As previously reported,, in addressing the fact that current stays of the section 1071 small business data collection and reporting rule only apply to the applicable plaintiffs, intervenors and their members, the CFPB advised in May 2025 that it would not make enforcement of the rule a priority in order to provide relief to parties not covered by any court stay of the rule.… Continue Reading

Our podcast show being released today is Part 2 of our two-part series featuring two former CFPB senior officers who were key employees in the Enforcement Division under prior directors: Eric Halperin and Craig Cowie. Eric Halperin served as the Enforcement Director at the CFPB from 2010 until former Director, Rohit Chopra, was terminated by President Trump.… Continue Reading

As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was terminated early, and the DOJ is seeking early termination of the September 2022 consent order with Lakeland Bank.… Continue Reading

The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair Housing Act and Equal Credit Opportunity Act. The motion also seeks the dismissal with prejudice of the case that the DOJ brought that resulted in that consent order.… Continue Reading

As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB allegations of redlining on the part of Townstone in violation of the Equal Credit Opportunity Act (ECOA).… Continue Reading

The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry.

The committee approved H.R. 2808, the Homebuyers Privacy Protection Act in a 46-0 vote. Companion legislation has been introduced in the Senate; no action has been taken on the legislation in that body.… Continue Reading

Our podcast shows being released today and next Wednesday, June 18 feature two former CFPB senior officers who were key employees in the Enforcement Division under prior directors: Eric Halperin and Craig Cowie. Eric Halperin served as the Enforcement Director at the CFPB from 2010 until former Director, Rohit Chopra, was terminated by President Trump.… Continue Reading

The FTC has recently taken action against two student loan debt relief companies and their owners.

In the first case, a federal judge has permanently banned Florida-based Start Connecting LLC and Colombia-based Start Connecting SAS (doing business as USA Student Debt Relief (USASDR)), and their owners and operators Douglas Goodman, Doris Gallon-Goodman, and Juan Rojas from the debt relief industry as well as from participating in any telemarketing.… Continue Reading

The Senate Banking, Housing and Affairs Committee (Banking Committee) would eliminate the CFPB’s current funding source, as part of Committee’s Republican version of its part of the massive budget reconciliation bill, according to legislative language released by the Banking Committee.

Under the existing funding structure, the CFPB may draw up to 12% of the Federal Reserve’s inflation-adjusted total operating expenses in 2009.… Continue Reading

Effective May 1, 2025, the American Arbitration Association (“AAA”) amended its Consumer Arbitration Rules, including Rule 12 dealing with the registration of consumer arbitration clauses.  The AAA stated that its goal was to “clarify” the rules in order to maintain “fairness” and “transparency.”  Nevertheless, the recent Eleventh Circuit in its opinion Merritt Island Woodwerx, LLC v.… Continue Reading