A federal judge, at the request of the FTC, recently ordered Cliq Inc., a payment processing company, and its operators to pay $6.5 million for violating a 2015 federal court order intended to prevent the company from assisting in consumer fraud.

U.S. District Court in Nevada entered the order finding Cliq Inc, formerly known as Cardflex Inc.,… Continue Reading

The FTC has continued to crackdown on subscription billing and cancellation practices it considers unlawful.

Recently, at the urging of the FTC, a federal court agreed to temporarily stop a large business enterprise allegedly built on deceptive subscription schemes from continuing to deceive consumers with hidden costs and recurring charges, while failing to provide simple means to cancel their subscriptions.… Continue Reading

On June 25, 2026, DC-based Women in Housing & Finance hosted Senior Advisor and Counsel to the Director of the Consumer Financial Protection Bureau, Elie Greenbaum, for a wide-ranging discussion on the Bureau’s current policy priorities and regulatory outlook. Following are notable updates on the CFPB’s agenda for industry participants. This report is based on the input of several members of our Consumer Financial Services Group who attended the meeting. … Continue Reading

In a pair of very important decisions issued today, the U.S. Supreme Court reshaped the constitutional landscape governing independent federal agencies. In Trump v. Slaughter, Court overruled the 91-year-old precedent of Humphrey’s Executor v. United States, 295 U.S. 602( 1935),  and held that members of the Federal Trade Commission may be removed by the President at will, notwithstanding statutory “for cause” removal protections.… Continue Reading

On June 25, 2026, Illinois Governor J.B. Pritzker signed into law the Buy-Now-Pay-Later Loan Consumer Protection Act (the “Act”), Public Act 104-475. The legislation establishes a comprehensive licensing and supervisory framework for providers of buy now, pay later (“BNPL”) products operating in Illinois.

The Act, which becomes effective on January 1, 2028 (unless a later effective date is provided by rule), places Illinois among the first states to enact a regulatory regime specifically tailored to BNPL products, although BNPL products are covered by existing laws in a number of states.… Continue Reading

The federal regulation of open banking in the United States has been in an extraordinary state of limbo. The Consumer Financial Protection Bureau’s final rules implementing Section 1033 of the Dodd-Frank Act, the product of a long rulemaking journey that began in 2016, remain codified in the Code of Federal Regulations but are effectively unenforceable.… Continue Reading

After much back and forth between the U.S. House of Representatives and Senate over an extended period of time, both chambers have passed major housing legislation entitled “21st Century ROAD to Housing Act.

Although initially a ceremony in which President Trump would sign the Act into law was scheduled for June 24, 2026, the ceremony was canceled with President Trump apparently tying his willingness to sign the legislation to the Senate passing the Save America Act, which includes various provisions regarding federal elections.… Continue Reading

North Carolina has become the first state in the nation to enact a comprehensive prohibition on third-party litigation financing in civil cases. Governor Josh Stein signed House Bill 315, now Session Law 2026-14, titled the “Prohibit Litigation Investments Act” on June 22, 2026, at which point it took effect. It applies to civil proceedings commenced on or after June 22, 2026 or litigation funding contracts entered into, renewed or amended on or after June 22, 2026.… Continue Reading

In a series of five Mortgagee Letters, the U.S. Department of Housing and Urban Development (HUD) recently modified policies for Federal Housing Administration (FHA) insured residential mortgage loans to reduce regulatory burdens and promote affordability. A HUD summary of the modifications indicates that the modifications are in accordance with Executive Order 14393, Promoting Access to Mortgage Credit.… Continue Reading

Apparently building off the comments it received about complaint intake as well as its prior revisions to the complaint portal, on June 24, 2026, the Consumer Financial Protection Bureau (CFPB) issued a press release announcing a series of significant reforms to its consumer complaint system, particularly with respect to credit reporting complaints.… Continue Reading