the latest in a long line of cases targeting the constitutionality...more

Venable LLP

C[FPB] You Later? Agency’s Future Hangs in the Balance After Oral Argument

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On October 3, the Supreme Court heard oral argument in Consumer Financial Protection Bureau v. Community Financial Services Association of America, Limited, where the Court is reviewing the Fifth Circuit’s opinion that struck...more

Hudson Cook, LLP

U.S. Supreme Court Hears Oral Argument on Whether CFPB's Funding Mechanism Is Constitutional

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On October 3, 2023, the U.S. Supreme Court heard oral argument in Consumer Financial Protection Bureau v. Community Financial Services Association of America. At issue is the constitutionality of the CFPB's funding structure,...more

Troutman Pepper

Supreme Court Denies Oral Argument to Republican State AGs Who Argue That the CFPB Funding Mechanism Is Unconstitutional

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On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v....more

Dorsey & Whitney LLP

The Supreme Court Update - February 27, 2023

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Today, the Supreme Court of the United States granted certiorari in two cases: Consumer Financial Protection Bureau v. Community Fin. Services Assn., No. 22-448: This case involves a constitutional challenge to the...more

Holland & Knight LLP

Fifth Circuit Rules CFPB's Self-Funding Mechanism Is Unconstitutional

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The Consumer Financial Protection Bureau (CFPB) has once again faced constitutional challenges. On Oct. 19, 2022, the U.S. Court of Appeals for the Fifth Circuit held that the agency's "unique" self-funding scheme is...more

Venable LLP

Federal Appeals Court Finds CFPB Unconstitutionally Funded, Structured

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The Consumer Financial Protection Bureau (CFPB) has once again been found to be unconstitutionally structured. The ruling is a win for CFPB critics and calls into question most actions taken by the agency....more

King & Spalding

CFPB Focus on Payday Lending: A Look Around the Corner

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With the change of administration in Washington, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) is widely expected to assume a posture of aggressive enforcement of consumer protection laws. One area that we...more

Ballard Spahr LLP

Trade groups file opposition to CFPB’s motion for summary judgment in Texas lawsuit challenging CFPB payday loan rule

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The industry trade groups challenging the CFPB’s final rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) have filed their combined opposition to the CFPB’s cross-motion for summary judgment and...more

Ballard Spahr LLP

CFPB moves for summary judgment and opposes trade groups’ summary judgment motion in Texas lawsuit challenging CFPB payday loan...

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The CFPB has filed its combined cross-motion for summary judgment and opposition to the plaintiffs’ motion for summary judgment in the lawsuit filed by industry trade groups challenging the CFPB’s final rule on Payday,...more

Ballard Spahr LLP

Trade Groups File Amended Complaint In Texas Lawsuit Challenging CFPB Payday Loan Rule

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On August 28, 2020, the industry trade groups challenging the CFPB’s final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) filed their Amended Complaint in accordance with the briefing...more

Ballard Spahr LLP

CFPB Winter 2020 Supervisory Highlights looks at debt collection, mortgage servicing, payday lending, student loan servicing

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The CFPB has released the Winter 2020 edition of its Supervisory Highlights.  The report discusses the Bureau’s examinations findings in the areas of debt collection, mortgage servicing, payday lending, and student loan...more

Ballard Spahr LLP

CFPB publishes Fall 2019 rulemaking agenda

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The CFPB has published its Fall 2019 rulemaking agenda as part of the Fall 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget....more

Ballard Spahr LLP

CFPB publishes Spring 2019 rulemaking agenda

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The CFPB has published its Spring 2019 rulemaking agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB).  ...more

Morgan Lewis

An End to Regulation by Enforcement? CFPB Director Lays Out New Regulatory and Enforcement Priorities and Attitudes

Morgan Lewis on

Kathleen Kraninger, only the second Senate-confirmed director of the Consumer Financial Protection Bureau (CFPB) in its almost eight-year existence, recently gave her first public remarks. The priorities Director Kraninger...more

Ballard Spahr LLP

CFPB Fall 2018 rulemaking agenda confirms plans to consider rulemaking on “abusiveness” standard

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The CFPB’s Fall 2018 rulemaking agenda has been published by the Office of Information and Regulatory Affairs (OIRA) as part of its Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions.  (OIRA is part of...more

Ballard Spahr LLP

Senate Banking Committee Probes Mulvaney’s Leadership at the CFPB

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On April 12, 2018, Mick Mulvaney, the Acting Director of the Consumer Financial Protection Bureau (Bureau) testified before the Senate Committee on Banking, Housing, and Urban Affairs regarding the Bureau’s Semi-Annual Report...more

Vedder Price

The CFPB: No More “Pushing the Envelope”

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On January 23, 2018, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau (the “CFPB”), published an opinion editorial in The Wall Street Journal (the “Op-Ed”) describing his vision of the CFPB’s role in...more

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