News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Federal Reserve Proposed Legislation

Orrick, Herrington & Sutcliffe LLP

Congress reduces CFPB’s budget request cap following passage of reconciliation bill

On July 3, the House of Representatives passed H.R.1, the “One Big Beautiful Bill Act” to reduce the cap on amounts the CFPB can request from the Fed to fund its operations from 12 percent to 6.5 percent of the Fed’s total...more

Ballard Spahr LLP

Senate Republicans get Parliamentarian’s approval to slash CFPB funding in massive budget bill

Ballard Spahr LLP on

Senate Banking, Housing and Urban Affairs (Banking Committee) Republicans have received the Senate Parliamentarian’s approval to cut the CFPB’s funding. As a result, in the large budget reconciliation bill now being written...more

Goodwin

Senate Banking Committee Proposes Bill That Would Eliminate CFPB Federal Reserve Funding

Goodwin on

In June 2025, the Senate Banking Committee introduced a version of the “One Big, Beautiful Bill” that would eliminate the CFPB’s Federal Reserve funding. The CFPB can currently receive funds of up to 12% of the Federal...more

Orrick, Herrington & Sutcliffe LLP

Senate Banking Committee proposes to reduce CFPB’s funding to zero

On June 6, the Senate Banking, Housing, and Urban Affairs Committee released its proposed amendment to H.R. 1, the “One Big Beautiful Bill Act,” which included a proposed reduction in the amount of funds the CFPB can annually...more

Orrick, Herrington & Sutcliffe LLP

Senators urge Senate Banking Committee to amend CFPB funding

On June 9, Sen. Elizabeth Warren (D-MA) and other Democratic senators sent a letter to Sen. Tim Scott, Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, insisting the Committee to hold a markup on...more

Ballard Spahr LLP

Senate Banking Republican reconciliation bill would eliminate CFPB funding source

Ballard Spahr LLP on

The Senate Banking, Housing and Affairs Committee (Banking Committee) would eliminate the CFPB’s current funding source, as part of Committee’s Republican version of its part of the massive budget reconciliation bill,...more

Holland & Knight LLP

U.S. House of Representatives Approves 70 Percent Cut to CFPB Funding

Holland & Knight LLP on

The U.S. House of Representatives has passed an extensive budget reconciliation bill that would reduce the CFPB budget by 70 percent. In a 215-214 vote along party lines, the budget cut first approved by the House Committee...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Goodwin

Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB

Goodwin on

Regulatory Developments - Federal Reserve Announces Results From the Review of the Supervision and Regulation of SVB - On April 28, the Federal Reserve released its report analyzing SVB’s failure (Report). The Report...more

ArentFox Schiff

Federal Law to the Rescue?

ArentFox Schiff on

Snidely Whiplash kidnaps Nell and, in the show’s opening, ties her to the railroad tracks to get even with his nemesis, Dudley Do-Right, of the famed Royal Canadian Mounted Police. Menacing music plays. In each episode,...more

Bradley Arant Boult Cummings LLP

Senator Shelby Moves Forward with Major Dodd-Frank Reforms

On May 12, 2015, U.S. Senator Richard Shelby (R-Ala.), Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs, released the text of draft legislation intended to reform the regulatory framework...more

Ballard Spahr LLP

House members propose bill to nullify CFPB indirect auto finance guidance

Ballard Spahr LLP on

A bipartisan group of fourteen House members have introduced a bill (H.R. 5403) that would nullify the CFPB’s indirect auto finance guidance issued in March 2013 and require the CFPB to provide for a notice and comment period...more

Mintz - Public Finance Viewpoints

Financial Services Legislative and Regulatory Update -- August 5, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Except from Leading the Past Week - Congress usually tries to leave town for its month-long August...more

Mintz - Public Finance Viewpoints

Financial Services Legislative and Regulatory Update -- June 24‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Despite some concerns about the slowing growth in China, some...more

Mintz - Public Finance Viewpoints

Financial Services Legislative and Regulatory Update -- April 29‚ 2013

In This Issue: Leading the Past Week; Legislative Branch; and Executive Branch. Excerpt from Leading the Past Week - The past week could be best described by one word. Chaos. In the House, a scheduled...more

Mintz - Public Finance Viewpoints

Financial Services Legislative and Regulatory Update -- April 15, 2013

In This Issue: Leading the Past Week; Budget Summary; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Congress returned from a two-week recess and the...more

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