In June 2020, the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel (collectively, the “Plaintiffs”) filed a lawsuit in the Massachusetts federal district court challenging the legality of the Consumer Financial Protection Bureau’s Taskforce on Federal Consumer Financial Law (the “Taskforce”).  The crux of the Complaint alleges that the

NACA is one of the plaintiffs in the Massachusetts lawsuit challenging the CFPB’s creation of its Taskforce on Federal Consumer Financial Law.   Mr. Rheingold discusses the legal basis for the lawsuit, NACA’s views on how the CFPB should approach modernization of federal consumer financial laws, and NACA’s support for federal legislation or new CFPB rulemaking

A magistrate judge has denied the CFPB’s motion for partial dismissal of the lawsuit filed in a Massachusetts federal district court challenging the creation of the CFPB’s Taskforce on Federal Consumer Financial Law.  The plaintiffs in the lawsuit are the National Association of Consumer Advocates (NACA), U.S. Public Interest Research Group (U.S. PIRG), and Professor

In Part II of our two-part podcast, we look at the recommendations in the Taskforce’s report concerning the use of principles-based (rather than prescriptive) regulations and CFPB licensing of non-depository institutions providing lending, money transmission or payment services.  We share our reactions to the recommendations, consider their practical implications for the industry, and discuss how

In Part I of our two-part podcast, after discussing the Taskforce’s goals and background, we look at the recommendations in the Taskforce’s report concerning artificial intelligence, limited English proficiency consumers, and fair lending, share our reactions to the recommendations, and consider the recommendations’ practical implications for the consumer finance industry.

Ballard Spahr attorney Alan Kaplinsky

The CFPB’s Taskforce on Federal Consumer Financial Law released its report making recommendations on how to improve consumer protection in the financial marketplace.

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws.  The Taskforce was charged with examining the existing legal and regulatory environment for

The plaintiffs in the lawsuit filed in Massachusetts federal district court challenging the CFPB’s creation of its Taskforce on Federal Consumer Financial Law have filed their opposition to the CFPB’s motion seeking the lawsuit’s partial dismissal.

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial laws. 

The CFPB has filed a motion seeking the partial dismissal of the lawsuit filed in Massachusetts federal district court by the National Association of Consumer Advocates, U.S. Public Interest Research Group, and Professor Kathleen Engel challenging the CFPB’s creation of its Taskforce on Federal Consumer Financial Law.

The CFPB created the Taskforce in October 2019

The CFPB has published a request for information (RFI) in today’s Federal Register seeking comments and information to assist its Taskforce on Federal Consumer Financial Law.  Comments on the RFI must be received by June 1, 2020.

The CFPB created the Taskforce in October 2019 to examine ways to harmonize and modernize federal consumer financial

The CFPB has announced the initial four members of its Taskforce on Federal Consumer Financial Law.  This past October, the Bureau announced its plans to establish the Taskforce to examine ways to harmonize and modernize federal consumer financial laws.

The four members include Todd J. Zywicki, Professor of Law at George Mason University’s Antonin Scalia