Law360, July 23, 2025, CFPB Sued Over Retreat From Biden-Era Small-Biz Loan Rule
Vought and the CFPB “consciously and expressly adopted a general policy of abdicating their statutory responsibility to enforce Section 1071,” the plaintiffs said in their complaint. “Defendants have acted not in accordance with law and in excess of statutory authority.”
Representatives for the CFPB did not immediately respond to a request for comment Wednesday.
The groups behind the lawsuit include Rise Economy, the National Community Reinvestment Coalition and Main Street Alliance. They have brought the case with counsel from Democracy Forward, a progressive group that has been heavily involved in suing the Trump administration
