Here. New § 1002.6 provides in part: ECOA “does not provide that the ‘effects test’ applies for determining whether there is discrimination in violation of the Act.” The regulation also purports to define discouragement and covers special purpose credit programs. I wonder how long before a court challenge is filed.
Category Archives: Consumer Financial Protection Bureau
That’s the report from Douglas Gillison. According to the story, the administration did that in February, the same month in which the administration argued to the D.C. Circuit Court of Appeals that its decisions concerning the CFPB were not final and so not reviewable. A decision that the Bureau won’t have an office sounds pretty […]
As we noted on April Fool’s Day, the CFPB has proposed to the court a dramatic cut in the CFPB staffing. If only it were in fact an Apri Fool. American Banker’s Kate Berry has more here. Bloomberg’s Evan Weinberger has this paragraph in his story on the proposal: The cuts may still be “draconian,” […]
The proposal is here. It can’t go into effect until the preliminary injunction in the NTEU case is lifted. The administration claims the plan would “allow CFPB to continue meeting its statutory obligations while expanding on the reforms that have dramatically increased its efficiency and stewardship of taxpayer funds, in line with Presidential and Congressional […]
Alisher Juzgenbaye, a Northwestern JD/Ph.D student has written The Vanishing Enforcer: Consumer Protection in an Era of Dual Retrenchment. Here’s the abstract (the paper left out the third source of retrenchment: arbitration clauses): Recent developments, including reductions in the federal workforce, effective suspension of certain enforcement activities, and attempted centralization of independent agency rulemaking in the […]
Here, by Joel Jacobs. According to the article, “TransUnion’s relief rate, which had remained relatively steady for several years, began plunging in the summer of 2025. By October it was providing relief roughly half as often” and “Experian’s drop was even more dramatic. The company resolved nearly 20% of complaints in consumers’ favor in 2024. […]
Amelia O’Rourke-Owens has written Tearing Holes in Consumer Protection, Democracy’s Safety Net. Or: 2-4-6-8, Dodd-Frank is pretty great! 3-5-7-9, policymakers must save the CFPB just in time! Here’s the abstract: Financial protection laws safeguard all individuals regardless of wealth, race, or age. Indeed, they impact nearly every person living in the United States, as it’s impossible […]
. . . February 24 at 2:00 p.m. Eastern.
As we have reported in the past, the Dodd-Frank Act requires that the CFPB’s director “shall appear before the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services and the Committee on Energy and Commerce of the House of Representatives at semi-annual hearings.” But it appears that Acting Director […]
Several states have adopted laws creating Property Assessed Clean Energy (PACE) financing systems for certain residential energy and home improvement projects. Under these programs, a homeowner borrows money to finance the project, and the loan is repaid through an assessment on the homeowner’s property tax bill. The lender’s lien generally has priority over mortgage liens, […]