Worldwide: Consumer Protection

House and Senate committees are preparing to hold hearings on the Bureau of Consumer Financial Protection's semi-annual report, marking a significant moment as Trump Administration CFPB officials testify before Congress for the first time. Acting Director Russell Vought will appear as the sole witness before both committees, while the Senate considers the nomination of Brian Johnson as the next permanent CFPB director.

On June 18, 2026, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC; together with the SEC, the Commissions) issued a joint request for comment...

The Chicago Mercantile Exchange has filed a lawsuit against the CFTC challenging its approval of Kalshi's bitcoin perpetual futures contract, arguing that perpetual contracts should be classified as swaps rather...

The U.S. Department of Education has published a final rule establishing a new earnings premium measure for Title IV programs, marking a historic shift in higher education accountability. This congressionally mandated framework applies universally to all Title IV institutions and their eligible programs, fundamentally changing how educational outcomes are evaluated. The rule follows negotiated rulemaking and incorporates modifications based on public feedback.

On July 1, 2026, the U.S. Department of Education published a final rule implementing a new Title IV-program earnings premium measure established by Congress one year ago in the Working Families Tax Cut Act...

National nursing organizations have filed federal lawsuits challenging a U.S. Department of Education rule that excludes advanced practice nursing degrees from the "professional student" classification, limiting federal loan access to $20,500 annually instead of $50,000. The plaintiffs argue that advanced practice nurses meet the same educational, licensure, and professional standards as other healthcare professionals explicitly included in the rule, such as physicians, dentists, and pharmacists.

New York City's Department of Consumer and Worker Protection reached a settlement with Way.com over allegations that the online booking platform promoted illegal, unlicensed parking facilities. The company agreed to pay $200,000 in civil penalties and implement monitoring procedures to identify unlicensed facilities on its platform.

The Federal Trade Commission has escalated its enforcement of Made in USA claims by sending warning letters to seven companies, following President Trump's executive order prioritizing such enforcement. Companies face potential civil penalties of up to $53,088 per violation if they cannot substantiate that "all or virtually all" of their products were made in the USA, including claims made through social media hashtags.

The Federal Trade Commission secured a $35 million settlement with travel booking app Hopper Inc. over allegations of deceptive hidden fees, including pre-selected charges for tips and VIP support that were concealed below the booking interface. Internal documents reportedly showed company awareness that these practices were "tricking users," with the FTC alleging Hopper collected approximately $85.6 million through these questionable fee structures between 2021 and 2023.

The Consumer Financial Protection Bureau has issued a request for information examining the TRID rule's timing requirements, tolerance thresholds, and disclosure procedures for mortgage lending. The RFI explores potential regulatory adjustments to reduce operational burdens on creditors while maintaining consumer protections, including questions about materiality-based standards, rescission rights for refinance transactions, and streamlined disclosure requirements for reverse mortgages.

Minnesota has enacted legislation to license small and short-term loan arrangers while exempting certain mortgage originators and servicers from specific licensing requirements. Vermont has also passed a commercial financing licensing bill, marking significant developments in state-level financial services regulation.

Explore the latest developments in consumer finance law through expert analysis and discussion. This podcast episode examines regulatory changes, compliance challenges, and emerging trends affecting financial institutions and consumers alike. Stay informed about the legal landscape shaping consumer financial services.