Law and legal issues

The Department of Justice told a court that the Consumer Financial Protection Bureau cannot legally request funding from the Federal Reserve System, arguing that the Fed has not turned a profit since 2022 and thus cannot fund the CFPB.

A trade group for participants in the clean energy loan program argues the upcoming regulations will be too burdensome and costly for participants.

The Department of Justice has filed a motion opposing the Consumer Financial Protection Bureau employee union's appeal of an August D.C. Circuit ruling allowing the administration to fire up to 90% of the agency's workforce.

Retroactive interpretations have bedeviled mortgage servicers and the market for older loans. The industry will be watching other cases in New York closely now.

Legal experts say the Supreme Court's decision not to immediately rule on a request to remove Federal Reserve Gov. Lisa Cook from office suggests that, whatever the court's views on independent agencies may be, it views the central bank differently.

The Supreme Court said Wednesday that it would defer President Donald Trump's request for a stay until after oral arguments scheduled for January 2026, allowing Federal Reserve Governor Lisa Cook to remain on the board at least until then.

President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.

Origin Bancorp, Renasant Bank and Triumph Financial are the latest financial institutions to report exposure to the bankrupt auto lender Tricolor, joining a list that includes Fifth Third, Barclays and JPMorganChase.

The Consumer Financial Protection Bureau told its staff to expect an upcoming reduction in force because the agency's budget was cut in half by the president's recently passed tax and budget bill.

A pension fund has been suing former executives over two decades for misleading investors about the company's subprime holdings before the financial crisis.

The Federal Open Market Committee member is the third Democrat the Trump administration has accused of committing occupancy fraud.

The firm's 11th deal jumps in size over last year's and offers new single-B risk.

A judge ruled the Pennsylvania lender had to commit to its increased fair lending obligations for three more years, as it wouldn't harm the public interest.

The case pitted high-profile senior-tranche investors like PIMCO against junior bondholders the interpretation of contracts that predated later policy changes.

Calls for foreclosure prevention advice jumped upward by almost 30% from a year ago and helped fuel overall consumer distress levels to a five-year high.

Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.

A Trump-appointed judge refused to dismiss a settlement between the Consumer Financial Protection Bureau and a Chicago mortgage lender over lending practices that an appeals court already said violated the Equal Credit Opportunity Act.

The Trump administration's plan to fire 90% of the staff at the Consumer Financial Protection Bureau has raised constitutional questions about whether courts can decide whether a president is taking "care that the Laws be faithfully executed."

Firing 90% of the Consumer Financial Protection Bureau's staff and stripping it down to "the statutory studs" is lawful, an attorney for the CFPB told an appeals court.

The closely watched case centers on bank allegations the government corporation promised certain reverse-mortgage assets in return for funding then reneged.