Law and legal issues

Judges on the U.S. Court of Appeals for the District of Columbia struggled to find a resolution to an injunction issued last year that halted reductions-in-force by the Consumer Financial Protection Bureau.

The CFPB is in an existential legal brawl against it's own acting director, Russell Vought, and President Donald Trump, whose confirmed goal is to kill the agency.

The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.

The Wall Street investment bank had staunchly defended Kathy Ruemmler over her previous association with Jeffrey Epstein. 

The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.

The company allegedly made more than $200 million in "improper payments" before filing Chapter 11 earlier this week, lenders claimed, citing dividends and bonuses to corporate insiders.

Rocket denied the allegations, saying the lawsuit is a retread of a case the Consumer Financial Protection Bureau filed that was quickly dismissed.

The step came after FAT Brands didn't make interest payments due in October on some of its $1.2 billion in whole-business securitization debt.

Mortgage borrowers filed a third amended class action complaint against the bank over modification issues from 2010 to 2015.

The Supreme Court Wednesday appeared skeptical of the Justice Department's argument that removal of a Federal Reserve governor is unreviewable or that the president's preference for Fed governors outweighs the harm to the Fed from curbing the central bank's political independence.

The Consumer Financial Protection Bureau has backed off enforcement and supervision of consumer protection laws, leaving states to fill the void — and potentially creating a "patchwork" of state laws that banks will have to comply with.

A Florida man's racketeering class action case accuses two mortgage employees of conspiring with a homebuilder to facilitate fraudulent construction draws.

The Senate allowed the nomination of a permanent director of the Consumer Financial Protection Bureau to lapse, giving acting Director Russell Vought more time to lead the agency on a temporary basis.

The Consumer Financial Protection Bureau will face an existential crisis in 2026 between the Trump administration's efforts to shut down the agency and the employee union and consumer advocates who want to stop them.

Proxy advisory firm Institutional Shareholder Services recommended approval of Fifth Third's $10.9 billion proposed acquisition of Comerica.

A federal appeals court agreed to have the full bench rehear arguments by the Consumer Financial Protection Bureau's union about whether the Trump administration planned to gut the agency through mass firings.

The Department of Justice wants Federal Reserve Chair Jerome Powell to state if the central bank is profitable again and can, therefore, fund the Consumer Financial Protection Bureau.

A federal court cannot modify a preliminary injunction to compel the acting director of the Consumer Financial Protection Bureau to request funding for the agency, the Department of Justice said.

Hahn's experience includes innovative retail structures for conglomerates, holding companies, private funds and private real estate investment trusts.

The Trump administration's decision not to seek funding for the CFPB and transferring remaining enforcement cases to the Department of Justice were cited as reasons for the resignation of Michael G. Salemi, who took over as CFPB enforcement chief earlier this year.