The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more
The House Financial Services Committee has approved its part of the massive budget bill, saving some $1 billion by, among other things, slashing the CFPB’s budget by more than 60%....more
Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more
The House Financial Services Committee’s Financial Institutions Subcommittee will hold a hearing on Wednesday, March 26, to discuss possible changes to the structure and responsibilities of the CFPB....more
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
The House Financial Services Committee on March 5 took the first step toward repealing the CFPB’s overdraft rule, adopting a resolution under the Congressional Review Act. ...more
More than 185 Democrats in the House and Senate are urging Trump Administration officials to restore the enforcement and supervisory powers of the CFPB....more
The current and incoming Republican leaders of the House Financial Services Committee have asked financial regulators, including the CFPB, to stop “finalizing partisan rulemaking” over the next several weeks....more
In this update, we focus on the potential changes in the executive branch and on the congressional committees that have jurisdiction over cryptocurrency. As the transition unfolds, much attention is on who will stay from the...more
In Washington - House Democrats postponed a planned Tuesday to vote on a bill to keep the government funded through 11 Dec. as talks resume with Republicans and the Trump administration....more
Microsoft made a huge gaming move on Monday with its $7.5 billion acquisition of ZeniMax Media, the “parent company of gaming studios like Bethesda,” and maker of titles like “The Elder Scrolls, Fallout, Doom, Quake and...more
In Washington: The House is set to vote on the two high-profile policy issues before leaving town for the two-week July 4 recess, however, neither of the measures is likely to be taken up in the GOP-controlled Senate,...more
Wells Fargo’s latest CEO, Charles Scharf—the bank’s third chief in the past four years—faced a hostile but less pitchfork-and-torch wielding House Financial Services Committee hearing on Tuesday, distancing himself from his...more
-The DOJ has announced charges against four members of China’s military related to the 2017 cyberattack on credit-reporting agency Equifax, the breach that revealed “trade secrets and the personal data of about 145 million...more
On January 31, the University of Utah S.J. Quinney College of Law will hold a program, “Consumer Protection in the Trump Administration,” at which CFPB Director Kathy Kraninger will deliver remarks. The program, which is...more
Below is the Federal Policy team’s weekly preview, posted when Congress is in session....more
The prospect of the U.S. Congress acting on housing reform this year remains unlikely. The House Democrats’ determination to formalize the impeachment inquiry into President Trump’s involvement with Ukraine and begin public...more
Below is the Federal Policy team’s weekly preview, posted when Congress is in session. HEADLINES - • The House will vote on a bipartisan bill to sanction Turkey, and is proceeding with its impeachment inquiry after a...more
Senior negotiators from the U.S. and China will officially resume trade negotiations today, “with higher tariffs looming if [they] fail to break a five-month stalemate.” The U.S.’s moves this week to blacklist 28 Chinese tech...more
HEADLINES - • The House and Senate return from their weeklong July 4 recess, continuing negotiations to raise budget caps and the debt limit....more
Below is the Federal Policy team’s weekly preview, posted when Congress is in session. HEADLINES - • Both chambers of Congress are planning to take up spending bills to address the crisis at the U.S.-Mexico border....more
Below is the Federal Policy team’s weekly preview, posted when Congress is in session. HEADLINES - The House will continue working on appropriations bills, while the Senate continues voting on President Donald Trump’s...more
Below is the Federal Policy team’s weekly preview, published when Congress is in session. HEADLINES • The House plans to vote on a contempt resolution against Attorney General William Barr and former White House Counsel...more
On March 28, 2019, the House Financial Services Committee passed H.R. 1500, the Consumers First Act, by a 34-26 vote. The bill is intended to reverse various actions taken by Mick Mulvaney during his tenure as CFPB Acting...more
House Financial Services Committee Chairwoman Maxine Waters recently introduced the "Consumers First Act," H.R. 1500, a modified version of a bill she introduced in the last session of Congress when Mick Mulvaney was still...more