Federal prosecutors are indicting executives at Tricolor Holdings – a recently bankrupted U.S. subprime auto lender – alleging they deceived bank lenders by double-pledging collateral and manipulating loan data. The indictment alleges that the misconduct...
Read MoreThe U.S. Department of Justice (DOJ) directed a federal court that a preliminary injunction does not require the Consumer Financial Protection Bureau (CFPB) Acting Director to request additional funding from the Federal Reserve. Acting Director...
Read MoreA recent settlement would allow merchants to reject credit cards that charge them higher transaction fees – namely rewards credit cards. The legal battle stems from interchange fees – fees that merchants pay credit card...
Read MoreOn March 28, a U.S. judge blocked the Trump administration from dismantling the Consumer Financial Protection Bureau (CFPB), with the Trump administration appealing this decision on March 29. The judge’s order maintains the CFPB’s operations...
Read MoreOn June 5, the 5th U.S. Circuit Court of Appeals rejected the Securities and Exchange Commission’s (SEC’s) private funds rule. The rule, which aimed to provide further details to investors in hedge funds and private equity firms, was...
Read MoreIn a 7-2 vote on May 16, The Supreme Court ruled the CFPB’s funding structure to be constitutional. The court found that Congress has wide discretion to structure the funding operations of federal agencies. This ruling came...
Read MoreOn May 6, the CFPB filed a complaint and two proposed stipulated final judgments to require National Collegiate Student Loan Trusts and Pennsylvania Higher Education Assistance Agency to pay more than $5 million for student...
Read MoreOn April 5, Structured Finance Association submitted a letter in response to the NAIC’s memo from February 14, 2024, titled “Response to Written Comments on Holistic Framework on Insurers Investments”. The NAIC’s proposed updates to the...
Read MoreIn 2021, the Department of Justice (DOJ) reopened its long-running inquiry into alleged anticompetitive practices by the National Association of Realtors (NAR) which they are concerned might contribute to excessive costs to consumers for real...
Read MoreThe National Automobile Dealers Association (NADA) alongside the Texas Automobile Dealers Association (TADA) has filed a federal legal challenge against the FTC’s rule to combat auto retail scams (CARS Rule). The FTC’s rule was finalized...
Read MoreMichael Bright on 'On The Hill' - Analyzing Economy and Inflation Trends.
Read MoreOn September 3, the Supreme Court heard oral arguments for CFPB v. Community Financial Services Association, which challenges the constitutionality of the CPFB’s funding structure. Justices on both sides of the aisle seemed hesitant to validate arguments that the...
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