U.S. District Court Judge Barbara J. Rothstein granted, in part, the CFPB's motion to withdraw its amicus brief filed by the Biden-era CFPB regarding the "proper interpretation of the Fair Debt Collection Practices Act's...more
6/26/2025
/ Advisory Opinions ,
Amicus Briefs ,
Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
FDCPA ,
Guidance Documents ,
Judicial Authority ,
Regulatory Agencies ,
Statutory Interpretation ,
Trump Administration
The CFPB has requested that a federal district court vacate the Biden-era Open Banking Rule (Rule) in a motion for summary judgment filed on May 30, 2025. The CFPB had previously submitted a status report to the U.S. District...more
The CFPB has withdrawn its 1) Fair Credit Reporting Act (FCRA)/Regulation V Proposed Rule (Data Broker Rule), 2) Prohibited Terms and Conditions in Agreements for Consumer Financial Products or Services (Regulation AA)...more
5/16/2025
/ Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Brokers ,
Deregulation ,
Dodd-Frank ,
EFTA ,
Enforcement Authority ,
Fair Credit Reporting Act (FCRA) ,
Final Rules ,
Interpretive Rule ,
Regulation E ,
Regulatory Requirements ,
Rescission ,
Trump Administration
President Donald Trump on May 9, 2025, signed into law measures to eliminate two CFPB rules established under the Biden Administration. The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more
5/14/2025
/ Banks ,
Biden Administration ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Financial Institutions ,
FinTech ,
Mobile Apps ,
Overdraft Fees ,
Payment Systems ,
Popular ,
Rescission ,
Trump Administration
The CFPB will begin the process of discontinuing regulatory "guidance" and instead enforce the Administrative Procedure Act's rulemaking process. In a pair of internal memos circulated to all divisions and offices within the...more
The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more
4/10/2025
/ Biden Administration ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Dodd-Frank ,
Financial Institutions ,
Lenders ,
Loans ,
New Legislation ,
Proposed Rules ,
Regulatory Reform ,
Rulemaking Process ,
Section 1071 ,
Small Business Loans