On March 26, 2024, the plaintiffs in the lawsuit challenging the CFPB’s final credit card late fee rule (“Final Rule”) filed a Notice Regarding Their Emergency Motion for Injunction Pending Appeal and Administrative Stay in the Fifth Circuit. Plaintiffs, who
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Opt-out challenge case assigned to Colorado federal Judge Daniel D. Domenico
As we previously reported, on March 25, 2024, three consumer financial services industry trade groups filed a lawsuit in federal district court in Colorado challenging legislation recently adopted to opt out of rate exportation rights afforded to state banks…
CFPB Addresses ASC Appraisal Bias Hearings and Structure of The Appraisal Foundation
The CFPB published a blog discussing a few key takeaways from a series of public hearings addressing appraisal bias.
For background, the Federal Financial Institution Examination Council’s (FFIEC’s) Appraisal Subcommittee (ASC) has held four public hearings throughout 2023-2024 to facilitate…
Texas federal court sets April 2 hearing on plaintiffs’ preliminary injunction motion in lawsuit challenging CFPB final credit card late fee rule; plaintiffs file notice of appeal following denial of motion for expedited consideration of preliminary injunction motion; CFPB moves to transfer venue to D.C. federal court
The Texas federal district court hearing the lawsuit challenging the CFPB’s final credit card late fee rule (Rule) issued an order today setting April 2 as the date for a hearing on the plaintiffs’ motion for a preliminary injunction. Yesterday,…
Colorado interest rate preemption opt-out challenged in federal court
On March 25, 2024, three consumer financial services industry trade groups filed a lawsuit asking the federal district court in Colorado to strike down recent Colorado legislation purporting to opt out of a federal law that allows FDIC-insured state-chartered banks…
2023 HMDA Modified Loan Application Data Published
The CFPB recently announced the publication of the Home Mortgage Disclosure Act (HMDA) Modified Loan Application Data for 2023. The data is available on the Federal Financial Institutions Examination Council (FFIEC) website. As was the case with the 2022…
CFPB encourages New York to ban unfair or abusive conduct
On March 19, 2024, the Consumer Financial Protection Bureau (“CFPB”) published a blog touting letters it has sent to New York Governor Kathy Hochul, New York State Senate leaders, and New York State Assembly leaders to highlight the importance…
Court denies motion for expedited consideration of plaintiff’s preliminary injunction motion in credit card late fees suit
On March 20, 2024, the court forcefully denied the motion for expedited consideration of plaintiff’s preliminary injunction motion in the lawsuit challenging the Consumer Financial Bureau’s (“CFPB”) final credit card late fee rule. Plaintiffs, including the U.S. Chamber of…
This week’s podcast episode: Telephone Consumer Protection Act update: Developments impacting consent and lead generation
New Federal Communications Commission TCPA rules will mean big changes for businesses, particularly comparison shopping websites, lead generators, and other companies that regularly contact consumers via phone or text message. This episode repurposes a recent webinar. After reviewing TCPA consent…