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The District Court for the Northern District of California ruled against three states – California, Illinois, and New York – challenging the OCC’s rule on the valid when made doctrine. The states contended that the issuance of the rule violated the APA, amongst other things.
On February 8, the District of Columbia attorney general announced a settlement with a FinTech company for alleged violations of the District of Columbia Consumer Protection Procedures...
On January 18, acting CFPB General Counsel Seth Frotman sent a letter to three representatives of consumer advocacy groups addressing the CFPB’s November 2020 advisory opinion on earned...
On January 24, the CFPB issued a notice and request for comment in the Federal Register regarding the Bureau’s inquiry into “buy now, pay later” or BNPL providers. As discussed in a...
On January 20, the CFPB announced that it would begin examining the operations of post-secondary schools that offer private loans directly to students and update its exam procedures to...