The CFPB on Aug. 26, 2025, issued a proposed rule to adopt a legal standard applicable to supervisory designation proceedings. Specifically, the CFPB is proposing to adopt a standard definition of "risks to consumers with...more
8/28/2025
/ Administrative Procedure Act ,
Comment Period ,
Congressional Review Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Effective Date ,
Nonbank Firms ,
Proposed Rules ,
Regulatory Oversight ,
Risk Management ,
Rulemaking Process ,
Statutory Interpretation ,
Supervision
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 The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more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
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
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
U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more
2/27/2025
/ Administrative Procedure Act ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Dodd-Frank ,
Enforcement Actions ,
Fair Credit Reporting Act (FCRA) ,
FDIC ,
Federal Reserve ,
Final Rules ,
OCC ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
State Attorneys General