CFPB, Federal Agencies, State Agencies, and Attorneys General
The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025.
Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia last week barred the CFPB from dramatically reducing its staffing, saying she is concerned that CFPB officials are ignoring her earlier order, as modified by the D.C.… Continue Reading
The judge who barred the Trump Administration from dismantling the CFPB says the agency cannot implement plans to fire the majority of the bureau’s employees at this stage.
During a hearing on April 18, Judge Amy Berman Jackson said she is concerned that CFPB officials are ignoring her earlier order that keeps the agency in existence until she rules on the merits of a lawsuit filed by the National Treasury Employees Union challenging plans to dismantle the agency.… Continue Reading
The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta.
The CFPB will focus its enforcement and supervision resources on pressing threats to consumers, particularly servicemembers, their families, as well as veterans, Paoletta wrote, in a memo to bureau employees.… Continue Reading
At the request of both sides of the lawsuit, a federal judge has voided the CFPB’s credit card late fee rule.
“The parties agree that, in the Late Fee Rule, the Bureau violated the CARD Act by failing to allow card issuers to ‘charge penalty fees reasonable and proportional to violations,’” Judge Mark T.… Continue Reading
Republicans on the House Financial Services Financial Institutions Subcommittee have sent Acting CFPB Director Russell Vought a letter calling for the CFPB to withdraw a wide variety of final and proposed rules.
In addition, the GOP members are calling for the CFPB to withdraw guidance documents, circulars, interpretive rules, and advisory opinions that did not go through the comment period required under the Administrative Procedure Act.… Continue Reading
The resolution to nullify the CFPB’s overdraft rule now is in President Trump’s hands.
The House on Wednesday adopted H. J. Res. 18 by a vote of 217-211. The Senate already has adopted the resolution, which now goes to the President for his signature. Trump is expected to sign the measure.… Continue Reading
The Circuit Court of Appeals for the District of Columbia has issued an administrative stay of a judge’s order blocking wholesale changes at the CFPB.
The three-judge panel said the administrative stay means the CFPB is returned to the state it was in before U.S. District Judge Amy Berman Jackson issued an order blocking the possible dismantling of the CFPB.… Continue Reading
As we have reported previously, including here, here, and here, the CFPB’s section 1071 small business loan data collection and reporting rule is facing court challenges. The U.S. Court of Appeals for the Fifth Circuit has stayed compliance with the rule for many financial institutions.
Most recently, the CFPB filed a response to a motion for a stay by the Revenue Based Finance Coalition in the lawsuit before the U.S.… Continue Reading
Our special podcast show today deals primarily with a 112-page opinion and 3-page order issued on March 28 by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia in a lawsuit brought, among others, by two labor unions representing CFPB employees against Acting Director Russell Vought.… Continue Reading
Contending that the Trump Administration still intends to dismantle the CFPB, a federal judge on Friday issued a temporary injunction prohibiting the administration from firing employees without cause, prohibiting it from enforcing the stop work order or forcing employees to take administrative leave, and requiring it to provide employees with the means to perform their statutorily mandated functions.… Continue Reading
