The agency opposed a request to expand an injunction on implementing its small business lending data collection rule to all covered institutions. Currently the stay applies only to American Bankers Association and Texas Bankers Association members.

The Bank Policy Institute and American Bankers Association have asked federal agencies to pause adoption of the Community Reinvestment Act final rule until proposed bank capital requirements are finalized and the Supreme Court decides on the CFPB’s funding mechanism.

According to Dan Smith, president and CEO of the Consumer Data Industry Association, the CFPB’s potential data broker rule could lead to companies exiting the data business.

The bureau has accused South Carolina-based Heights Finance of targeting borrowers for their likelihood to refinance and using coercive practices to drive them into fee-laden refinancing cycles.

The firms, which include Lexington Law and CreditRepair.com, were accused of misrepresenting to consumers that an upfront fee was necessary to begin the credit repair process.

A New York state court has stayed proceedings in an enforcement action brought by the CFPB against a subprime indirect auto finance firm, pending the Supreme Court’s decision in the bureau’s funding case.

Credit union and community bank trade groups have joined a lawsuit in a Texas district court, seeking a nationwide injunction against implementation of the CFPB’s small business lending data collection rule.

The bureau wants to recategorize brokers selling certain types of consumer data as “consumer reporting agencies” and restrict the extent to which “credit header data” can be released.

A broad coalition of trade groups raised concerns that the proposal would lead to frivolous lawsuits and potential consumer harm.

The temporary injunction halting the implementation of the Section 1071 final rule applies only to members of the American Bankers Association and the Texas Bankers Association.