Jonathan Pompan, partner and Chair of Venable's Consumer Financial Services Practice Group, presented on the panel "What Now – Putting the pieces together after the U.S Court of Appeal for the Fifth Circuit Court invalidates the Small Dollar Rule," a webinar hosted by the Online Lenders Alliance (OLA) on October 25, 2022.
The U.S Court of Appeal for the Fifth Circuit recently ruled that the funding structure of the CFPB was unconstitutional, invalidating the payments provisions of the Small Dollar Rule. To help sort out these decisions, OLA hosted a webinar roundtable to discuss how the court’s actions will affect the future of the CFPB and its impact on the small dollar lending market and companies’ compliance programs going forward.