CFPB, Federal Agencies, State Agencies, and Attorneys General
The CFPB has extended the comment period for its Notice of Proposed Rulemaking on data brokers until April 2, 2025; the comment period had been slated to expire on March 3, 2025
The bureau said it was extending the comment period to allow interested persons more time to consider and submit their comments on the rule.… Continue Reading
A federal judge has issued a preliminary injunction against Seek Capital and its founder and CEO, Roy Ferman, barring the company from making false claims and forbidding the company from contacting any consumers whose information the company obtained before February 20, 2025.
U.S. District Judge G. Gary Klausner of the Central District of California, issued the injunction at the request of the FTC.… Continue Reading
In a significant ruling on February 18, 2025, the Wisconsin Court of Appeals determined that the National Bank Act (NBA) does not preempt the procedural “right to cure” notice requirements mandated by the Wisconsin Consumer Act (WCA), reversing a judgment in two debt collection actions.
The court, thereby, determined that this state-level consumer protection was not preempted by the NBA.… Continue Reading
The Chairmen of the House and Senate committees with jurisdiction over banking issues have introduced Congressional Review Act resolutions to nullify the CFPB’s overdraft rule.
House Financial Services Committee Chairman Rep. French Hill, R-Ark., introduced H.J. Res 59 and Senate Banking Committee Chairman Sen. Tim Scott, R-S.C. introduced S.J Res 18 to void the rule.… Continue Reading
Earlier today Jonathan McKernan, President Trump’s nominee to head the CFPB, pledged that the agency would “implement and enforce the federal consumer financial laws and perform each of its other statutorily assigned functions.”
The comment, made during his confirmation hearing before the Senate Banking Committee, came in stark contrast to the Trump Administration’s previous statements that it intends to take the actions necessary to dismantle the CFPB.… Continue Reading
Our podcast show today features Gregory M. Dickinson, Assistant Professor of Law at the University of Nebraska, who was previously a guest on our show on August 3, 2023. Our 2023 episode was based on Professor Dickinson’s article titled “Privately Policing Dark Patterns”, 57 Ga. L. Rev. 1633 (2023). The show today focuses on Professor Dickinson’s more recent article, which builds on his 2023 article, titled “The Patterns of Digital Deception”, 65 B.… Continue Reading
President Trump has issued an Executive Order that requires agencies to review all regulations “for consistency with law and Administration policy.”
In issuing the order, Trump said, “It is the policy of my Administration to focus the executive branch’s limited enforcement resources on regulations squarely authorized by constitutional Federal statutes, and to commence the deconstruction of the overbearing and burdensome administrative state.”… Continue Reading
Saying that independent agencies “have exercised enormous power over the American people without Presidential oversight,” President Trump has issued an Executive Order placing those agencies under his control.
While Trump specifically mentioned the FTC, FCC and SEC, the definition of “agency” used in the order also includes such financial regulators as the FDIC, OCC, CFPB and NCUA.… Continue Reading
On February 18, 2025, the U.S. Court of Appeals for the Eighth Circuit—following up on its August 2024 unsigned order—resolved an expedited appeal concerning a district court injunction preventing the U.S. Department of Education from proceeding with implementation of its much-debated SAVE repayment plan. The opinion, which affirms the district court, calls into question the legality of not only the SAVE plan itself, but also existing income-contingent repayment (“ICR”) plans such as PAYE and REPAYE.… Continue Reading
Oregon may become the latest state attempting to stop out-of-state banks from “exporting” home-state interest rates on loans made to Oregon consumers. Like similar legislation adopted by Colorado in 2023, House Bill 2561 explicitly provides that the state does not want certain provisions of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) to apply to loans made in Oregon.… Continue Reading
