News & Analysis as of

Regulatory Authority Financial Services Industry UDAAP

Ballard Spahr LLP

Another target of CFPB enforcement action argues that lawsuit filed on August 23, 2023 must be dismissed because the CFPB lacked...

Ballard Spahr LLP on

We have recently blogged about two other actions in which this issue has been raised (one being a declaratory judgment action filed against the CFPB on July 23, 2024 in the E.D. Tex. and the other being an enforcement action...more

Ballard Spahr LLP

Texas Federal District Court invalidates CFPB Exam Manual changes which opined that discrimination is a UDAAP violation

Ballard Spahr LLP on

As we predicted long ago, on Friday, September 8, 2023, the Federal District Court for the Eastern District of Texas vacated the changes made in March 2022 to the CFPB’s Exam Manual. On that date, the CFPB purported to use...more

Troutman Pepper

As Predicted, Texas Federal Court Holds CFPB Overstepped Its Authority With UDAAP Exam Manual Amendment

Troutman Pepper on

On September 8, a federal court in the Eastern District of Texas granted summary judgment in favor of the U.S. Chamber of Commerce (Chamber) and several other trade associations, holding that the Consumer Financial Protection...more

Ballard Spahr LLP

District court poised to rule on cross-motions for summary judgment in UDAAP includes discrimination lawsuit

Ballard Spahr LLP on

The U.S. Chamber of Commerce, joined by six other trade groups, filed a lawsuit on September 28, 2022 in a Texas federal district court against the CFPB challenging the CFPB’s recent update to the Unfair, Deceptive, or...more

Manatt, Phelps & Phillips, LLP

[Webinar] Key Issues for Small Business Finance in 2021 - March 24th, 2:00 pm - 3:00 pm ET

State and federal financial regulators increasingly are focused on protecting small businesses, as illustrated by recent enforcement efforts and new state laws regulating both traditional and innovative small-business finance...more

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