CFPB, Federal Agencies, State Agencies, and Attorneys General
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
The Senate parliamentarian has ruled that a key Senate Banking, Housing and Urban Affairs (Banking Committee) provision that would eliminate all funding for the CFPB cannot be included in the massive budget reconciliation bill now being prepared for Senate consideration.
Under the existing funding structure, the CFPB may draw up to 12% of the Federal Reserve’s inflation-adjusted total operating expenses in 2009.… Continue Reading
A debt collector company, Blackstone Legal, its associated companies and its owners, Ryan and Mitchell Evans, are facing a permanent ban from the debt collection business as a result of an FTC lawsuit charging that they deceived and harassed consumers to collect debts the consumers did not owe.
In February 2025, the FTC charged Blackstone Legal and its associated companies and owners with convincing consumers to pay fake debts.… Continue Reading
As previously reported, in addressing the fact that current stays of the section 1071 small business data collection and reporting rule only apply to the applicable plaintiffs, intervenors and their members, the CFPB advised in May 2025 that it would not make enforcement of the rule a priority in order to provide relief to parties not covered by any court stay of the rule.… Continue Reading
Our podcast show being released today is Part 2 of our two-part series featuring two former CFPB senior officers who were key employees in the Enforcement Division under prior directors: Eric Halperin and Craig Cowie. Eric Halperin served as the Enforcement Director at the CFPB from 2010 until former Director, Rohit Chopra, was terminated by President Trump.… 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
The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair Housing Act and Equal Credit Opportunity Act. The motion also seeks the dismissal with prejudice of the case that the DOJ brought that resulted in that consent order.… Continue Reading
As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB allegations of redlining on the part of Townstone in violation of the Equal Credit Opportunity Act (ECOA).… Continue Reading
The House Financial Services Committee has approved a bill that would restrict the use of “trigger leads” in the mortgage industry.
The committee approved H.R. 2808, the Homebuyers Privacy Protection Act in a 46-0 vote. Companion legislation has been introduced in the Senate; no action has been taken on the legislation in that body.… Continue Reading
Our podcast shows being released today and next Wednesday, June 18 feature two former CFPB senior officers who were key employees in the Enforcement Division under prior directors: Eric Halperin and Craig Cowie. Eric Halperin served as the Enforcement Director at the CFPB from 2010 until former Director, Rohit Chopra, was terminated by President Trump.… Continue Reading
