Senate Banking, Housing and Urban Affairs (Banking Committee) Republicans have received the Senate Parliamentarian’s approval to cut the CFPB’s funding. As a result, in the large budget reconciliation bill now being written in the Senate the amount will drop from a maximum of 12% of the Federal Reserve’s inflation adjusted profits in 2009 to 6.5% of those profits.
The District Court in Alabama – a common venue for certain consumer attorneys – isn’t mincing words when it comes to how consumers must plead Fair Debt Collection Practices Act (FDCPA) cases and how Regulation F should be considered in FDCPA actions. Within the context of a recent lawsuit, the court cautioned against “shotgun pleadings” and dismissed a suit on the basis that Regulation F is not synonymous with the FDCPA, and the court is not required to defer to it.
Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and state.
On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather than dismissing it. This move comes amidst concerns over significant consumer harm stemming from Synapse’s alleged unfair practices in managing funds across its network of partner financial institutions. The shortfall between the money consumers had in their accounts at the time their accounts were frozen and the money that has been returned by the partner financial institutions may be as high as $95 million.
Montana’s privacy law has received a refresh and updates will go into effect October 1, 2025 – exactly one year since the law took effect. The law was modified with SB 297, and changes include coverage, approach with minors, and more:
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