In a recent decision, the U.S. Court of Appeals for the Second Circuit clarified the expectations for furnishers when investigating consumer disputes under the Fair Credit Reporting Act (FCRA). In Suluki v. Credit One Bank, No. 23-721 (2d Cir. May 28, 2025), the Second Circuit emphasized that the FCRA requires furnishers to conduct reasonable, not perfect, investigations into disputed accounts. The opinion also cements the fact that summary judgment is possible — and appropriate — when a furnisher conducts a reasonable investigation of a credit dispute.
The Consumer Financial Protection Bureau (CFPB) is providing long-delayed restitution to victims of predatory tech sales program Prehired, LLC (Prehired) after California and several other states pressed for answers in May.
The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in March 2025.
The U.S. House of Representatives recently passed a sweeping federal budget bill that could significantly reduce funding for the Consumer Financial Protection Bureau (CFPB), marking a major shift in how the agency would be financed moving forward.
Nicknamed the “One Big Beautiful Bill Act,” the legislation proposes capping the CFPB’s annual funding at $249 million — a sharp reduction from the over $700 million it currently accesses from the Federal Reserve. The bill passed narrowly, 215-214, with support falling along party lines.
A new Maryland law deems certain earned wage access (EWA) services to be loans. It then subjects those EWA services to the Maryland Consumer Loan Law and other consumer credit provisions, restricts the acceptance of tips by certain lenders, requires licensing or registration of certain entities offering EWA services, regulates EWA service agreements, and limits the costs and fees associated with obtaining EWA services. The law is effective October 1, 2025.
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