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“An Arrow Has Found its Target”: Federal Appeals Court Deems CFPB Funding Method Unconstitutional, Invalidating Payday Lending Rule
In a decision with potentially far-reaching implications for the CFPB, a three-judge panel of the U.S. Circuit Court of Appeals for the Fifth Circuit yesterday ruled that the Bureau’s funding structure is…
Is Discrimination “Unfair” Under the UDAP Laws? New Lawsuit Challenges CFPB’s Anti-Discrimination Guidelines
Most people would generally agree that discriminating on the basis of race, color, religion, disability, or similar factors is a bad thing to do – indeed, that it’s “unfair” within the common meaning of the word. It’s…
CFPB Issues Report on the Convergence of Payments and Commerce and its Implication for Consumers
On August 4, 2022, the Consumer Financial Protection Bureau (“CFPB”) issued a report entitled, “The Convergence of Payments and Commerce: Implications for Consumers,” in which it examines the challenges and risks to…
Credential Stuffing: Cyber Best Practices from NY Attorney General’s Latest Report
In guidance released last week, the New York State Office of the Attorney General urged businesses to incorporate safeguards to detect and prevent credential-stuffing attacks in their data security programs. The…
Chopra Confirmed as Next CFPB Director; Departure Leaves FTC Evenly Divided
The Senate yesterday confirmed current FTC Commissioner Rohit Chopra as the new Director of the Consumer Financial Protection Bureau (CFPB) . The 50-48 vote to confirm was along party lines and followed Vice President…