The Consumer Financial Protection Bureau (CFPB) is continuing its broad regulatory rollback as it actively solicits public comment on several proposed rescissions, including its nonbank registry rule and state official...more
On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced a sweeping withdrawal of 67 guidance documents issued since the CFPB’s inception, signaling a marked shift in its regulatory approach. This move...more
5/14/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Corporate Counsel ,
Enforcement Actions ,
Executive Orders ,
Final Rules ,
Financial Services Industry ,
Popular ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Rulemaking Process ,
Trump Administration
On April 22, the Consumer Financial Protection Bureau (CFPB) requested the U.S. District Court for the Southern District of New York to remove the bureau as a plaintiff in CFPB v. Credit Acceptance Corporation, a case that...more
After weeks of former CFPB Director Rohit Chopra emptying the shelves with dozens of new regulations, proposals and enforcement activity, the financial services industry now faces whiplash as the Trump administration takes...more
After weeks of emptying the shelves at the Consumer Financial Protection Bureau (CFPB) with dozens of enforcement actions, new rules, proposed regulations and guidance, President Donald Trump fired CFPB Director Rohit Chopra...more
On Dec. 12, the Consumer Financial Protection Bureau (CFPB) finalized a controversial rulemaking that would fundamentally alter how banks and credit unions offer overdraft services. The proposed rule was issued in January...more
12/19/2024
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Excessive Fees ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Overdraft Fees ,
Overdraft Rule ,
Popular
On Dec. 3, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would treat data brokers as credit reporting agencies, subjecting them to requirements under the Fair Credit Reporting Act (FCRA)....more
As we continue to analyze the strength of former President Trump’s red wave, one thing is clear: a number of federal agencies are poised for a major shift in their rulemaking agendas, priorities, staffing and approach to...more
On Oct. 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule on Personal Financial Data Rights, which changes the way financial institutions hold and distribute customer-generated data. The rule, once...more
On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would introduce sweeping changes to the process of medical debt credit reporting and the use of information related to the nonpayment of...more
On June 3, the Consumer Financial Protection Bureau (CFPB) published a final rule to create a registry of nonbank companies that have entered into consent agreements or who have otherwise been found by the bureau to be in...more
On May 30, the Consumer Financial Protection Bureau (CFPB) released a Request for Information (RFI) regarding mortgage closing costs. The seven-page RFI provided nine questions about the impact of closing costs, and how they...more
In a move that aligns with conservative arguments that the Consumer Financial Protection Bureau (CFPB) has become a political arm of the White House, the agency finalized its controversial credit card late fee rule just two...more
House Financial Services Committee Chair Patrick McHenry’s (R-NC) announcement to retire at the end of the 118th Congress on Dec. 5 sent shockwaves throughout the financial services space, setting up a potentially...more
On Sept. 21, 2023, the Consumer Financial Protection Bureau (CFPB) officially announced it is considering a rulemaking to address several consumer reporting topics under the Fair Credit Reporting Act (FCRA). Under the process...more
11/10/2023
/ Banking Sector ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Bureaus ,
Credit Reporting Agencies ,
Credit Reports ,
Data Privacy ,
Data Security ,
Debt Collection ,
Debt Collectors ,
Financial Institutions ,
Financial Services Industry
On Oct. 19, 2023, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data Rights, which would change the way financial institutions hold and distribute...more
On Oct. 11, 2023, the White House released a fact sheet describing new and forthcoming actions taken by the Biden administration that continue its focus on so-called “junk fees.” The announcement highlighted efforts between...more
On April 26, the House Financial Services Committee held a markup of 15 bills, including H.R. 2798, the CFPB Transparency and Accountability Reform Act, sponsored by Rep. Andy Barr (R-KY). The bill includes provisions from...more
This week the U.S. Department of Housing and Urban Development (HUD) announced plans for additional steps it plans to take related to criminal history screening. This comes on the heels of the Consumer Financial Protection...more
Trade associations, the U.S. Small Business Administration (SBA) Office of Advocacy and Congress criticized Consumer Financial Protection Bureau (CFPB) overreach during the comment period for two proposals regarding public...more