The podcast we are releasing today is part 1 of a re-purposed webinar we produced on March 25 titled “The Impact of the Election on the CFPB – Part 4.” As a result of the diminishing impact of the CFPB on enforcing the consumer financial services laws, we expect that void to be filled by state government enforcement agencies and private civil litigation, including class and mass actions.… Continue Reading

In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims requirements and loss mitigation options for FHA insured mortgage loans effective February 2, 2026.  

HUD recently issued Mortgagee Letter  2025-12 further revising the requirements and options effective October 1, 2025.… 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

It was reported last night that the CFPB had laid off about 90% of its staff. This came on the heels of the CFPB providing each of its employees with its 2025 Supervisory and Enforcement Priorities which calls for a much narrower mission for the CFPB than under former Director Chopra.… 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

Our podcast show being released today is part 2 of a repurposed interactive webinar that we presented on March 24 featuring two of the leading journalists who cover the CFPB – Jon Hill from Law360 and Evan Weinberger from Bloomberg.

Our show begins with Tom Burke, a Ballard Spahr consumer financial services litigator, describing in general terms the status of the 38 CFPB enforcement lawsuits that were pending when Rohit Chopra was terminated.… Continue Reading

At the request of both sides of the lawsuit, a federal judge has voided the CFPB’s credit card late fee rule.

“The parties agree that, in the Late Fee Rule, the Bureau violated the CARD Act by failing to allow card issuers to ‘charge penalty fees reasonable and proportional to violations,’” Judge Mark T.… Continue Reading

Legislation to prohibit so-called “trigger leads” in the homebuying process once again has been reintroduced in the House and Senate.

“Trigger leads” are controversial for both consumers and mortgage industry participants. When a mortgage lender orders a credit report on a consumer, the credit bureau providing the report may then alert various other mortgage lenders who have subscribed to a service of that fact, which is a good indication that the consumer is seeking a mortgage loan.… Continue Reading

Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules.

In addition, the GOP members are calling for the CFPB to withdraw guidance documents, circulars, interpretive rules, and advisory opinions that did not go through the comment period required under the Administrative Procedure Act.… Continue Reading