The Consumer Financial Protection Bureau is announcing today that, with respect to the regulation titled Small Business Lending Under the Equal Credit Opportunity Act (Regulation B), implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 88 Fed. Reg. 35,150 (May 31, 2023), it will not prioritize enforcement or supervision actions with regard to entities that are currently outside the stay imposed under Texas Bankers Association v. CFPB, No. 24-40705 (CA5).
SaaS has become the default and is often the only format in which software is now delivered, leaving organizations with little choice but to rely heavily on a small set of leading service providers, embedding concentration risk into global critical infrastructure. While this model delivers efficiency and rapid innovation, it simultaneously magnifies the impact of any weakness, outage, or breach, creating single points of failure with potentially catastrophic systemwide consequences. Historically, software was distributed across diverse environments, each with unique security practices, inherently limiting the scale of any single breach. Today, an attack on one major SaaS or PaaS provider can immediately ripple through its customers. This fundamental shift demands our collective immediate attention.
The U.S. Circuit Court of Appeals for the District of Columbia has upheld a temporary injunction issued by Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia prohibiting the CFPB from firing more than 1,400 employees, leaving only about 200 employees at the agency.
Mass arbitration continues to be a significant and evolving issue in the legal landscape, particularly for consumer, healthcare, and employment disputes. The American Arbitration Association (AAA) recently released data from 2024 that provides valuable insights into the trends and outcomes of mass arbitrations.
New York Attorney General Letitia James has sued payday lenders MoneyLion Inc. and DailyPay Inc. in New York state court, alleging that the two companies took advantage of tens of thousands of New Yorkers.
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