The Fifth Circuit has entered an order staying the compliance date of the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) until 286 days after the trade groups’ appeal is resolved.

The trade groups have appealed from the district court’s final judgment granting the CFPB’s summary judgment motion and

The Texas federal district court has denied the motion of the two trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule for an extension of its stay of the compliance date until 286 days after their appeal to the Fifth Circuit is resolved.  The trade groups have appealed

The CFPB has filed its opposition to the motion of the two trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) that asks the court to extend its stay of the compliance date until 286 days after their appeal to the Fifth Circuit is resolved.  The

The two trade groups challenging the payment provisions in the CFPB’s 2017 final payday/auto title/high-rate installment loan rule have filed an appeal with the Fifth Circuit from the Texas federal district court’s final judgment granting the CFPB’s summary judgment motion and staying the compliance date for the payment provisions until 286 days after August 31,

More than eight months after the close of briefing, the Texas federal district court has finally ruled in the challenge by two industry trade groups to the CFPB’s Payments Rule.  The court’s award of summary judgment to the CFPB on the constitutional challenges to the Rule was predictable.  We are disappointed that the court failed

The CFPB and the two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) have filed responses with the Texas federal court  regarding a compliance date for the 2017 Rule’s payment provisions.

The responses reply to the briefs filed by the parties following the court’s issuance of an order requesting

The Texas federal district court hearing the lawsuit filed by two trade groups challenging the CFPB’s 2017 final payday/auto title/high-rate installment loan rule (2017 Rule) has entered an order directing the parties to files briefs regarding a compliance date for the 2017 Rule’s payment provisions.  The order states that the court requests the additional briefing

We discuss the practices found to be unlawful by CFPB examiners in the areas of deposits, auto servicing, and payday lending, identify practical takeaways for avoiding criticism by the “new CFPB,” and share our thoughts on what the findings signal for future scrutiny in these areas by the “new CFPB.”

Ballard Spahr Senior Counsel Alan

The CFPB has filed a motion to lift the stay of the compliance date for the payment provisions in its 2017 final payday/auto title/high-rate installment loan rule (2017 Rule).

In May 2018, the Texas federal district court hearing the lawsuit filed by two trade groups challenging the 2017 Rule entered an order staying the lawsuit. 

A Florida federal district court has dismissed a lawsuit filed by a borrower alleging FCRA violations by Clarity Services, Inc. (Clarity), the consumer reporting agency that provided the borrower’s consumer report to her lender.  In dismissing the plaintiff’s FCRA claims, the district court rejected the plaintiff’s argument that the FCRA requires a consumer reporting agency,