The Consumer Financial Protection Bureau has signaled its intention to reissue a proposed rule on small business lending data collection. This shift comes after the agency had previously defended the original rule against legal challenges while under the Biden administration. This rule—commonly referred to as Small Business Lending Under the Read More
Whole Foods announced that it has settled a class-action lawsuit claiming that company manipulated an employee bonus program which resulted in lower payouts to its employees. The settlement comes almost 10 years after the allegations were brought against the grocery chain giant. The original lawsuit alleged that multiple Whole Food Read More
Securities and Exchange Commission Chair Mark Uyeda announced the implementation of a “blueprint” designed to slow the Commission’s rulemaking process while improving cost efficiency. Such a “blueprint” entails longer comment periods as well as the rejection and reduction of rules proposed under the leadership of former SEC chair, Gary Gensler. Read More
President Trump fired two Democratic commissioners, Alvaro Bedoya and Rebecca Slaughter, from the Federal Trade Commission, a move that reflects his broader effort to assert control over administrative agencies and reshape the federal government. Trump’s firing has mainly come under question due to the 110-year-old precedential case of Humphrey’s Executor Read More
The Consumer Financial Protection Bureau announced that it dropped its lawsuit against Rocket Homes that alleged the company of offering kickbacks to brokers who referred customers to Rocket Mortgage. This lawsuit which was originally initiated under the CFPB’s previous director, Rohit Chopra was dismissed in a one page notice of Read More
A Chicago-based nonprofit organization, Chicago Women in Trades (CWIT), filed a lawsuit against President Donald Trump and his administration challenging the executive orders that aimed to limit and restrict federal diversity, equity, and inclusion programs. The CWIT’s complaint alleges that those executive orders infringe on its constitutional rights to free Read More
Certain members of the House and Senate introduced a bill that aims to overturn the Consumer Financial Protection Bureau’s final rule that required banks with at least $10 billion in assets to cap overdraft fees at $5. The leaders of the proposed legislation argue that the original rule, which aimed Read More
The Securities and Exchange Commission announced the rescission of guidelines, established during Gary Gensler’s tenure as Chair of the agency, that governed the exclusion of certain shareholder proposals from proxy statements, marking a shift that favors companies in shareholder proposal exclusions. The SEC announced its decision in a Staff Legal Read More
The Department of Justice announced that it will consider conducting criminal and civil investigations against companies with diversity, equity, and inclusion policies in place. This announcement came from a memorandum released by Attorney General Pam Bondi. The memo states that its purpose is to encompass programs, initiatives, or policies that Read More
President Donald Trump has terminated the Director of the Consumer Financial Protection Bureau, Rohit Chopra, and has designated Secretary of the Treasury, Scott Bessent, as Acting Director of the CFPB. Chopra was appointed as director during the Biden administration in 2021, committing himself to making the financial system more reasonable Read More
