New CFPB leadership said the bureau’s investigation into Townstone was not prompted by any actual harm, but by quota-style statistics.

A decision is expected no later than April 1, regarding a potential preliminary injunction that would prevent future mass terminations.

A series of bills proposed by Republicans in Congress would dramatically change how the CFPB operates.

The October 2023 final rule provided several major updates to the Community Reinvestment Act, but the rule’s implementation has been stalled due to a lawsuit by trade groups representing banks.

California’s new climate-disclosure reporting requirements are set to take effect next year and will change reporting standards for covered entities. The MBA is seeking some changes to the standards.

The American Fintech Council asked Acting CFPB Director Russell Vought to start making changes.

The Supreme Court is considering whether a federal court can certify a class action when some of the class members are uninjured. MBA said the question is timely as class actions from private plaintiffs are expected to increase.

CFPB plans to revoke BNPL rule; Idaho limits mortgage trigger leads; Arkansas updates fair lending law; CFPB won’t enforce small-dollar rule; Congress moves closer to repealing bureau’s overdraft rule.

A U.S. district court convened a two-day hearing last week in the National Treasury Employees Union’s lawsuit aimed at stopping an effort by the Trump administration to greatly diminish the CFPB. The judge extended a freeze on contract terminations by the CFPB while contemplating a ruling on a preliminary injunction.

Just before the vote, Sen. Elizabeth Warren, D-MA, released the CFPB nominee’s answers to a series of questions regarding the bureau. Warren said his responses were filled with “non-answers that regurgitated the agency’s obligations under the law.”