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Administrative Procedure Act Biden Administration Financial Institutions

Perkins Coie

The Slow Death of the CFPB Open Banking Rule?

Perkins Coie on

On May 30, 2025, the Consumer Financial Protection Bureau (CFPB) stated in a court filing that its “Open Banking Rule” (Rule) issued during the Biden administration “is unlawful and should be set aside.” This shift is part of...more

Holland & Knight LLP

CFPB Seeks to Vacate the Open Banking Rule

Holland & Knight LLP on

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

Ballard Spahr LLP

President Biden Vetoes Congressional Override of CFPB Section 1071 Small Business Lending Rule

Ballard Spahr LLP on

As previously reported, the U.S. House of Representatives, by a vote of 221-202, voted under the Congressional Review Act to override the CFPB’s final Section 1071 small business lending rule (1071 Rule), and the U.S. Senate,...more

Ballard Spahr LLP

House votes to override CFPB small Business lending rule

Ballard Spahr LLP on

Last week, by a vote of 221-202, the House of Representatives voted to approve S.J. 32, the resolution introduced under the Congressional Review Act to override the CFPB’s final Section 1071 small business lending rule (1071...more

King & Spalding

Pumping the Brakes: FinCEN Reopens Comment Period for Controversial Crypto Reporting & Recordkeeping Rules

King & Spalding on

After Widespread Market Opposition in an Expedited First Round of Comments, FinCEN Solicits More Feedback on Rule Seeking to “Close Gaps” in Virtual Currency Anti-Money Laundering Rules On January 14, in a surprise move,...more

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