Mar 27, 2024 | Litigation, News
Consumer Financial Services Industry Trade Groups File Lawsuit Asking Court to Strike Down Colorado DIDMCA Opt-Out Last year, the Colorado legislature passed, and Governor Jared Polis signed into law, Colorado HB23-1229, which opted the state out of Section 521 of the...
Mar 21, 2024 | Federal Regulation, Litigation, News
Trade Groups Challenge CFPB Credit Card Rule in Court, CFPB Accuses Them of “Forum Shopping” for Favorable Judge At the beginning of March, the Consumer Financial Protection Bureau (CFPB) finalized its rule cutting the typical credit card late free from $32 to $8. Two...
Jan 25, 2024 | Federal Regulation, Litigation, News
Supreme Court Signals It Will Claw Back Federal Agency Power Last week, the Supreme Court signaled that it will likely cut back the regulatory power of federal agencies when several justices indicated during a pair of arguments they were ready to overrule a legal...
Nov 8, 2023 | Litigation, News, Online Lending, Tribal Sovereignty
Minnesota AG Sues Three Tribal Lenders Earlier this month, Minnesota Attorney General (AG) Keith Ellison filed a federal lawsuit against three Tribally-owned online lending companies, which his office says “issued thousands of loans to consumers in Minnesota that...
Oct 9, 2023 | Federal Regulation, Litigation, News
Supreme Court Signals Skepticism on Claims CFPB is Unconstitutional Since it was created, opponents of the Consumer Financial Protection Bureau (CFPB) have argued that its funding structure—among other elements—was unconstitutional. Last October, those opponents got a...
Jul 26, 2023 | Federal Regulation, Litigation, News
Supreme Court Schedules Arguments in CFPB Constitutionality Case for October The Supreme Court recently announced its October argument calendar—the first month of the court’s next annual term—which includes the case involving the constitutionality of the Consumer...