According to a report by Eleanor Mueller of Semafor, Russell Vought is expected to remain at the Consumer Financial Protection Bureau in a senior adviser role after his service as Acting Director ends on August 1, continuing until Brian Johnson is confirmed by the Senate and sworn in as CFPB Director.… Continue Reading

The FTC has announced that under a proposed order filed in Nevada federal court, Dennise Merdjanian, the operator of a student loan debt forgiveness service, would be permanently barred from the debt relief and telemarketing industries

The proposed order would resolve charges that she and other operators took more than $45.9 million from consumers as part of an allegedly illegal student loan debt relief operation.… Continue Reading

The Oregon Department of Consumer and Business Services, Division of Financial Regulation (DFR), has proposed to issue Bulletin No. DFR 2026-X, reminding nonbank “Buy Now, Pay Later” (BNPL) companies and BNPL service providers that they generally must obtain Oregon lending licenses before offering BNPL products to Oregon consumers. Unlike a few other states, Oregon has not enacted a statute that specifically applies to BNPL companies and service providers.… Continue Reading

Testifying at his confirmation hearing, CFPB Director nominee Brian Johnson declined to endorse efforts to eliminate the agency.

Appearing before the Senate Banking, Housing and Urban Affairs Committee, Johnson said, “That is not my intention. The CFPB is a creature of statute.” He added, “My intention is to execute the law.”… Continue Reading

In today’s episode of the Consumer Finance Monitor Podcast, we are pleased to present an audio version of the webinar we conducted on May 27, 2026 examining the CFPB’s revised final rule and its practical implications for banks, credit unions, FinTech companies, and other providers of small business credit.

During this comprehensive discussion, our host, Alan Kaplinsky (founder, former Practice Group Leader for 25 years and now Senior Counsel of the Consumer Financial Services Group) was joined by his Ballard Spahr colleagues Richard Andreano and John Culhane, along with two distinguished guest panelists: Bradley Blower, Principal and Founder of Inclusive-Partners, LLC, and Louis Caditz-Peck, Executive Director of the Responsible Business Lending Coalition.… Continue Reading

As we have previously reported, the en banc Tenth Circuit is considering National Association of Industrial Bankers v. Weiser, the closely watched case involving Colorado’s effort to use Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) to apply its interest-rate caps to loans made by out-of-state, state-chartered banks to Colorado borrowers.… Continue Reading

“Nature abhors a vacuum.” — Aristotle

The Consumer Financial Protection Bureau’s dramatic retreat from enforcement during 2025 and 2026 has created one of the most significant shifts in consumer financial services regulation since the Bureau opened its doors in 2011.

Much has been written about what the CFPB is no longer doing.… Continue Reading

As we have previously reported, the en banc Tenth Circuit granting rehearing in National Association of Industrial Bankers v. Weiser, the closely watched case involving Colorado’s attempt to use Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) to prevent out-of-state state-chartered banks from exporting their home-state interest rates to Colorado borrowers.… Continue Reading

Another amicus brief has been filed in the Tenth Circuit’s en banc consideration of NAIB v. Weiser, this time by two prominent consumer advocacy organizations: the Center for Responsible Lending (CRL) and the National Consumer Law Center (NCLC). The brief supports the Colorado Attorney General’s interpretation of Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA), arguing that when a state opts out of Section 521, it may apply its usury laws to loans made by out-of-state state-chartered banks to borrowers residing in the opt-out state.… Continue Reading

Today marks a milestone that is professionally meaningful to our Consumer Financial Services Group. Fifteen years ago, on July 21, 2011, the very day the Consumer Financial Protection Bureau (CFPB) officially opened its doors and began operations, Ballard Spahr launched ConsumerFinanceMonitor.com.

At the time, we believed that the creation of the CFPB would fundamentally reshape the consumer financial services industry.… Continue Reading