Filed Date: July 23, 2025
Case Ongoing
Clearinghouse coding complete
On July 23, 2025, Rise Economy, an organization that supports low income communities and communities of color in accessing credit, financial services, and investments, the National Community Reinvestment Coalition, whose mission is to help increase the flow of capital into underserved communities, Main Street Alliance, a national network of small businesses, and a small business owner filed suit against the Consumer Financial Protection Bureau (CFPB) in the U.S. District Court for the District of Columbia. Plaintiffs alleged that the CFPB unlawfully delayed implementation of Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, in violation of the Administrative Procedure Act (APA) and the Equal Credit Opportunity Act.
Section 1071’s Lending Transparency Rule amended the Equal Credit Opportunity Act to require financial institutions to collect and disclose data on credit applications from women-owned, minority-owned, and small businesses. Congress enacted the provision in 2010 to enhance transparency and combat discriminatory lending practices. Although Congress initially required compliance by 2024, it later extended the deadline to 2025.
Plaintiffs asserted that the Trump Administration’s April 20, 2025, announcement that it would not comply with the statutory deadline constituted an unlawful abandonment of a congressional mandate. They further challenged the CFPB’s interim final rule (2025 IFR), issued on June 17, 2025, without notice-and-comment procedures, which further delayed compliance until July 1, 2026.
Plaintiffs sought declaratory and injunctive relief, asking the court to declare invalid, vacate, and set aside the 2025 IFR and policy of not enforcing Section 1071 and the Lending Transparency Rule, as well as attorneys’ fees and costs. . The case was assigned to Judge Dabney L. Friedrich.
Summary Authors
Liv Akkerman-Byram (7/31/2025)
For PACER's information on parties and their attorneys, see: https://www.courtlistener.com/docket/70892667/parties/rise-economy-v-vought/
Friedrich, Dabney Langhorne (District of Columbia)
Boisture, Pooja (District of Columbia)
Fried, Rachel L. (District of Columbia)
Perryman, Skye (District of Columbia)
Sandberg, Justin Michael (District of Columbia)
See docket on RECAP: https://www.courtlistener.com/docket/70892667/rise-economy-v-vought/
Last updated Aug. 23, 2025, 11:11 a.m.
State / Territory: District of Columbia
Case Type(s):
Fair Housing/Lending/Insurance
Special Collection(s):
Trump Administration 2.0: Challenges to the Government
Key Dates
Filing Date: July 23, 2025
Case Ongoing: Yes
Plaintiffs
Plaintiff Description:
Rise Economy, which provides aid to low income communities and communities of color in accessing credit, financial services, and investments, the National Community Reinvestment Coalition (NCRC) whose mission is to help increase the flow of capital into underserved communities, Main Street Alliance, a national network of small businesses, and a small business owner
Attorney Organizations:
Public Interest Lawyer: Yes
Filed Pro Se: No
Class Action Sought: No
Class Action Outcome: Not sought
Defendants
Consumer Financial Protection Bureau (- United States (national) -), Federal
Defendant Type(s):
Facility Type(s):
Case Details
Causes of Action:
Ex Parte Young (Federal) or Bivens
Administrative Procedure Act, 5 U.S.C. §§ 551 et seq.
Equal Credit Opportunity Act (ECOA), 15 U.S.C. § 1691
Available Documents:
Outcome
Prevailing Party: None Yet / None
Nature of Relief:
Source of Relief:
Issues
General/Misc.: