Search CRA

Charging that Acting CFPB Director Russell Vought has been attempting to close down the CFPB by any means necessary, Democratic Attorneys Generals (AGs) from 21 states and the District of Columbia have filed suit, asking a federal court to require Vought to seek State AGs file suit to force CFPB to request funding from the Federal Reserve funds from the Federal Reserve to operate the bureau. … Continue Reading

Join host Alan Kaplinsky, founder and former longtime leader of Ballard Spahr’s Consumer Financial Services Group and one of the foremost thought leaders in the industry, as he welcomes two special guests for a timely and insightful conversation about the most significant deregulatory developments in banking law during 2025.

Alan is joined by his Ballard Spahr colleague Scott Coleman, a partner with more than 30 years of experience guiding banks and bank holding companies through mergers, acquisitions, and all facets of regulatory compliance, especially in the community banking sector.… Continue Reading

As required by amendments to the FDCPA made by Section 1089 of Dodd Frank, the CFPB recently released its annual report to Congress on FDCPA compliance. We note below information provided by the bureau about the complaints it received in 2024, the results of examinations publicly reported in 2024, and enforcement actions by other agencies. … Continue Reading

The Progressive State Leaders Committee has tapped former CFPB Director Rohit Chopra to head a new Consumer Protection and Affordability Working Group. The Group is the 501(c) (4) affiliate of the Democratic Attorneys General Association.

“As part of its greater effort to tackle unfair and anticompetitive practices that drive up the cost of living and to protect consumers by filling essential gaps created by the enforcement failures of the Trump administration, the Consumer Protection and Affordability Working Group’s main priorities will be to promote a fair economy, make life more affordable for Americans, protect people’s personal data, and defend consumers from online abuses,” the committee said, in announcing the choice.… Continue Reading

The Supreme Court should abandon a 90-year-old precedent and decide that President Trump should be permitted to fire Rebecca Slaughter from the Federal Trade Commission without cause, Solicitor General D. John Sauer told the Court on December 8 during oral arguments.

“I think broad delegations to unaccountable independent agencies raise enormous constitutional and real-world problems for individual liberty,” Justice Brett Kavanaugh, said.… Continue Reading

In Fiscal Year 2026, ending September 30, 2026, the CFPB will need $279.6 million just to maintain its activities that are required by law, Bureau Acting Director Russell Vought wrote in letters to House and Senate appropriators and President Trump.

Under Section 1017 of Dodd Frank, the CFPB may be funded only from the “combined earnings” of the Federal Reserve System (see here, here, and here; see our Podcast here).… Continue Reading

The trade group representing debt collection agencies, creditors, debt buyers, collection attorneys, and debt collection industry service providers has filed suit challenging the Colorado law that bans the inclusion of medical debts in credit reports.

ACA International is joined by one of its members, the Fresno Credit Bureau, in the suit against Martha Fulford, the Colorado Uniform Consumer Credit Code Administrator. … Continue Reading

The CFPB is transferring all of its pending litigation to the Justice Department as a result of the funding crisis the Trump Administration has said the bureau faces, several news organizations have reported.

In addition, at a meeting on Thursday, Michael Salemi, the CFPB’s acting director of enforcement, said that more than 100 people will be furloughed because the CFPB is running out of money, The American Banker reported.… Continue Reading

On November 10, 2025, the U.S. Court of Appeals for the Tenth Circuit, in a 2–1 decision, issued its opinion in National Association of Industrial Bankers et al. v. Weiser. 

In resolving what it described as “an issue of first impression,” the court held that Section 27 of the Federal Deposit Insurance Act (FDIA) does not preempt the interest rate limitations imposed on state banks by a state that has elected to exercise its right under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) to opt-out of Section 27 with respect to “loans made in such State.” Section… Continue Reading

The FDIC has announced that its Consumer Compliance Examination Manual has been revised to reflect an updated examination schedule for financial institutions. As a result, agency consumer compliance examinations and Community Reinvestment Act (CRA) evaluations will occur less frequently for most institutions, according to the FDIC.

Institutions will generally be on an examination cycle of 66-78 months, 54-66 months, or 24-36 months, depending on the asset size of the institution and its Consumer Compliance Rating.… Continue Reading