CFPB Announces Headquarters Relocation and Return-to-Office Plan Amid Ongoing Workforce Reduction Disputes
The Consumer Financial Protection Bureau (CFPB) has announced plans to relocate its Washington, D.C., headquarters to a smaller office building in the city’s southwest quadrant while also implementing a phased return-to-office plan for employees. According to a report from Bloomberg Law, preparations for the new office space began on June 1, with operations staff tasked with readying the facility for employee occupancy. Under the agency’s return-to-office directive, approximately 650 employees who live
Colorado Supreme Court Clarifies Documentation Requirements for Debt Buyers Filing Collection Lawsuits
The Colorado Supreme Court has issued a unanimous decision clarifying the documentation requirements debt buyers must meet when filing collection lawsuits under the Colorado Fair Debt Collection Practices Act (CFDCPA). In Wright v. Portfolio Recovery Associates, LLC, the court held that a debt buyer must attach an assignment or other written documentation that specifically establishes ownership of the consumer’s debt when initiating a collection action. The court also determined that an affidavit cannot be used to replace or remedy missing chain-of-title
New York DFS Issues Cybersecurity Guidance for Financial Institutions Amid Elevated Threat Environment
The New York State Department of Financial Services (DFS) recently released new industry guidance outlining operational measures financial institutions may consider implementing during periods of heightened cybersecurity risk. The guidance highlights growing concerns surrounding increasingly advanced artificial intelligence tools capable of sophisticated cyber operations. According to the DFS, the emergence of highly advanced large-scale AI systems — often referred to as “frontier models” — should prompt organizations to closely evaluate their cybersecurity
Commercial Chapter 11 Bankruptcy Filings Rise Sharply in April 2026
Commercial chapter 11 bankruptcy filings increased 42% in April 2026 compared to the same month in 2025, according to new data released by Epiq AACER and the American Bankruptcy Institute. The report showed 644 commercial chapter 11 filings in April 2026, up from 454 filings recorded in April 2025. Overall commercial bankruptcy filings also rose 21% year over year, reaching 3,060 filings. Small business filings increased 46% during the same period.
Imposter Scams Continue to Surge as Consumer Losses Reach Record Highs
Imposter scams remain the most widespread form of fraud in the United States, holding the top spot for consumer complaints for the ninth consecutive year. New data released by the Federal Trade Commission highlights how scammers are evolving their tactics — and how the financial impact on consumers continues to grow at an alarming pace. According to the FTC, consumers reported losing $3.5 billion to imposter scams in 2025 alone, contributing to overall fraud losses of $15.9 billion. That marks
California Taps Former CFPB Director Rohit Chopra to Lead New Consumer Protection Agency
California Gov. Gavin Newsom has appointed former Consumer Financial Protection Bureau Director Rohit Chopra to lead the state’s newly created consumer protection agency. The new agency, known as California’s Business and Consumer Services Agency (BCSA), will oversee a wide range of regulatory and enforcement bodies, including the Department of Financial Protection and Innovation (DFPI), which supervises debt collectors licensed in the state. The BCSA will also oversee several other California