The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to nullify.
The rule had
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House Financial Services Committee finds savings by slashing CFPB budget
The House Financial Services Committee has approved its part of the massive budget bill, saving some $1 billion by, among other things, slashing the CFPB’s budget by more than 60%.
The Committee did so by modifying the bureau’s authority to…
Disparate Impact Executive Order and HUD to Reconsider Disparate Impact Rule
President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD) also has indicated that it intends to…
Ousted Democratic NCUA board members file suit
The two Democratic NCUA board members ousted by President Trump have filed suit, arguing that their firings violated federal law.
Todd Harper and Tanya Otsuka filed suit in the U.S. District Court for the District of Columbia, naming President Donald…
Today’s podcast episode: Private Civil Consumer Financial Services Litigation to Partially Fill CFPB Void – Part 2
The podcast we are releasing today is part 2 of a re-purposed webinar we produced on March 25 titled “The Impact of the Election on the CFPB – Part 4.” As a result of the diminishing impact of the CFPB…
GAO agrees to investigate attempted CFPB firings, other recent bureau actions
The Government Accountability Office has agreed to investigate recent CFPB moves to fire more than 1,400 employees and the impact it and other agency actions have had on the bureau’s ability to operate.
“GAO accepts your request as work that…
Appeals court temporarily bars mass firings at CFPB
The U.S. Circuit Court of Appeals for the District of Columbia has upheld a temporary injunction issued by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia prohibiting the CFPB from firing more than 1,400…
HUD Modifies Exclusive REO Listing Period and Eliminates Exclusive Sales Period
Recently, the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-13 to revise the exclusive listing period for certain parties in connection with HUD real estate owned (REO) properties, and eliminate the exclusive sales period for the…
New York AG sues payday lenders MoneyLion and DailyPay
New York Attorney General Letitia James has sued payday lenders MoneyLion Inc. and DailyPay Inc. in New York state court, alleging that the two companies took advantage of tens of thousands of New Yorkers.
Both companies make paycheck advance loans…
VA Winding Down VASP Program
As previously reported, last year the U.S. Department of Veterans Affairs (VA) launched a Veterans Affairs Servicing Purchase (VASP) program, which VA characterized as a “last-resort tool” for VA home loan borrowers facing severe financial hardships. Pursuant to the…