Litigation

Appeals court hears CFPB argument for 90% reduction in force

Appeals court hears CFPB argument for 90% reduction in force

John Heltman A panel of appellate judges will decide whether the Trump administration can fire 90% of the Consumer Financial Protection Bureau’s staff through a reduction-in-force without impacting the agency’s legally-mandated work. On Friday afternoon, a three-judge panel of the U.S. Court of Appeals for the District of Columbia heard oral arguments on whether a […]

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Court allows fintechs to defend CFPB’s open banking rule

Court allows fintechs to defend CFPB’s open banking rule

Bloomberg News A federal judge granted the Financial Technology Association the right to intervene in the Consumer Financial Protection Bureau’s open banking rule, allowing the fintech industry to defend a rule on consumer financial data rights that the Trump administration refused to uphold.   On Wednesday, U.S. District Court Judge Danny Reeves said the FTA has

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Trump’s CFPB drops more than half of all pending litigation

Trump’s CFPB drops more than half of all pending litigation

The former headquarters of the Consumer Financial Protection Bureau with signage removed.Catherine Leffert The Consumer Financial Protection Bureau has dismissed or withdrawn more than half of its pending enforcement cases as the Trump administration clears the docket of work it inherited from the Biden era.  Since February, acting CFPB Director Russell Vought has dismissed 17

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