To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 20, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
CFPB Withdraws Proposed FCRA Data Broker Rule
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register. The rescission is scheduled to be published tomorrow. This withdrawal marks a significant shift in the Bureau’s approach to regulating data brokers and other updates to Regulation V under the Fair Credit Reporting Act (FCRA).
CFPB Proposes Rescission of Nonbank Registration Rule
Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule to rescind its previous regulation requiring nonbank entities to report certain agency and court orders to a Bureau registry.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 12, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 6, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 30, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Appeals Court Blocks CFPB Layoffs Pending Further Review
Yesterday, the U.S. Court of Appeals for the District of Columbia Circuit issued an order temporarily halting the Consumer Financial Protection Bureau’s (CFPB or Bureau) mass layoffs. The court granted an emergency motion to enforce or clarify its previous order, reinstating the preliminary injunction that prevents the CFPB from executing reductions in force (RIFs).
Trends in Mass Arbitration
Mass arbitration continues to be a significant and evolving issue in the legal landscape, particularly for consumer, healthcare, and employment disputes. The American Arbitration Association (AAA) recently released data from 2024 that provides valuable insights into the trends and outcomes of mass arbitrations.
President Trump Issues Executive Order to Eliminate Disparate Impact Analysis
Yesterday, President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of treating all citizens equally under the law and promoting a merit-based, colorblind society.