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Payday Loans UDAAP Payday Lending Rule

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

Ballard Spahr LLP

Update on CFPB payday lending rule: “it ain’t over ‘till it’s over”

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On June 14, the CFPB announced that its payday lending rule would become effective on  March 30, 2025.  However, the CFPB ignored the possibility of further litigation in CFSA v. CFPB, the case challenging the payday lending...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

Sheppard Mullin Richter & Hampton LLP

Latest CFPB Supervisory Highlights Detail UDAAPs Across Range of Areas

On July 26, the CFPB released its Summer 2023 Supervisory Highlights reporting unfair, deceptive, and abusive acts or practices (UDAAPs) across a number of consumer financial products, including auto origination, auto...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 summary judgment motion 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 a motion for summary judgment. The motion follows the filing of an Amended...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

Ballard Spahr critiques CFPB payday loan rule’s payment provisions

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Last month, Ballard Spahr submitted two letters to the CFPB, critiquing the payment provisions of the CFPB’s final payday/auto title/high-rate installment loan rule (the “Payment Provisions”). ...more

Ballard Spahr LLP

State AGs threaten action against CFPB for delaying compliance date for payday loan rule

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A group of 24 Democratic state attorneys general and the D.C. attorney general have submitted a comment letter to the CFPB setting forth their opposition to the CFPB’s proposal to delay the compliance date for the...more

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