CFPB

Federal Judge Halts CFPB Layoffs Amid Ongoing Union Legal Challenge

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WASHINGTON — A federal judge has temporarily halted the proposed job reductions at the Consumer Financial Protection Bureau (CFPB), following legal action taken by the agency’s union. This decision allows for the continuation of employment for potentially affected staff while the case progresses through the legal system. The judge’s ruling comes in light of concerns that cutting nearly 100 jobs could significantly impair the CFPB’s capability to enforce consumer protection laws. According to the union, these reductions would hinder the bureau’s efforts to ensure fairness in banking, lending, and financial transactions nationwide. Legal representatives for … Read more

CFPB Withdraws Lawsuit Against Comerica Bank, Keeping Door Open for Future Actions

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Dallas, Texas — A significant legal action involving Comerica Bank and the Consumer Financial Protection Bureau (CFPB) was recently dismissed, signaling a shift in enforcement strategies under different U.S. presidential administrations. The CFPB opted to drop a lawsuit against Comerica without explanation, a move that allows for the case to potentially be reopened in the future. This legal decision follows a Texas judge’s refusal last month to pause the lawsuit, criticizing the bureau’s lack of justification for how a stay would serve the cause of justice. Originally, the CFPB filed a single-sentence dismissal at the … Read more

Federal Court Pauses Lawsuit Against CFPB as Negotiations Over Credit Card Late Fee Cap Show Promise

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FORT WORTH, Texas — A federal court has temporarily paused legal proceedings in a high-stakes lawsuit over a contentious rule limiting credit card late fees, an issue that pits financial institutions against consumer advocates. The 30-day stay, authorized by U.S. District Court Judge Mark Pittman on March 13, followed optimistic signals from the Consumer Financial Protection Bureau (CFPB) about reaching a settlement with challengers, including the U.S. Chamber of Commerce and the Consumer Bankers Association. The dispute centers on a CFPB rule established in March 2024, capping credit card late fees at $8, a sharp … Read more

US Court Rejects CFPB Request to Pause Legal Battle with Comerica Bank

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A federal judge in the United States has recently ruled against the Consumer Financial Protection Bureau’s (CFPB) request to temporarily pause its lawsuit against Comerica Bank. The CFPB, a government agency tasked with consumer protection in the financial sector, had launched a legal challenge against the bank concerning its practices related to handling prepaid cards. The denial of the motion to stay by the judge implies that the lawsuit will proceed without delay. Prior to this development, the CFPB had intended to halt the lawsuit temporarily, possibly to fine-tune its arguments or await the outcomes … Read more