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Jenner & Block

Trump Administration Significantly Narrows the Impact of the Consumer Financial Protection Bureau

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The Consumer Financial Protection Bureau (CFPB) is a federal agency that was founded in 2010, after the United States went through a recession linked to abuses in the origination and sale of residential mortgage loans. The...more

Ballard Spahr LLP

Jonathan Gould confirmed as Comptroller of the Currency

Ballard Spahr LLP on

The Senate has confirmed Jonathan Gould as Comptroller of the Currency. Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat...more

Troutman Pepper Locke

Driving Digital Security: The FTC's Safeguards Rule Explained — Moving the Metal: The Auto Finance Podcast

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In this episode of Moving the Metal: The Auto Finance Podcast, hosts Brooke Conkle and Chris Capurso are joined by colleagues Kim Phan and Aileen Ng for a deep dive into the Federal Trade Commission's (FTC) Safeguards Rule...more

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

Federal Reserve Disbands Climate-Focused Internal Groups

Mintz on

It has been reported that the Federal Reserve has disbanded certain internal groups that were intended to develop “institutional capacity and knowledge” with respect to climate risk. Specifically, among the groups that have...more

Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

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The CFPB is planning to repeal its Section 1033 Open Banking Rule, according to a filing in a federal lawsuit challenging the rule. On the same day the Final Rule was issued, the Banking Policy Institute (BPI) and Kentucky...more

Latham & Watkins LLP

OCC Bank Merger Rule Rescinded in Latest Regulatory Reversal

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The OCC is restoring its former practices and policies under the Bank Merger Act to reinstate expedited merger reviews and streamlined business combination applications....more

Sheppard Mullin Richter & Hampton LLP

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

On May 9, President Trump signed a Congressional Review Act resolution repealing the CFPB’s final rule restricting overdraft fees at large financial institutions. The rule, originally finalized under the Biden administration,...more

Holland & Knight LLP

CFPB Overdraft and Digital Payment Rules Repealed by Trump Administration

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President Donald Trump on May 9, 2025, signed into law measures to eliminate two CFPB rules established under the Biden Administration. The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more

Ballard Spahr LLP

Trump signs resolution nullifying CFPB overdraft rule

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President Trump has signed a Congressional Review Act (CRA) resolution nullifying the CFPB’s controversial overdraft rule. ...more

Troutman Pepper Locke

California Introduces Legislation to Fill the Void of Federal Consumer Protection Regulations

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As federal agencies pull back on consumer protection regulations under the Trump administration, California is stepping up to fill the void. This shift was forecasted in January, when the Consumer Financial Protection Bureau...more

Morrison & Foerster LLP

FinReg Currents - Week 11

On April 1, 2025, the House Financial Services Committee issued a press release regarding a number of Committee requests to various federal agencies for rescission, modification, or re-proposal of specific Biden...more

Ballard Spahr LLP

House Subcommittee Chairman pushes legislation to convert CFPB into a commission, make it subject to appropriations

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House Financial Institutions Subcommittee Chairman Rep. Andy Barr, R-Ky., said last week that his subcommittee will place a high priority on changing the CFPB’s structure and funding....more

Troutman Pepper Locke

CFPB and Townstone Financial Move to Vacate Redlining Settlement Alleging Misconduct Under Former CFPB Director

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In a surprising turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) and Townstone Financial, Inc. (Townstone) have jointly moved to vacate the Stipulated Final Judgment and Order previously entered in...more

WilmerHale

2024 CFTC Year in Review: An Overview of a Transitional Year

WilmerHale on

Coming off a busy 2024, we expect that 2025 will be a landmark year for the Commodity Futures Trading Commission (CFTC or Commission). Rostin Behnam’s resignation as Chairman on January 20 marked the end of the Biden...more

Ballard Spahr LLP

House Republicans may start Congressional Review Act process to nullify overdraft rule

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House Republicans appear ready to start the Congressional Review Act (CRA) process to attempt to repeal the Biden Administration’s controversial overdraft rule....more

Holland & Knight LLP

New Frontiers: CFPB Proposes Extending Consumer Protections to Other Digital Payment Mechanisms

Holland & Knight LLP on

In the waning days of the Biden Administration, the Consumer Financial Protection Bureau (CFPB) on Jan. 10, 2025, issued a proposed interpretive rule that would provide a framework for determining when the Electronic Fund...more

Ballard Spahr LLP

American Bankers Association, state affiliates ask Trump to halt regulatory actions pending a review

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In a letter to President-Elect Donald Trump, the American Bankers Association and its 52 affiliates are calling for a halt to all regulatory actions affecting banks and an extension of all effective dates for final...more

Latham & Watkins LLP

The Tides Are Changing (Again) for US “Fair Access” and “Anti-Debanking” Laws

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“Fair access” banking laws, at the epicenter of the debates between ESG and “anti-woke” regulation and federal/state preemption, may see a resurgence under the incoming administration. In recent years, the landscape of...more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Post-Election Considerations for Inaugurations, Transitions, Special Elections and Personnel Entering or Leaving Government

Now that the 2024 election has passed, individuals and organizations must be mindful of special legal issues that arise from contributions made to, and expenses incurred for, federal, state or local inaugural or transition...more

Latham & Watkins LLP

White House Recommends Stricter Regulations for Large Regional Banks

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President Biden is calling for tougher standards and supervision for large regional banks in the wake of recent instability in the US banking sector. On March 30, 2023, the White House issued a Fact Sheet calling on the...more

American Conference Institute (ACI)

[Virtual Conference] Ensuring Compliance with U.S. and China Economic Sanctions - September 21st, 11:00 am - 5:00 pm EDT

ACI’s premier conference “Ensuring Compliance with U.S. and China Economic Sanctions” will take place on September 2021 (EDT) in a virtual format. On November 12, 2020, President Trump signed Executive Order 13959...more

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