On December 23, 2025, the CFPB issued an advisory opinion affirming that “covered” earned wage access (EWA) services fall outside the definition of “credit” under TILA’s Regulation Z, and that optional expedited delivery fees and voluntary tips are not “finance charges” under TILA’s Regulation Z, withdrawing a Biden Administration July 2024 proposed…
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on December 23, 2025, that resolves significant regulatory uncertainty surrounding whether earned wage access (EWA) products and are “credit” for purposes of Regulation Z, the Truth in Lending Act’s (TILA) implementing regulation. The advisory opinion establishes four critical characteristics that…
On January 12, 2026, the CFPB and DOJ published a Federal Register Notice withdrawing Biden-era guidance concerning the consideration of immigration status when making credit decisions under ECOA. ECOA does not expressly prohibit consideration of immigration status. Under Regulation B, creditors may consider an applicant’s immigration status or status as…
The Consumer Financial Protection Bureau (CFPB) has once again found itself at the center of an intense policy debate. Its August 2025 Advance Notice of Proposed Rulemaking (ANPR) on Personal Financial Data Rights — better known as the Open Banking Rule under Section 1033 of the Dodd-Frank Act — drew…
The Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a banking-as-a-service platform on August 21, 2025 in the U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division. The complaint alleges that the California-based company violated the Consumer Financial Protection Act by failing to maintain adequate records of…
Earlier this month, the CFPB issued four separate advance notices of proposed rulemaking with respect to rules that give the CFPB authority over nonbank companies in the auto finance, international money transfer, debt collection, and consumer credit reporting spaces. According to the CFPB, the current thresholds impose a compliance burden…
On July 21, 2025, the CFPB announced that it was withdrawing its planned recission of Section 1082.1 of the Consumer Financial Protection Act (CFPA) implementing regulations, which contains procedures by which state officials must notify the CFPB prior to taking an action enforcing the federal CFPA. Specifically, Section 1082.1 requires…
On July 21, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it had terminated its October 2024 consent order with a Florida-based credit union. The original order alleged that the credit union had engaged in unfair practices related to its online and mobile banking services, in violation of Sections 1031 and 1036(a)(1)(B) of the…
An Illinois federal district court judge presiding over a revived redlining case denied a joint motion to vacate a 2024 voluntary settlement between the Consumer Financial Protection Bureau (CFPB) and a Chicago-based non-bank lender. In November 2024, the parties voluntarily entered into a settlement to resolve the CFPB’s allegations that the…
On June 16, 2025, the New York Attorney General announced it had entered into a stipulated final judgment to settle its suit against a non-bank money transfer provider over alleged violations of federal and state consumer protection laws related to remittance transfers. The lawsuit alleged the company provided inaccurate disclosures…
In June 2025, the Senate Banking Committee introduced a version of the “One Big, Beautiful Bill” that would eliminate the CFPB’s Federal Reserve funding. The CFPB can currently receive funds of up to 12% of the Federal Reserve’s 2009 profits. The House Financial Services Committee already introduced a version of…
Over the past month, the Consumer Financial Protection Bureau (CFPB) took a slew of actions with the apparent aim to decrease the CFPB’s regulatory authority. On May 14, 2025, the CFPB proposed rescinding the “NBR Rule” which requires nonbanks to register certain agency enforcement and court orders with the CFPB related to…
The Consumer Financial Protection Bureau voluntarily dismissed its lawsuit with prejudice against a major retailer and a fintech company in the District of Minnesota. One of the last actions filed during the Biden administration, the Bureau originally brought claims on December 23, 2024 under the Consumer Financial Protection Act (“CFPA”),…
The Consumer Financial Protection Bureau (Bureau) recently announced that it is deprioritizing certain enforcement and supervision actions. The Bureau explained that it will instead focus its limited resources on what it views as “pressing threats” to consumers, particularly servicemen and veterans. On April 30, 2025, the Bureau announced that it…
The Consumer Financial Protection Bureau (CFPB) recently issued its annual report analyzing the consumer complaints it received in 2024. The CFPB collects complaints through its website, phone calls, and mail. It also receives referrals from the White House, congressional offices, and other federal and state agencies. The CFPB then directs…
On April 15, 2025, the U.S. District Court for the Northern District of Texas vacated a Consumer Financial Protection Bureau (CFPB) rule that capped credit card late fees at $8. The decision granted a joint motion, brought by the CFPB and the coalition of trade associations that had sued it,…
The Republican-led Congress has invoked the Congressional Review Act (CRA) in attempts to revoke final rules that former CFPB Director Chopra issued toward the end of Biden’s Administration. Under the CRA, Congress can repeal an agency’s final rule by passing a joint resolution of disapproval by simple majority vote. The…
On Tuesday, March 25, 2025, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion in a suit brought by the New York attorney general against a major national bank seeking to withdraw a Statement of Interest the Bureau filed last year, which advanced a “novel” interpretation of the…
Although the Consumer Financial Protection Bureau (CFPB or Bureau) voluntarily dismissed a slew of its own enforcement actions following Rohit Chopra’s removal as CFPB Director on January 31, 2025, the Bureau has affirmatively indicated its intent to continue litigating only a handful of cases so far. There were, by our…
In March 2025, a Northern District of Texas judge denied the Consumer Financial Protection Bureau’s (CFPB) motion to stay its case against Comerica Bank for alleged mismanagement of a government benefit card program in Consumer Financial Protection Bureau v. Comerica Bank. The CFPB filed this suit in December 2024, alleging…