As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up.
The California federal district court judge who is presiding over the CFPB’s lawsuit against CashCall and several related companies that funded, purchased, serviced, and collected online installment loans has granted the defendants’ motion to certify an interlocutory appeal of the district court’s August 31, 2016 order to the Ninth Circuit.
As rumors swirl that President-elect Trump is planning to remove Director Cordray immediately after January 20th, conflicting views have emerged about his authority to do so before the appeal in PHH is resolved.
Last Friday, the D.C. Circuit entered an order granting PHH’s motion for leave to file a supplemental response to the CFPB’s petition for rehearing en banc. On December 22, PHH and the United States filed responses to the CFPB’s petition with the D.C. Circuit.
The CFPB has published a final rule to adjust for inflation the civil penalties within its jurisdiction.
Lawmakers Take Sides On Director Cordray’s Future; Senator Warren Urges Consumer Advocates to Defend CFPB
Battle lines over Director Cordray’s future at the CFPB are predictably forming along party lines. Earlier this week, two Republican senators sent a letter to Vice President-elect Pence urging Director Cordray’s removal by President-elect Trump.
Proposed Reform Measure Passed by House Would Result in Seismic Change in Congressional Review Procedure for “major Rules”
We have previously written about the Congressional Review Act (“CRA”), which was enacted as part of the Contract with America Advancement Act of 1996.
CFPB’s National Debt Collection Consumer Survey Findings Lays Groundwork for Future Enforcement and Rulemaking Priorities
Early this morning, the CFPB released the findings of its national debt collection consumer survey. Both the headline of the CFPB’s press release and Director Cordray’s remarks highlight the survey’s finding that “over one-in-four consumers contacted by debt collectors feel threatened” during the collections process.