CFPB drops slew of cases

A newsletter by Reuters and Westlaw

By Caitlin Tremblay

What's going on today?

Enjoy your day.

REUTERS/Brendan McDermid/File Photo

The CFPB dropped a series of enforcement actions against financial services companies accused of wrongdoing under the prior administration, including a major case against Capital One for allegedly avoiding billions in interest payments. The CFPB also dismissed its lawsuit accusing Vanderbilt Mortgage and Finance, a unit of Warren Buffett's Berkshire Hathaway, of driving borrowers into loans they could not afford in order to buy homes from Berkshire's Clayton Homes unit. Read more about the other dismissed cases.

The dismissals continue President Donald Trump's rapid moves to dismantle the agency, which he has said should be eliminated. They occurred while his nominee to head the CFPB, Jonathan McKernan, was on Capitol Hill testifying before the Senate in a confirmation hearing.

Attorney Alex Spiro, Sept. 30, 2024. REUTERS/Brendan McDermid

Some top partners at Quinn Emanuel, including partner Alex Spiro, are now charging a standard fee of $3,000 an hour, Reuters reported this week, marking what appears to be a new high for the industry. With law firm billing rates swiftly rising at big firms around the country and nearly doubling in the past decade, lawyers at other large firms are not far behind. See which firms are now charging top hourly rates above $2,500.

Billable Hours is Reuters' weekly report on lawyers and money. Please send tips or suggestions to D.Thomas@thomsonreuters.com.

Exclusive: More than 1,000 Syrians died in airport prison under Assad, a report says … Services to millions of people collapse as USAID cuts contracts worldwide … Measles death in Texas puts Kennedy's vaccine views to the test … Actor Gene Hackman and wife found dead alongside their dog at home … Mount Vesuvius eruption turned a man's brain into glass … Katy Perry and Lauren Sanchez are among Blue Origin's planned all-female crew to space … And our top photos of the day.

caitlin.tremblay@thomsonreuters.com

@ctrembz

The Afternoon Docket is sent 5 days a week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.

Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here.

Reuters Terms & Conditions and Privacy Statement