Alan S. Kaplinsky

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Contending that the Biden Administration’s investigation of Credova Financial LLC was an instance of politically motivated debanking, the CFPB is dropping its probe of the company.

“After reviewing the case, the Bureau has determined that this investigation exemplifies the type of weaponization against disfavored industries and individuals that President Trump and Acting Director Vought are committed to ending,” Mark Paoletta, chief legal officer of the CFPB wrote in a letter to James Giudice, general counsel and chief legal officer at PSQ Holdings, Credova’s parent company.… Continue Reading

We have previously blogged about the August 15 DC Circuit Court opinion in the lawsuit filed months ago by the labor unions representing CFPB Employees against the Acting Director of the CFPB, Russell Vought, seeking injunctive relief related to the alleged “shut down” of the agency. As reported, the Court of Appeals, by a 2-1 majority, vacated a preliminary injunction granted by the District Court which, among other things, had precluded the CFPB from implementing a reduction-in-force (“RIF”) which would have left the CFPB with only 200 employees to perform its statutorily-mandated functions.… Continue Reading

Todd Harper and Tanya Otsuka will not be reinstated to the NCUA board while the District of Columbia Court of Appeals considers whether their firing by the Trump Administration is illegal, a panel of the court has decided.

The two already had been barred from the board through a temporary administrative hold, pending further court order.… Continue Reading

The Trump Administration can, among other things, resume plans to begin firing more than 1,400 employees at the CFPB, two judges on the U.S. Court of Appeals for the District of Columbia ruled last Friday.

In a 2-1 majority opinion, the D.C. Circuit dissolved a preliminary injunction issued by District Court Judge Amy Berman Jackson.… Continue Reading

As we previously reported, on August 7, 2025, President Trump issued an Executive Order (the “EO”) titled “Guaranteeing Fair Banking for All Americans” which, among other things, seeks to prohibit depository institutions and other companies from discriminating against potential and existing customers of any and all banking and other consumer financial services products and services (not just loans or extensions of credit) based on their political or religious beliefs or their conducting businesses as long as they are lawful.… Continue Reading

President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process known as “debanking.”

“Individuals, their businesses, and their families have been subjected to debanking on the basis of their political affiliations, religious beliefs or lawful business activities, and have suffered frozen payrolls, debt and crushing interest, and other significant harms to their livelihoods, reputations, and financial well-being,” Trump said, in the order.… Continue Reading

The reinstatement of two Democratic NCUA board members has been put on hold by the U.S. Circuit Court of Appeals for the District of Columbia.

In a short order, a three-judge panel of the court ruled that the reinstatement of Todd Harper and Tanya Otsuka should be paused, at least temporarily.… Continue Reading

An ex parte temporary restraining order has been issued against the participants in a debt relief services scheme that allegedly targeted seniors, including veterans, using a variety of deceptive practices, including falsely impersonating consumers’ banks and credit card companies.

Susan M Brnovich of the U.S. District Court for the District of Arizona issued the restraining order at the request of the Federal Trade Commission (“FTC”).… Continue Reading

Two reinstated National Credit Union Administration (NCUA) board members participated in a board meeting on July 24, even as the Supreme Court signaled that three Democratic members of the Consumer Product Safety Commission (CPSC) could be fired without cause in the context of granting a stay of a lower court order reinstating them to CPSC.… Continue Reading

A Federal Judge has ruled that two NCUA board members were illegally fired by President Trump and has restored their positions on the board.

Judge Amir H. Ali, of the U.S. District Court for the District of Columbia said that Democrats Todd Harper and Tanya Otsuka could only be removed for cause.… Continue Reading