As part of ongoing efforts from the Trump administration to streamline regulatory efforts, the Consumer Financial Protection Bureau (CFPB) is proposing changes to Larger Market Participant thresholds, many of which currently...more
8/11/2025
/ Automotive Industry ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Non-Bank Lenders ,
Payment Systems ,
Popular ,
Proposed Rules ,
Regulatory Oversight ,
Regulatory Reform ,
Supervision
Over the weekend the Senate by voice vote passed H.R. 2808, the House version of the Homebuyers Privacy Protection Act, sending the bill to President Trump for signature. The bill is led by Reps. John Rose (R-TN) and Ritchie...more
In a July 8 social media post, Federal Housing Finance Agency (FHFA) Director Bill Pulte stated that Fannie Mae and Freddie Mac (the Enterprises) will maintain the long-standing tri-merge requirement requiring lenders to pull...more
In two cases challenging regulatory actions by the Biden-era Consumer Financial Protection Bureau (CFPB), Brownstein secured major wins for the collections industry. First, in litigation filed in Texas, Brownstein represented...more
On June 26, 2025, Brownstein filed a Petition for a Writ of Certiorari to the United States Supreme Court, seeking review of a Ninth Circuit Court of Appeals decision regarding the Fair Debt Collection Practices Act (FDCPA)....more
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 April 18, 2025, Colorado enacted the Model Money Transmission Modernization Act (MTMA) (HB 25-1201), which repeals and replaces the state’s previous Money Transmitters Act. The law updates standards for the licensing,...more
Over the past several weeks, litigation and government relations efforts have resulted in the accounts receivables management (“ARM”) industry achieving regulatory clarity, which will allow the industry to better serve...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. 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
Republicans will soon find themselves in in control of the entire federal government—the White House, the Senate and the House of Representatives—for the first time since 2018. This new power dynamic in Washington has already...more
The Federal Trade Commission (FTC) is one of the independent agencies expected to undergo considerable changes in rulemaking priorities once President-elect Trump enters office. Chairwoman Lina Khan is expected to step down...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 Sept. 17, 2024, the Federal Deposit Insurance Corporation (FDIC) Board met to finalize an updated approach to increase scrutiny of bank mergers, particularly those that would result in a bank with over $100 billion in...more
9/26/2024
/ Banking Sector ,
Banks ,
Biden Administration ,
Department of Justice (DOJ) ,
Executive Orders ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Merger Reviews ,
Mergers ,
OCC
On Sept. 17, the Consumer Financial Protection Bureau (CFPB) published guidance for federal and state consumer protection enforcement officials to use to prevent banks and credit unions from charging overdraft fees in certain...more
In a series of rulings at the end of its term, the Supreme Court fundamentally changed administrative law precedents, including some that have held firm for more than 40 years. The decisions will curtail federal agencies’...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 landmark decision issued on May 16, the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is constitutionally sound, as it does not violate the Appropriations Clause. The...more
For the first time in its history, the Consumer Financial Protection Bureau recently invoked supervisory authority over a nonbank lender, World Acceptance Corp., one of the largest small-dollar installment lenders in the...more
Thanks to the Corporate Transparency Act, starting Jan. 1, 2024, all companies created in the United States must complete a new form with the Treasury Department’s Financial Crimes Enforcement Network, commonly known as...more
The Federal Communications Commission (“FCC”) has adopted an order that will restructure the way lead generators collect consumer consent to receive robocalls or robotexts from sellers. Many businesses, particularly small...more