CFPB, Federal Agencies, State Agencies, and Attorneys General
A Trump Administration Committee that is investigating the possible removal of Federal Reserve Board Member Lisa D. Cook will hold a closed hearing on Dec. 14.
The hearing originally was scheduled for Dec. 5, but was postponed because of scheduling conflicts, according to press reports. Trump formed the committee last month.… Continue Reading
“Be careful what you wish for, lest it will come true” Aesop
We will be producing a webinar about the impact of the Midterm Elections and related developments on the consumer financial services industry on December 7 at 1:00 pm, ET. To register, click HERE.
The results of the November 3 midterm elections have dramatically changed the political landscape in Washington.… Continue Reading
The Office of the Comptroller of the Currency (OCC) has taken another important step in addressing the rapidly expanding use of artificial intelligence in the banking industry. On November 4, 2026, the OCC issued a new supervisory framework designed to assist its bank examiners in evaluating banks’ use of what the agency, following the terminology adopted by the Trump Administration, calls “Super Intelligence” (SI).… Continue Reading
New Jersey is signaling a more aggressive approach to the regulation of so-called “junk fees.” In a recent enforcement statement issued by the New Jersey Attorney General and the New Jersey Division of Consumer Affairs, state regulators outlined how they intend to use the New Jersey Consumer Fraud Act to address business practices involving fees that they consider deceptive, unconscionable, or abusive.… Continue Reading
The cost of consumer fraud targeting older adults could have been as high as $119.5 billion in 2025, the FTC said in an annual report to Congress.
The report also outlines the FTC’s outreach efforts to combat fraud against older adults. The Justice Department released a similar annual report.
The FTC report summarizes 2025 findings from the Consumer Sentinel Network which collects reports of fraud and other consumer problems.… Continue Reading
The Office of the Comptroller of the Currency (OCC) has filed on November 2,2026 its reply brief in support of its motion to dismiss, or alternatively transfer to the District of Columbia, a lawsuit brought by Oregon and nine other states challenging two OCC rules issued on May 15, 2026, concerning the preemption of state interest-on-mortgage escrow laws.… Continue Reading
The Consumer Financial Protection Bureau’s newly released Semi-Annual Report to Congress for January–June 2026 offers a revealing account of the Trump Administration’s transformation of the Bureau. The report, released on October 27, 2026, describes an agency that has substantially narrowed its enforcement priorities, abandoned or terminated numerous matters pursued under former Director Rohit Chopra, reduced the scope of its supervisory examinations, and advanced a deregulatory agenda that includes, among other things, significant changes to the Bureau’s fair lending regulations.… Continue Reading
A federal court has shut down a debt relief service that the FTC alleged targeted seniors and veterans by impersonating banks, credit card companies and government agencies.
A $106.8 million default judgment entered in the U.S. District Court for the District of Arizona bans Accelerated Debt Settlement Inc., ADS Resolve LLC, Financial Solutions Group LLC, Unified Capital Services LLC, Mediwerks, Resolution Specialists LLC and Futura Capital and individual defendants from working in the debt relief industry.… Continue Reading
The Ninth Circuit recently affirmed a district court decision denying Rugs.com’s motion to compel arbitration in a putative class action brought by two consumers. Although the plaintiffs’ lawyers have portrayed the decision as a significant victory against forced arbitration, the decision is considerably less consequential than their publicity suggests. It does not announce a new rule governing arbitration agreements or impose any new restrictions on their enforceability.… Continue Reading
The Office of the Comptroller of the Currency (OCC) is taking aim at another potential source of state regulatory interference with federally chartered financial institutions. In an October 29, 2026 letter to the Chair of the California Air Resources Board (CARB), Comptroller of the Currency Jonathan Gould urged California to exempt national banks and federal savings associations from two California climate-disclosure statutes.… Continue Reading
