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 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.
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.”
It typically takes the CFPB less than one day to process a consumer’s complaint and send it to the company identified in the complaint. After the Trump administration disrupted operations at the bureau, the average complaint processing time temporarily jumped to six days.
Several CFPB offices have been authorized to continue working, but the process has been filled with confusion between new bureau leadership and bureau employees.
The House Financial Services Committee voted 30-19 to pass a Congressional Review Act resolution to reverse a CFPB final rule that will limit overdraft fees charged by large banks and credit unions.
A Texas federal judge granted the CFPB’s request to stay for 30 days all pending deadlines in the credit card late fee lawsuit as it works with the plaintiffs in the case to resolve the matter.
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