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
Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more
4/11/2025
/ Banking Sector ,
Big Tech ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Wallets ,
Final Rules ,
Financial Regulatory Reform ,
FinTech ,
Mobile Apps ,
Overdraft Fees ,
Overdraft Rule ,
Payment Systems ,
Popular ,
Proposed Legislation ,
Trump Administration ,
UDAAP
Full Senate consideration for Jonathan McKernan to become director of the Consumer Financial Protection Bureau (CFPB) is not officially scheduled but is expected to take place in May based on recent comments by Senate Banking...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
As previously reported by Holland & Knight, Judge Amy Jackson of the U.S. District Court for the District of Columbia on March 28, 2025, issued a preliminary injunction and ordered the Consumer Financial Protection Bureau...more
U.S. District Court Judge Amy Berman Jackson granted the plaintiffs' motion for preliminary injunction in NTEU v. Vought on March 28, 2025, primarily requiring the Consumer Financial Protection Bureau (CFPB) to reinstate all...more
4/1/2025
/ Administrative Procedure Act ,
Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
De Novo Standard of Review ,
Department of Justice (DOJ) ,
Government Agencies ,
Hiring & Firing ,
Involuntary Reduction in Force ,
Preliminary Injunctions ,
Trump Administration ,
Unions
Just two days before its Payday, Vehicle Title, and Certain High-Cost Installment Loans final rule was slated to go into effect (and eight years after it was finalized), the Consumer Financial Protection Bureau (CFPB)...more