News & Analysis as of

Administrative Procedure Act Financial Regulatory Reform Trump Administration

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

Mintz

SEC Commissioner Uyeda Suggests the SEC Will Not Rescind the Climate Disclosure Rule

Mintz on

SEC Commissioner Uyeda, one of the Republican appointees to the Securities & Exchange Commission, recently stated (in remarks at the 2025 “SEC Speaks” Conference) that the SEC should not rescind the climate disclosure rule...more

Ballard Spahr LLP

CFPB won’t prioritize BNPL enforcement

Ballard Spahr LLP on

The CFPB will not make enforcement of its Buy Now, Pay Later rule a priority, according to a recent statement....more

Ballard Spahr LLP

Ousted Democratic NCUA board members file suit

Ballard Spahr LLP on

The two Democratic NCUA board members ousted by President Trump have filed suit, arguing that their firings violated federal law....more

Davis Wright Tremaine LLP

Reg Reform Update – Financial Regulations To Be Clarified or Repealed

While tariff policy has captured headlines, four recent regulatory reform policy developments are nevertheless significant for the financial services industry. These developments are tied to increasing presidential control...more

Ballard Spahr LLP

Judge enjoins Trump Administration from Dismantling CFPB

Ballard Spahr LLP on

Contending that the Trump Administration still intends to dismantle the CFPB, a federal judge on Friday issued a temporary injunction prohibiting the administration from firing employees without cause, prohibiting it from...more

Ballard Spahr LLP

CFPB plans to revoke BNPL interpretive rule

Ballard Spahr LLP on

The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA...more

Orrick, Herrington & Sutcliffe LLP

CFPB Pause: Where From Here?

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On February 8, the Consumer Financial Protection...more

Sheppard Mullin Richter & Hampton LLP

City of Baltimore Sues to Block CFPB Defunding

On February 12, the city of Baltimore filed a lawsuit against the Trump administration and CFPB Acting Director Ross Vought, alleging that efforts to defund the agency violate the Administrative Procedure Act. The lawsuit...more

McGlinchey Stafford

CFPB Under Trump: Internal and External Threats Continue to Mount

McGlinchey Stafford on

A new acting director. Freezes on any rulemaking, enforcement, or supervisory activities. Attempts to dismantle the department from within. In the span of a short forty-eight hours, the CFPB has faced possibly the greatest...more

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