Criticized by Republicans as overly restrictive and detrimental to the financial industry, the CFPB’s Credit Card Late Fee Rule imposes limits on late fees charged by credit card companies. Tied up in litigation, a judge recently ordered the CFPB to settle the suit—a good outcome https://t.co/GZpkD9x747
The Trump administration must continue to recognize collecting bargaining rights for hundreds of thousands of federal employees while it appeals a court loss. https://t.co/meYKZfCwur
The U.S. Consumer Financial Protection Bureau has joined with industry groups in asking a federal court to scrap a Biden-era regulation barring consumer credit reports from including medical debt, according to court papers. https://t.co/6GiEfk1jkK
The U.S. Court of Appeals for the D.C. Circuit has reinstated a preliminary injunction that protects approximately 1,700 employees of the Consumer Financial Protection Bureau (CFPB) from mass layoffs initiated by the Trump administration. Judges Cornelia T.L. Pillard and Gregory G. Katsas restored the ban on any reduction-in-force at the CFPB, originally issued on March 28, as confirmed by U.S. District Senior Judge Amy Berman Jackson. This ruling allows CFPB employees to return to work and continue the agency's mission. Meanwhile, the CFPB has moved to abandon several lawsuits, including its appeal in the Fifth Circuit regarding a Biden-era policy that expanded anti-discrimination scrutiny of financial firms. Additionally, the CFPB has agreed in court filings to eliminate a Biden administration rule that barred medical debt from appearing on consumer credit reports, a decision now pending a federal judge's review on whether consumer groups can defend the rule. The CFPB also joined industry groups in seeking to scrap this medical debt reporting regulation. Separately, the Trump administration is required to recognize collective bargaining rights for hundreds of thousands of federal employees while appealing a court loss. In related litigation, the CFPB's Credit Card Late Fee Rule, which limits late fees charged by credit card companies and has been criticized by Republicans, is under court order to settle the suit.