CFPB Challenges: Courts Are Opening the Door

Posted on 10-14-2017 by
Tags: CFPB , consumer financial protection bureau

money stacks


Courts Open The Door to CFPB Challenges

The Consumer Financial Protection Bureau had a rough summer that seems to be continuing into the fall. Several District Courts seem willing to rule on CFPB claims, giving parties more reason to take their business to the courts.

Judiciary is Willing to Examine CFPB Claims

Notably, one court recently refused to allow the CFPB to pursue deception and abusiveness claims for conduct prior to the July 21, 2011, passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Another court refused to award any consumer restitution when the CFPB attempted to collect restitution for every customer who signed up for an allegedly deceptive service without providing a basis for the theory that every customer was deceived. The cases demonstrate a willingness by the judiciary to carefully examine CFPB claims and may embolden more parties to litigate rather than accept the CFPB’s settlement demands. 3 District Court Decisions Highlight Limits To CFPB Claims, Law360, October 11, 2017

See the implications and get analysis of these recent decisions below:


Your comment has been posted.   Close
Thank you, your comment requires moderation so it may take a while to appear.   Close