Eric Goldberg
LightNews LightNews
banner
eigoldberg.bsky.social
Eric Goldberg
@eigoldberg.bsky.social
100 followers 290 following 11 posts
Future Phillies 3B. Current parent of two teenagers and CFS+ fintech regulatory partner at Davis Wright Tremaine LLP. Former CFPB Managing Counsel.
Posts Replies Media Videos
Reposted by Eric Goldberg
reporterev.bsky.social
The CFPB is rushing to get the open banking rule done before it runs out of money (it claims). And it's probably going to cut a bunch of corners to get it done.

Where are all the sticklers for administrative procedure now?

New from me: news.bloomberglaw.com/banking-law/...
CFPB Likely to Take Quicker Route in Revising Open Banking Rule
The Consumer Financial Protection Bureau is rushing to put out a revised open banking rule that would allow lenders to charge fintechs limited fees for customer data access, as it aims to finish the c...
news.bloomberglaw.com
November 20, 2025 at 6:58 PM
Reposted by Eric Goldberg
reporterev.bsky.social
Per my colleague @oliviaalafriz.bsky.social , who was at the hearing, Judge Jackson has asked the two sides to consider extending their temporary restraining order until the week of March 24 so she can write a ruling. That was informal, so we'll see what happens tomorrow.
reporterev.bsky.social Evan Weinberger @reporterev.bsky.social · Mar 10
Quick update on NTEU v. Vought: Testimony is done for today but they're coming back tomorrow at 1:30 for re-direct questioning of CFPB COO Adam Martinez and two more witnesses for the union plaintiffs.
March 10, 2025 at 9:23 PM
eigoldberg.bsky.social
It seems as if the initial frenzy was not fully fleshed out.
lesliepicker.bsky.social Leslie Picker @lesliepicker.bsky.social · Mar 10
"Now, there’s growing consensus that an initial push to 'delete' the CFPB is a mistake. Besides increasing the threat posed from nonbanks, current rules from the CFPB would still be on the books, but nobody would be around to update them as the industry evolves."

www.cnbc.com/2025/03/10/w...
Here's why banks don’t want the CFPB to disappear
The Consumer Financial Protection Bureau and its employees are in limbo after acting Director Russell Vought took over last month.
www.cnbc.com
March 10, 2025 at 4:04 PM
eigoldberg.bsky.social
All of these enforcement dismissals have been with prejudice, which means the CFPB cannot bring them again under their leadership. At least in theory.
reporterev.bsky.social Evan Weinberger @reporterev.bsky.social · Mar 4
BREAKING: The CFPB dropped its lawsuit against JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., and Early Warning Systems LLC for alleged Zelle fraud.
March 4, 2025 at 5:43 PM
Reposted by Eric Goldberg
marisakabas.bsky.social
BREAKING — The Securities and Exchange Commission (SEC) has just announced the closure of major regional offices in Philly, LA and Chicago, per email shared with me.

“5 alarm fire,” SEC employee tells me.

Full email text:
To: All SEC Employees From: Ken Johnson, Chief Operating Officer Date: March 3, 2025 Subject: RE: Update on LARO, PLRO and CHRO Leases As some of you might be aware, the General Services Administration (GSA) has been involved in a process across federal agencies to review office space leases and potential options for reducing space and related costs. GSA has now decided to end all federal leases goverment-wide where GSA can do so unilaterally and where the agency is not providing direct services to the public. As part of this decision, GSA recently informed us it has decided to teminate the building leases for the Los Angeles Regional Office (LARO) and the Philadelphia Regional Office (PLRO). GSA retains the sole authority to terminate the leases because they manage those leases on our behalf. To be clear, these lease terminations are not associated with any reorganization or reduction in force plan regarding SEC personnel, but rather apply solely to SEC space. As part of the initiative described above, GSA also notified us they intend to terminate the lease for the Chicago Regional Office (CHRO). The SEC has responded to the Administration and pointed out that CHRO's lease terms are different iand do not allow for unilateral GSA termination without significant financial penalties. We will keep you posted as we learn more about GSA's decisions. The SEC will be working with GSA on the process for finding new space for these offices. We understand that GSA aims to have the space exited by the end of August 2025 for PLRO and CHRO, and the end of September 2025 for LARO. It is the SEC's intent that if new office locations are not ready by the time the GSA-initiated lease terminations take effect, then the affected SEC staff will be placed on full-time telework. We will provide more information as we learn it. Thank you.
March 3, 2025 at 9:14 PM
eigoldberg.bsky.social
DOJ doesn't say anything in its brief about what CFPB functions / employees will remain. Saying the CFPB will still exist isn't different than the rumors that they would fire 90% of the staff.
www.politico.com/news/2025/02...
Trump administration says CFPB won't be shut down
The bureau — long a big target of Republicans — is at the center of the Trump administration’s effort to slash the federal bureaucracy.
www.politico.com
February 25, 2025 at 3:22 PM
eigoldberg.bsky.social
There is some justice in the world. www.law360.com/articles/185...
Elizabeth Holmes Loses 9th Circ. Appeal Over Theranos Fraud - Law360
A Ninth Circuit panel on Monday affirmed the criminal fraud convictions of former Theranos CEO Elizabeth Holmes and former Theranos executive Ramesh "Sunny" Balwani along with their respective 11-year...
www.law360.com
February 25, 2025 at 3:20 PM
Reposted by Eric Goldberg
juddlegum.bsky.social
Missouri's AG Andrew Bailey is suing Starbucks, arguing that its workforce is too "female" and "non-white" and as a result Missouri consumers “pay higher prices and wait longer for goods and services" because its workforce is "less qualified"

This is a brazenly racist and sexist lawsuit.
February 14, 2025 at 2:58 PM
Reposted by Eric Goldberg
reporterev.bsky.social
The CFPB canceled all contracts with expert witnesses in enforcement cases as part of its $100 million contract purge this week. It might be the first step to dropping all outstanding litigation.

New from me: news.bloomberglaw.com/banking-law/...
CFPB Nixes All Expert Witness Contracts in Enforcement Shutdown
The Consumer Financial Protection Bureau canceled contracts with all expert witnesses in existing enforcement litigation as it purges more than $100 million in contracts across the agency, an indicati...
news.bloomberglaw.com
February 13, 2025 at 5:22 PM
Reposted by Eric Goldberg
ddayen.bsky.social
The CFPB union has just sued Russell Vought over shuttering the agency
February 10, 2025 at 3:34 AM
eigoldberg.bsky.social
@kickstarter.com -- As you can see from my confirmation screenshot on your website, shipping should be zero. Your creator is trying now to rip me off and charge $19 for shipping. Please help prevent / stop this fraud:
February 7, 2025 at 2:37 PM