Apparently building off the comments it received about complaint intake as well as its prior revisions to the complaint portal, on June 24, 2026, the Consumer Financial Protection Bureau (CFPB) issued a press release announcing a series of significant reforms to its consumer complaint system, particularly with respect to credit reporting complaints.… Continue Reading

At a May 19, 2026 Ballard Spahr webinar, “Cutting Out the Middleman: The Surge in FinTech Applications to Charter Banks, Industrial Banks and National Trust Companies,” a distinguished panel of banking, fintech, crypto, and consumer financial services professionals explored one of the most important developments currently reshaping the financial services industry: the growing movement by fintech companies, payments firms, lenders, and crypto-native businesses to obtain their own banking charters rather than relying on traditional bank partnerships.… Continue Reading

The Aspen Institute’s Financial Security Program has announced a significant new initiative designed to address what many now view as one of the most pressing consumer protection challenges facing the United States: the explosion of fraud and scams targeting American consumers.

The newly launched Scam Prevention Initiative builds upon the work of the Aspen Institute’s National Task Force on Fraud and Scam Prevention and reflects an increasingly broad consensus that scams can no longer be viewed solely as an issue for consumers or financial institutions to solve on their own.… Continue Reading

Senator Elizabeth Warren (D-MA), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, joined by Senators Raphael Warnock (D-GA), Andy Kim (D-NJ), and Lisa Blunt Rochester (D-DE), recently sent a detailed letter to CFPB Acting Director Russell Vought seeking explanations for the agency’s removal of thousands of webpages and other materials from the CFPB’s website.… Continue Reading

Only days after the en banc U.S. Court of Appeals for the District of Columbia Circuit issued a limited remand in National Treasury Employees Union v. Vought, U.S. District Judge Amy Berman Jackson has moved promptly to begin proceedings concerning whether the preliminary injunction currently governing the Consumer Financial Protection Bureau (“CFPB”) should be modified, suspended, or dissolved.… Continue Reading

In a significant procedural development in the ongoing litigation over the future of the Consumer Financial Protection Bureau (“CFPB”), the en banc U.S. Court of Appeals for the District of Columbia Circuit has issued an order granting a limited remand to the district court in National Treasury Employees Union v. Vought, while denying the CFPB’s request to immediately modify the stay pending appeal.… Continue Reading

The New Jersey Attorney General and Division of Consumer Affairs recently issued a comprehensive Enforcement Statement signaling an aggressive enforcement posture toward so-called “junk fees” under the New Jersey Consumer Fraud Act (CFA). The Enforcement Statement was issued in conjunction with Governor Mikie Sherrill’s Executive Order No. 19, which directs state agencies to review and recommend measures to eliminate or reduce junk fees across a broad range of industries.… Continue Reading

The CFPB has adopted new Enforcement Principles designed to roll back standards used by the Biden Administration.

The bureau recently applied the new principles in attempting to ensure that customers affected by Bilt’s transition of its credit card services to a new bank partner were not harmed by the change. The CFPB stated that “[h]ere, instead of initiating a protracted investigation, followed by a public enforcement action, which could be litigated for years before consumers get any redress, as the Biden CFPB would have done under the former Director Chopra, this leadership engaged with Bilt directly and collaboratively.… Continue Reading

On May 12, 2026, we produced a 90-minute webinar in which we explored one of the most important and rapidly developing issues in consumer financial services law: coerced debt and the emerging legislative efforts designed to address it. The webinar has been re-purposed into a two-part podcast series, the first of which was released this past Thursday, June 11th, and the second of which is being released today, Thursday, June 18th.… Continue Reading

Banking trade groups uniformly support the nomination of former CFPB executive Brian Johnson to head the bureau.

“Brian has a distinguished track record in bank regulatory policy both at the Bureau and on Capitol Hill, and he will bring a thoughtful approach to setting the Bureau’s priorities in the years ahead if confirmed,” said Rob Nichols, President/CEO of the American Bankers Association.… Continue Reading