President Donald Trump on July 4, 2025, signed into law the One Big Beautiful Bill Act (OBBB), sweeping legislation that has direct impacts on the future of the CFPB. The final bill reduces the CFPB's operating budget from 12...more
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 U.S. House of Representatives has passed an extensive budget reconciliation bill that would reduce the CFPB budget by 70 percent. In a 215-214 vote along party lines, the budget cut first approved by the House Committee...more
The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more
5/28/2025
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Final Rules ,
Mortgages ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Rescission ,
RESPA ,
Rulemaking Process
The CFPB announced on May 9, 2025, that nearly 70 guidance documents will be withdrawn after an agency-wide review of documents that violate the Administrative Procedure Act (APA). ...more
CFPB Chief Legal Officer Mark Paoletta on April 16, 2025, issued the CFPB's latest staff memo outlining the agency's supervision and enforcement priorities. ...more