BREAKING NEWS This afternoon, a consortium of bank trade associations filed a lawsuit against the CFPB in federal district court in Texas challenging the legality of the recently released credit card late fee regulation

BREAKING NEWS! CFPB ISSUES FINAL CREDIT CARD LATE FEE RULE AS PART OF BIDEN VAST EXPANSION OF WAR AGAINST JUNK FEES. SPELLS BIG TROUBLE FOR CONSUMERS. WE WILL SPELL IT ALL OUT DURING OUR WEBINAR ON March 21.

OppFi Beats Calif. Regulator's Bid For Preliminary Injunction California agency has lost prelim injunction motion imposing restrictions on Opportunity Financial's bank partnership lending. This is a huge setback to the agency's claim that the bank is true lender.

I can’t overemphasize the importance of this topic. One of the highest priorities of the Consumer Financial Protection Bureau and the Federal Trade Commission is to eliminate digital dark patterns.

Read this and weep:

The latest from our consumer finance attorneys: "Texas Federal District Court invalidates CFPB Exam Manual changes which opined that discrimination is a UDAAP violation" - https://t.co/15HK798kdX

BREAKING NEWS: FEDERAL DISTRICT COURT IN TEXAS VACATES CFPB’S CHANGES TO UDAAP EXAM MANUAL WHICH DEFINED AN “UNFAIR” PRACTICE TO ENCOMPASS ALL TYPES OF NON-INTENTIONAL DISCRIMINATION. THE COURT HELD THAT CFPB EXCEEDED ITS STATUTORY AUTHORITY.

@BallardSpahrLLP Yes, there is a much better answer. Either the Court should stay the compliance dates for the rule as to everyone affected by it or the CFPB should propose a simple amendment to the rule to accomplish that.

@BallardSpahrLLP @CardozoLaw It was my pleasure to host Myriam on our podcast show. While I disagree with her about her article to amend Section 5 of the FTC Act to create a private individual and class cause of action, Myriam is a top notch thought leader among consumer financial services lawyers.

of the University of Chicago Law School and Lauren Campisi of Hinshaw & Culbertson LLP. You won’t want to miss this program. Registration is free to members of the Business Law Section of the American Bar Association.

Of even greater concern is the possibility that old regs that courts have validated by relying exclusively on Chevron deference could be collaterally attacked. I will be moderating this virtual and live program in which I will be joined by Professor Jonathan Masur of the

there is another extremely important case, Raimondo, which will determine the future viability of the Chevron judicial deference doctrine. If the doctrine is overruled, as many Supreme Court pundits predict, the validity of new regs issued by federal agencies will be less certain

https://t.co/OiM83kfBuu In the consumer financial services world, practically all attention is focused on the oral argument in the Supreme Court in CFPB v. CFSA on October 3 since that will determine the very future of the CFPB. However,

While it was a well-written brief, I certainly hope that the Supreme Court does not overrule Chevron. That would completely undermine the regulatory certainty that is necessary for businesses to operate. Even a bad valid regulation is better than leaving up to courts to decide.

Oral argument in CFPB v. CFSA has been scheduled for the very first day of the Supreme Court’s new term on October 3. The Court will determine whether the CFPB’s is unconstitutional. I expect a decision by the end of the year, although it might not happen until the end of June

@BallardSpahrLLP

Podcast concerns extraordinarily important case pending before Supreme Court which will decide whether the overrule Chevron case from decades ago. Under Chevron, a court must defer to a federal agency’s reasonable interpretation of an ambiguous statute.

These bills have the potential to make NY a judicial hellhole like California for private industry. The cost of doing business in NY is about to soar. What scares me the most is that any non-profit organization can bring lawsuits on behalf of consumers.

We set a record for the number of log-ins for this webinar. We also set a record for the #of questions asked at a webinar. We will hold another webinar on June 15 in which we will cover the most important questions that were asked. You may register here.

Highest national ranking from Chambers USA awarded again to Ballard Spahr’s Consumer Financial Services Group | Consumer Finance Monitor