CFPB Vacatur Bid Sheds Light On Agency Decision-Making

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On March 26, the Consumer Financial Protection Bureau filed a motion, jointly with Townstone Financial Inc., to vacate the judgment and settlement in the enforcement action it settled with Townstone in November.

The motion is remarkable on its own, given the intense scrutiny of the action and the resources spent by the CFPB, including a successful appeal. 

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Jason McElroy