CFPB Monitor

APRIL 26, 2021

The Attorney Generals of the six states and District of Columbia who filed a lawsuit against the FDIC to set aside its “ Madden -fix” rule have filed a motion for summary judgment in the case. The lawsuit is pending before the same California federal district court judge (Judge Jeffrey S.

FDIC 78

FDIC District of Columbia California Regulation 78

CFPB Monitor

MAY 26, 2021

The FDIC has filed a motion for summary judgment in the lawsuit filed by the Attorney Generals of six states and District of Columbia to set aside the FDIC’s “ Madden -fix” rule. The filing also includes the FDIC’s opposition to the summary judgment motion filed by the AGs.

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FDIC District of Columbia Regulation California 78

CFPB Monitor

AUGUST 25, 2020

The plain language of the governing federal statute applies only to interest that an FDIC-insured state bank may charge. Allegedly, the FDIC’s rule represents an expansion of the FDIA’s preemption of state law interest rate caps by extending the preemption to assignees of loans originated by such banks.

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FDIC District of Columbia North Carolina Illinois 78

CFPB Monitor

JANUARY 5, 2021

federal district court to block the OCC from granting a national bank charter to Figure Technologies Inc. According to CSBS, Figure’s charter application is intended to further “the OCC’s stated goal of deliberately maneuvering around the adverse [New York federal district court ruling in Vullo v. 7.4007, 7.4008, 34.4)

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Conference Technology District of Columbia FDIC 78

PYMNTS

OCTOBER 12, 2016

Elizabeth Warren — one of the guiding figures behind the CFPB — took a somewhat different line on the ruling, firmly noting it was not a defeat for post-financial crisis efforts and banking regulation and reform. Although the FRB, ITC, SEC, FDIC, FCC, NCUA, etc., The ruling “will likely be appealed and overturned,” Warren noted.

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District of Columbia New Jersey Exercises FDIC 100

CFPB Monitor

DECEMBER 18, 2020

The OCC failed to consider the rule’s facilitation of rent-a-bank schemes and that the rule creates a regulatory vacuum by placing non-bank loan buyers outside any meaningful regulation. The second lawsuit was filed in the same California federal district court as the lawsuit against the OCC and both cases will be heard by Judge Jeffrey S.

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FDIC District of Columbia North Carolina New Jersey 78

FICO

DECEMBER 19, 2018

Court Appeals for the District of Columbia vacated key parts of the Federal Communications Commission (FCC) 2015 TCPA Order , which had created much confusion and sparked increased litigation. I believe this will slip a few months but by June 2019 the proposed regulations will finally be available for public review and comment.

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Policies District of Columbia Regulation California 40