On November 13, 2025, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) amending Regulation B – the regulation implementing the Equal Credit Opportunity Act (ECOA). The proposed rule addresses three principal areas: (1) it clarifies that ECOA does not authorize disparate-impact liability; (2) it further defines “discouragement” under 12 CFR
Speaking at the Clearing House’s annual conference, Comptroller of the Currency Jonathan Gould assured industry leaders that the agency remains steadfast in defending federal preemption under the National Bank Act. Gould’s comments come in the wake of recent federal appellate court decisions in the Ninth and First circuits, which challenged the OCC’s stance by finding
In its 2024 decision Cantero v. Bank v. America, N.A., the Supreme Court established the approach courts must follow in determining whether a state consumer financial law prevents or significantly interferes with the exercise of a national bank’s powers and is, therefore, preempted by the National Bank Act. In doing so, the Supreme Court
On June 20, 2025, the Supreme Court issued perhaps the most momentous decision in Telephone Consumer Protection Act history with McLaughlin Chiropractic Associates, Inc. v. McKesson Corp. This landmark ruling jettisons decades of established practice that bound district courts to follow the Federal Communications Commission (FCC) interpretations of the TCPA.
TCPA litigation has already been
The Fair Credit Reporting Act (FCRA) has been a notoriously active area for litigation, especially class-action litigation, in recent years. One issue that continues to be litigated in FCRA cases involving data furnisher liability is the scope of a review that the furnisher must undertake when a consumer dispute is lodged. In particular, courts have
Amid recent technological advances in artificial intelligence and machine learning, on January 17, 2025, the CFPB issued its Winter 2025 Supervisory Highlights: Advanced Technologies Special Edition. This edition of Supervisory Highlights delivers critical industry reminders regarding the balance between regulatory requirements and technological innovation. As an appropriate summation of the CFPB’s overarching worldview, the
On July 11, 2024, the United States Court of Appeals for the Seventh Circuit issued its highly anticipated decision in Consumer Financial Protection Bureau v. Townstone Financial, Inc., et al. In this pivotal decision, the Seventh Circuit reversed a prior ruling from the United States District Court for the Northern District of Illinois and held
“Although there may be other constitutional checks on Congress’ authority to create and fund an administrative agency, specifying the source and purpose is all the control the Appropriations Clause requires.” With these words, seven members of the Supreme Court upheld the constitutionality of the Consumer Financial Protection Bureau’s funding mechanism and forestalled the possibility that
Nearly two years ago, in April 2022, the CFPB issued a press release announcing its intent to start exercising its authority to examine non-bank financial services institutions that the CFPB has “reasonable cause to determine pose risks to consumers.” The agency also indicated that it would release to the public the results of such supervision.
On January 4, 2024, Connecticut Banking Commissioner Jorge L. Perez issued a temporary order to cease and desist against LoanSnap, Inc., ordering LoanSnap to cease and desist certain activities and notifying LoanSnap that its state mortgage lender license will be revoked and a civil money penalty will also be issued against it. The charges against the California-based