Dept. of Justice

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As previously reported, in October 2023 the CFPB and DOJ issued a joint statement regarding “the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).” We were critical of the joint statement, and observed that:

“By not providing clear guidance on when the consideration of immigration status can cross the line into improper discrimination based on race or national origin, the agencies make it difficult for us to avoid the conclusion that the agencies’ primary goal in issuing the statement is to scare creditors away from using immigration status in credit decisions.”… Continue Reading

The Consumer Financial Protection Bureau is facing an unprecedented financial crisis—and the consequences could reshape the future of consumer financial protection. On December 10, 2025, Acting CFPB Director Russ Vought informed the U.S. District Court for the District of Columbia that the Bureau will run out of money by year-end unless Congress provides a direct appropriation.… Continue Reading

The CFPB is running out of money and has no legal way to replenish its coffers, absent Congressional appropriation, the Trump Administration told a federal court.

The bureau “anticipates exhausting its currently available funds in early 2026,” the Justice Department told the U.S. District Court for the District of Columbia as part of a lawsuit filed by the National Treasury Employees Union (NTEU).… Continue Reading

A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending.

U.S. District Judge Michael M. Baylson of the U.S. District Court for the Eastern District of Pennsylvania found that continued oversight was needed to make sure the terms of the settlement with ESSA Bank were followed.… 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

A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank (Trustmark) and to dismiss with prejudice the redlining case they brought that resulted in that consent order.

As previously reported, the agencies, along with the Comptroller of the Currency, announced the consent order at the same time that the DOJ announced its initiative to combat redlining.… Continue Reading

We are releasing today on our podcast show a repurposed webinar which we produced on May 13, 2025 entitled “What is happening at the federal agencies (other than the CFPB) that is relevant to the consumer financial services industry.”

During this podcast, we will inform you about recent developments at those other agencies, including the FTC, OCC, FDIC, FRB and DOJ (collectively, the “Agencies”) and the White House (through the issuance of Executive Orders).… 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

Today’s podcast show features a discussion with David Dayen, executive editor of the American Prospect, which is an online magazine about ideas, politics, and power. He’s the author of “Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud,” which was published in 2016. David has written and published about 10 or so articles in which he chronicles in great detail the apparent effort by the Trump Administration, acting through Scott Bessent and Russell Vought, to dismantle the CFPB by abruptly ordering a cessation of all activities and layoffs of probationary and term employees and a plan to layoff 1,300 or so additional employees.… Continue Reading

The Justice Department is asking a federal court to issue a permanent injunction against cash advance firm Dave Inc. and its CEO Jason Wilk, alleging that the company uses misleading marketing tactics to deceive consumers about the amount of its cash advances, charges consumers undisclosed fees, and charges so-called “tips” to consumers without their consent.… Continue Reading