In 2025, debanking initiatives continued to intensify, with new guidance, legislation, and other actions at both the federal and state levels aimed at so-called “discriminatory debanking.”
Continue Reading Federal and State Efforts Intensify Focus on ‘Debanking’
This blog post highlights key trends in financial services litigation for 2025, including the rise in payments litigation, mass and international arbitration, and increased scrutiny on AML and KYC compliance. It also discusses changing regulatory risks, challenges from digital currencies, and the impact of new technologies and AI on legal disputes.
Continue Reading 5 Trends to Watch: 2025 Financial Services Litigation
On June 17, 2024, the FTC filed a federal court complaint against Adobe and two of its executives. The complaint alleges that Adobe deceived consumers by failing to adequately disclose that its annual subscription plans were subject to an ETF and by making it difficult for consumers to cancel their annual subscription plans.
The Consumer Financial Protection Bureau (CFPB) and a coalition of trade-group plaintiffs filed dueling briefs last week over recusal standards in the Fifth Circuit lawsuit challenging the CFPB’s $8 credit card late fee final rule. On April 8, 2024, the court requested supplemental briefing on whether a judge’s ownership interest in a non-party large
In the ongoing lawsuit between the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and Texas Association of Business (Plaintiffs) and the Consumer Financial Protection Bureau (CFPB) in the U.S. District Court for the Northern District of Texas
In response to the lawsuit filed by the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and Texas Association of Business in the U.S. District Court for the Northern District of Texas over its new rule to limit
On March 7, the U.S. Chamber of Commerce and bank trade groups including the Fort Worth Chamber of Commerce, Longview Chamber of Commerce, American Bankers Association, Consumer Bankers Association, and Texas Association of Business (Plaintiffs) sued the Consumer Financial Protection Bureau (CFPB) in the United States District Court for the Northern District of Texas over
On Feb. 16, 2024, the Consumer Financial Protection Bureau (CFPB) updated its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. This is the first update to the process since 2015, when the CFPB reviewed its appeals process. Any entity subject to an examination under the CFPB’s
