Search results for: CRA

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

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

The two Democratic NCUA board members ousted by President Trump have filed suit, arguing that their firings violated federal law.

Todd Harper and Tanya Otsuka filed suit in the U.S. District Court for the District of Columbia, naming President Donald Trump, Treasury Secretary Scott Bessent, NCUA Chairman Kyle Hauptman and others as defendants.… Continue Reading

The two Democratic FTC members who were fired by President Trump have filed suit in federal court challenging their dismissal.

Alvaro Bedoya and Rebecca Slaughter filed suit in U.S. District Court for the District of Columbia contending that their dismissals were illegal since the FTC is supposed to be an independent agency.… Continue Reading

President Trump on Tuesday fired the remaining two Democratic members of the FTC, leaving only two Republicans on the commission.

The commissioners, Alvaro Bedoy and Rebecca Slaughter, announced their dismissals on social media. Both called their dismissals illegal, since the FTC is supposed to be an independent agency. Both of them called their firings illegal and Bedoy already has said he would challenge his dismissal in court.… Continue Reading

The Trump Administration’s efforts to “effectively shutter the CFPB” amounts to a “total dereliction of all mandatory statutory duties,” that will harm state consumer protection efforts, Democratic state attorneys general have told a Washington, D.C. federal judge.

“The CFPB has, to date, been an invaluable partner to many States in performing a variety of consumer-protection functions mandated by Congress,” the 23 state officials said, in an amicus brief in a suit filed by the National Treasury Employees Union.… Continue Reading

Using the Congressional Review Act, the Senate has voted to nullify a CFPB final rule that would subject large cash apps to the bureau’s supervision.

The Senate voted 51-47 to adopt S.J. Res 28, a resolution that under the CRA, was not subject to a filibuster. The House has not yet considered a companion resolution.… Continue Reading

More than 185 Democrats in the House and Senate are urging Trump Administration officials to restore the enforcement and supervisory powers of the CFPB.

“The Trump Administration has effectively fired the financial cop on the beat and declared open season for predatory lenders and scam artists working to steal Americans’ money and threaten their financial security,” the Democrats wrote, in a joint letter to Russell Vought, acting director of the CFPB and director of the Office of Management and Budget, and Treasury Secretary Scott Bessent, who served as acting director of the bureau for a short period of time.… Continue Reading

The CFPB has proposed a rule that it promotes as ensuring that Fair Credit Reporting Act (FCRA) protections are applied to sensitive consumer information that the statute was designed to protect, including information sold by data brokers. However, the proposal is much broader than a data broker rule and could have far reaching implications, including what is considered a consumer report, who is considered a consumer reporting agency, and specific requirements to qualify for the written authorization permissible purpose that are not provided for in the FCRA. … Continue Reading