Consumer Finance Monitor

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To keep you informed of the latest developments in the rapidly evolving regulation of consumer financial services, we have expanded the scope of our award-winning CFPB Monitor blog. Our new Consumer Finance Monitor features the State CFS Monitor to cover important state agency and attorney general developments and the Federal CFS Monitor to cover important developments at the FTC, the FCC, the DOJ and the federal bank regulatory agencies (OCC, FDIC, FRB, and NCUA). And, of course, it also includes our flagship CFPB Monitor, which continues to provide unparalleled coverage of the CFPB. You can find news segmented by agency to the right. Or you can follow all new developments below. As always, you can count on us to deliver the breaking news and insightful analysis you need to stay agile and informed. Source

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Scope National, Trade/B2B
Language English
Country United States of America
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Banking and Consumer Credit Trade Associations Challenge Oregon’s DIDMCA Opt-Out Law

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By Alan Kaplinsky, Burt M. Rublin
| Consumer Finance Monitor
Three leading financial services trade associations (the National Association of Industrial Bankers (NAIB), the Online Lenders Alliance (OLA), and the American Financial Services Association (AFSA)) have just filed a lawsuit in Federal District Court in the District of Oregon challenging a recently enacted Oregon law effective June 5, 2026, that seeks to impose Oregon’s 36% interest-rate cap on consumer finance loans made by out-of-state state-chartered banks in their home states to Oregon...
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Trump Nominates Brian Johnson to Lead CFPB: A Strong Choice, But Is There Another Reason for the Timing?

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By Alan Kaplinsky, Adam Maarec
| Consumer Finance Monitor
President Trump has nominated Brian Johnson for a five year term to serve as Director of the Consumer Financial Protection Bureau (CFPB). Johnson is the third nomination Trump has made to fill the position. The first two nominations were Jonathan McKiernan and Stuart Levenbach. Perhaps, the third time will be a charm. From a qualifications standpoint, Johnson appears to be an exceptionally strong choice.
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NCUA Issues Interim Final Rule Clarifying Federal Credit Union Authority to Charge Non-Interest Fees and Preempt State Regulation

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By Alan Kaplinsky, Kaley Schafer
| Consumer Finance Monitor
On June 8, 2026, the National Credit Union Administration (NCUA) announced the adoption of an Interim Final Rule clarifying the authority of federal credit unions (FCUs) to impose non-interest charges and fees, including interchange fees associated with payment card transactions. The rule, which becomes effective on June 30, 2026, reinforces NCUA’s position that federal law exclusively governs FCUs’ authority to assess such fees and that state laws purporting to regulate those fees are preempted.
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Agent Provocateur: How AI Shopping Bots Are Testing Retail Legal Boundaries

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By Adam Maarec, Stephanie Sheridan, Meegan Brooks
| Consumer Finance Monitor
Adam Maarec, Stephanie A. Sheridan, and Meegan Brooks, all members of Ballard Spahr’s Litigation Department, examined the effect of artificial intelligence-powered shopping tools on consumers and brands alike. Writing for TotalRetail, they outline key legal issues that companies should look out for, as well as recommended actions to be best prepared for the evolving landscape around AI. Read the full article here. (Subscription may be required.)
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New Study Suggests Investors Place Significant Value on Arbitration Clauses and Class-Action Waivers

| Consumer Finance Monitor
For years, the debate over mandatory arbitration clauses and class-action waivers in consumer financial services contracts has largely focused on questions of consumer protection, access to justice, the validity of class action waivers in arbitration provisions, and the value of class actions as a tool for redressing systemic consumer harm and litigation policy.
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Prominent Consumer Credit Scholars and Center for Individual Freedom File Amicus Brief Supporting Plaintiffs in Colorado Opt-out Appeal

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By Alan Kaplinsky, Burt M. Rublin, Ronald K. Vaske
| Consumer Finance Monitor
On June 2, 2026, Professors Todd Zywicki and Thomas Miller, Jr., together with the Center for Individual Freedom, filed an amicus brief in support of the plaintiff trade associations in National Association of Industrial Bankers, et al. v. Weiser, currently pending before the U.S. Court of Appeals for the Tenth Circuit, sitting en banc.
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U.S. Chamber of Commerce Amicus Brief Urges Tenth Circuit to Reject Presumption Against Preemption in Colorado DIDMCA Case

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By Alan Kaplinsky, Burt M. Rublin, Ronald K. Vaske
| Consumer Finance Monitor
The en banc Tenth Circuit continues to receive substantial support for affirming the district court’s decision in National Association of Industrial Bankers v.
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Twenty-One States File Amicus Brief Supporting Challenge to Colorado’s Effort to Regulate Interest Rates Charged by Out-of-State State Banks

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By Alan Kaplinsky, Burt M. Rublin, Ronald K. Vaske
| Consumer Finance Monitor
The en banc proceedings in National Association of Industrial Bankers v. Weiser continue to attract significant attention.
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FDIC Files Amicus Brief Supporting Challenge to Colorado’s Opt-Out Interest Rate Law

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By Alan Kaplinsky, Burt M. Rublin, Ronald K. Vaske
| Consumer Finance Monitor
On June 4, 2026, the Federal Deposit Insurance Corporation (FDIC) filed an amicus brief in the en banc proceedings pending before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v. Weiser, strongly supporting the plaintiffs-appellees’ challenge to Colorado’s attempt to apply its usury laws to loans made by out-of-state, state-chartered banks.
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OCC Files Amicus Brief Supporting Challenge to Colorado’s Opt-Out Law and Defending Longstanding Interest-Rate Exportation Principles

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By Alan Kaplinsky, Burt M. Rublin, Ronald K. Vaske
| Consumer Finance Monitor
On June 4, 2026, the Office of the Comptroller of the Currency (OCC) filed an amicus brief in the en banc proceedings before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v. Weiser, urging the court to affirm the district court’s preliminary injunction against Colorado’s opt-out statute and reject Colorado’s attempt to apply its interest-rate restrictions to loans made by out-of-state state-chartered banks.
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Consumer Finance Monitor Journalists

Andreano, Richard J.