In the wake of the Tenth Circuit’s decision in National Association of Industrial Bankers v. Weiser, 159 F.4th 694 (10th Cir. 2025), Oregon legislators have once again introduced legislation that would “opt out” of Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA), pursuant to the opt-out right conferred by Section 525 of that Act.… Continue Reading

The NCUA board has approved a plan to continue the agency’s temporary 18% rate ceiling for most loans made by federal credit unions.

Section 107(5)(A)(vi)(I) of the Federal Credit Union Act, 12 U.S.C. 1757(5)(A)(vi)(I), limits federal credit unions to a 15% interest rate ceiling on loans but authorizes the NCUA board to increase rates for up to 18 months after certain required consultations and if certain conditions are met.… Continue Reading

Since its inception in 2011, the CFPB has cost consumers between $237 billion and $369 billion, the Trump Administration’s Council of Economic Advisers (CEA) said, in a report.

“Through a combination of regulation, supervision, and the threat of enforcement actions, the CFPB has raised costs for both borrowers and lenders,” the CEA said, adding that the largest component– increased borrowing costs–accounts for $222 billion to $350 billion of this total.… Continue Reading

For the first time since 2017, the total number of college- and university-affiliated credit card issuers did not decrease, but stayed at 133, according to the CFPB’s annual “College Credit Card Agreements” report.

The Credit Card Accountability, Responsibility and Disclosure Act requires the bureau to issue an annual report on the agreements between credit card issuers, institutions of higher education and certain organizations affiliated with such institutions.… Continue Reading

On today’s Consumer Finance Monitor podcast, we are releasing an episode about a timely and wide-ranging discussion on one of the most significant and fastest-evolving developments in commercial finance: the rapid “consumerization” of small business lending law.

In this episode, host Alan Kaplinsky welcomes Louis Caditz-Peck, Executive Director of the Responsible Business Lending Coalition (RBLC), for an in-depth conversation about the proliferation of state small business lending protection statutes, the policy debates driving them, and what they mean for lenders, fintechs, banks, and small business borrowers.… Continue Reading

On February 12th, Senator Bernie Moreno (R-OH) and Representative Warren Davidson (R-OH) introduced the American Lending Fairness Act of 2026, legislation designed to restore long-standing federal interest rate exportation authority for state-chartered banks and credit unions engaged in interstate lending. The bill directly responds to the Tenth Circuit’s controversial 2-1 decision in National Association of Industrial Bankers v.… Continue Reading

The FTC has announced that it has submitted  an Advance Notice of Proposed Rulemaking (ANPRM) regarding negative option plans to the OMB Office of Information and Regulatory Affairs (OIRA) for review — an indication that the commission may be interested in revisiting click-to-cancel issues.  The OIRA has disclosed that it received the ANPRM on February 4. … Continue Reading

The U.S. Government Accountability Office (GAO) recently released a report in response to a request by members of Congress that it assess the effect of recent stop-work orders, workforce reductions, contract terminations, and other related actions on the CFPB’s ability to fulfill its statutorily mandated functions. The report addresses the status of CFPB’s significant reorganization and downsizing efforts from February through August 2025.… Continue Reading

We were honored to host former New Jersey Attorney General Matt Platkin on our live webinar on January 17, 2025 where I conducted a “fireside chat” with him that, because of its popularity, was later repurposed on our weekly podcast show, Consumer Finance Monitor. At that time, Matt spoke passionately about the evolving landscape of consumer protection and how his office was preparing to fill the anticipated gap left by efforts to scale back the Consumer Financial Protection Bureau (CFPB).… Continue Reading

The Justice Department and State of Texas recently entered into a settlement agreement with Colony Ridge Development, LLC and related entities (Colony Ridge) to settle allegations that Colony Ridge violated certain federal and state laws. The Justice Department had alleged violations of the Equal Credit Opportunity Act (ECOA) and Fair Housing Act (FHA).… Continue Reading