CFPB, Federal Agencies, State Agencies, and Attorneys General
A federal judge has issued an injunction delaying the compliance dates of the CFPB’s open banking rule (“Rule”).
In issuing the injunction, U.S. District Judge Danny C. Reeves of the U.S. District Court for the Eastern District of Kentucky said the bureau has said it is rewriting the Rule that was issued during the Biden Administration.… Continue Reading
The CFPB has formally rescinded its rule creating a registry for nonbank enforcement actions.
The rule, proposed during the Biden Administration, would have required certain nonbank entities to register certain covered enforcement or court orders, and comply with ongoing, attested reporting requirements on the entity’s compliance with such orders.
The repeal was effective on October 29, 2025.… Continue Reading
Democrats on the Senate Banking, Housing and Urban Affairs Committee are accusing Acting CFPB Director Russell Vought of trying to shut down the CFPB by starving it of funding.
“You have…let the fiscal year pass without having requested any funding for the CFPB to perform its work, an unprecedented approach that threatens to leave the agency unable to fulfill its many statutory obligations on behalf of consumers across the country,” the Democrats, led by ranking Democratic Sen.… Continue Reading
The CFPB has issued an interpretive rule that says the federal Fair Credit Reporting Act (FCRA) preempts states from regulating broad areas of credit reporting.
“Congress meant to occupy the field of consumer reporting and displace [state] laws within that field,” the bureau said, in the rule that went into effect on October 28.… Continue Reading
Contending that it cannot abolish the CFPB on its own, the Trump Administration said that the union arguing that such a plan exists should not be entitled to an en banc hearing before an appeals court.
“Although factual disputes exist surrounding those actions, all the parties and both the majority and dissenting opinions agree that the Executive Branch lacks power to unilaterally abolish [the] CFPB based on policy disagreements with Congress’s choices,” the Justice Department said, in response to the request for an en banc hearing filed by the National Treasury Employees Union in the U.S.… Continue Reading
A federal appeals court has rejected the Trump Administration’s request to delay its response to an en banc hearing request in the lawsuit challenging the mass firings at the CFPB due to the government shutdown.
The National Treasury Employees Union (NTEU), which is challenging the firings, had not opposed the Administration’s request.… Continue Reading
Saying that the federal government shutdown makes it impossible for them to work on the case, Justice Department attorneys are asking a federal appeals court to delay its response to a request for an en banc hearing in the lawsuit challenging mass firings at the CFPB.
“At the end of the day on September 30, 2025, the appropriations act that had been funding the Department of Justice expired and appropriations to the Department lapsed,” the attorneys told the U.S.… Continue Reading
We are pleased to share a new podcast episode, which was taken from our September 9, 2025, webinar featuring Malini Mithal, Associate Director of the Federal Trade Commission’s Division of Financial Practices. Malini has been a valued guest on our podcast in past years, and this session provided another timely and insightful discussion.… Continue Reading
Contending that the decision of a divided three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia would lead to a shutdown of the CFPB by the Trump Administration, plaintiffs in a lawsuit challenging proposed Reductions-in-Force at the bureau are asking for an en banc rehearing in the case before all of the active judges of the D.C… Continue Reading
Last month, New York Attorney General Letitia James sued Early Warning Services, LLC (EWS), the company that operates the Zelle Network, for allegedly failing to protect its users from fraud. The complaint, much of which was filed under seal, claims that EWS harmed consumers by creating “a payment network that was highly susceptible to fraudulent activity, that lacked the basic network safeguards, and that exposed millions of consumers to widespread fraud.”… Continue Reading
