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Employment Discrimination Class Action Filed Against CFPB

CFPB Monitor

District Court, District of Columbia, No. District Court, alleges violations of the 1866 Civil Rights Act, Title VII of the 1964 Civil Rights Act and the 1963 Equal Pay Act. The case is captioned at, Jones et al v. Mulvaney, U.S. The Complaint, filed on September 13, 2018, in the D.C.

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CFPB Issues Interpretive Rule Clarifying that Sex Discrimination under ECOA and Regulation B Includes Sexual Orientation and Gender Identity Discrimination

CFPB Monitor

Under the leadership of Acting CFPB Director Dave Uejio, the Bureau issued an interpretive rule on March 9, 2021 clarifying that the prohibition against sex discrimination under the Equal Credit Opportunity Act (“ECOA”) and Regulation B includes sexual orientation and gender identity discrimination.

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The CFPB Found Unconstitutional…But …

PYMNTS

The Consumer Finance Protection Bureau suffered a major blow in Federal Appeals Court yesterday when a three judge panel ruled that parts of its leadership structure are unconstitutional. This decision was taken as part of mortgage lender’s PHH Corp. appeal of the 2014 $109M financial penalty imposed by the CFPB.

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OCC Chief Praises Mulvaney On Halting Payday Rule

PYMNTS

The job of regulators “is to help our system fulfill its important role in society by ensuring it operates in a safe and sound manner and treats customers fairly,” Otting said in a press release. ” “I have been impressed with Mick’s leadership and emphasis on operational efficiency and excellence,” Otting added.

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Democratic lawmakers, consumer advocacy groups seek to intervene in PHH appeal

CFPB Monitor

This past Monday, the Democratic Attorneys General of 16 states and the District of Columbia filed a motion with the D.C. Circuit seeking to intervene in the PHH appeal. Today, two more motions to intervene were filed.

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Banking Regulation Predictions 2018:  U.S. Reform Takes Off

FICO

2017 was highlighted by a series of Executive Orders calling for comprehensive reviews of existing regulations, a series of reports issued by the U.S. Department of the Treasury accompanied by recommendations for significant regulatory reforms, and major changes in leadership (and vision) at many of the federal banking agencies.