Alan S. Kaplinsky

Subscribe to Alan S. Kaplinsky's Posts
Contact:Read more about Alan S. Kaplinsky

On behalf of the American Bankers Association (ABA) and the Consumer Bankers Association (CBA), Ballard Spahr has submitted an amicus brief to the United States Supreme Court in Coinbase, Inc., et al. v. Kramer, et al., No. 24-1230.  The amicus brief was filed in support of a petition for a writ of certiorari filed by Coinbase which asks the Court to clarify the scope of Federal Arbitration Act (FAA) preemption when California plaintiffs seek public injunctive relief under the “McGill rule” but only a fraction of the general public (typically customers of the defendant) would benefit from the issuance of any such relief.… Continue Reading

Last Friday, the Supreme Court, in a 6-3 opinion in Trump v. CASA, Inc. covering three separate lawsuits that were consolidated for purposes of argument and decision, held that Federal Courts may not grant a universal injunction against the President implementing his Executive Order limiting birthright citizenship. (A “universal injunction” is an injunction which purports to confer benefits on third parties who are not named-plaintiffs in the lawsuit.).… Continue Reading

The OCC has mounted a vigorous defense of federal preemption, calling it “a cornerstone of the dual banking system, under which federally and state-charted banks operate alongside each other.”

“Federal preemption has proven to be a powerful enabler of local and national prosperity and growth,” Acting Comptroller Rodney Hood wrote in a letter to Brandon Milhorn, President and CEO of the Conference of State Bank Supervisors, who called for rescinding the preemption rules.… Continue Reading

Despite massive attempted layoffs and cancellation of third-party vendor contracts, the Trump Administration did not and does not intend to shut down the CFPB, a Justice Department attorney told a federal appeals court on May16 in connection with oral arguments on the government’s appeal of the preliminary injunction issued by the District Court, which essentially required the government to maintain the status quo pending the outcome of the litigation.… Continue Reading

The short answer is that the outcome of the Supreme Court hearing (whose oral argument is scheduled for May 15 at 10 am) is of immense importance to all stakeholders in the consumer financial services industry. We will explain why that is the case.

The Fourteenth Amendment states:  “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.”… Continue Reading

The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025.

Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia last week barred the CFPB from dramatically reducing its staffing, saying she is concerned that CFPB officials are ignoring her earlier order, as modified by the D.C.… Continue Reading

The judge who barred the Trump Administration from dismantling the CFPB says the agency cannot implement plans to fire the majority of the bureau’s employees at this stage.

During a hearing on April 18, Judge Amy Berman Jackson said she is concerned that CFPB officials are ignoring her earlier order that keeps the agency in existence until she rules on the merits of a lawsuit filed by the National Treasury Employees Union challenging plans to dismantle the agency.… Continue Reading

The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta.

The CFPB will focus its enforcement and supervision resources on pressing threats to consumers, particularly servicemembers, their families, as well as veterans, Paoletta wrote, in a memo to bureau employees.… Continue Reading

On Friday, April 11, a panel of the D.C. Circuit Court of Appeals modified Judge Jackson’s preliminary injunction order of March 28 pending appeal, as follows:

  1. Provision two (which required blanket reinstatement of probationary and term employees that were fired by the CFPB) stayed insofar as it requires the CFPB to reinstate employees whom defendants have determined, after an individualized assessment, to be unnecessary to the performance of defendants’ statutory duties.
… Continue Reading