News & Analysis as of

Proposed Legislation Dodd-Frank Wall Street Reform and Consumer Protection Act

Orrick, Herrington & Sutcliffe LLP

Senate Parliamentarian rejects Senate’s 0 percent proposal on CFPB funding, will review new 6.5 percent plan

On June 19, the U.S. Senate Committee on the Budget issued an update on the Senate Parliamentarian’s ruling that the provision in HR 1, the “One Big Beautiful Bill Act,” to eliminate all funding the CFPB may request would...more

Ballard Spahr LLP

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

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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

Ballard Spahr LLP

Senate Parliamentarian says elimination of CFPB funding cannot be included in budget bill but delay of Section 1071 rule passes...

Ballard Spahr LLP on

The Senate parliamentarian has ruled that a key Senate Banking, Housing and Urban Affairs (Banking Committee) provision that would eliminate all funding for the CFPB cannot be included in the massive budget reconciliation...more

Ballard Spahr LLP

Senate Banking Republican reconciliation bill would eliminate CFPB funding source

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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

Ballard Spahr LLP

CFPB won’t make small business reporting rule a priority

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The CFPB has announced it will not make enforcement of its rule requiring financial institutions to report their lending to women-owned, LGBTQI+-owned and minority-owned small businesses a priority....more

Holland & Knight LLP

House Republicans Seek to Cut 70 Percent of CFPB Funding

Holland & Knight LLP on

The U.S. House Committee on Financial Services on April 30, 2025, voted to approve Republican-backed budget legislation that would eliminate almost all funding to the CFPB. In a 30-22 vote along party lines, the draft...more

Troutman Pepper Locke

New York's Bold Move to Create a Mini CFPB — The Consumer Finance Podcast

Troutman Pepper Locke on

In this episode of The Consumer Finance Podcast, Chris Willis is joined by colleagues Jesse Silverman and James Kim to discuss recent developments in New York's legislative efforts to strengthen its consumer financial...more

Venable LLP

New York’s Consumer Protection Overhaul: A Lawsuit Magnet for Banks, Fintechs, and Other Financial Services Providers

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New York lawmakers—with full support from the attorney general—are pushing a sweeping expansion of consumer protection laws that could turn routine financial transactions into the next big class action battleground and expand...more

Ballard Spahr LLP

Republicans renew efforts to repeal Section 1071

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Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and...more

Akin Gump Strauss Hauer & Feld LLP

Lawmakers Advance AI Provisions in Must-Pass Defense Bill

On December 7, 2024, House and Senate Armed Services committee leaders unveiled legislative text (H.R. 5009) and a joint explanatory statement for the fiscal year (FY) 2025 must-pass defense authorization bill, which contains...more

White & Case LLP

The INDEX Act: A challenge to the voting influence of institutional investors that may yield unintended consequences

White & Case LLP on

The Act's supporters say it would shift voting power from large investment advisers to individual investors, but the reality could be far more complex - The INDEX Act arrives at a moment of increasing resistance to ESG...more

Ballard Spahr LLP

CFPB announces advisory opinion program, updates responsible business conduct bulletin, proposes whistleblower legislation

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At the end of last week, the CFPB announced that it was taking three steps consisting of implementing an advisory opinion program, updating its responsible business conduct bulletin, and proposing an award program for...more

Proskauer - Whistleblower Defense

U.S. Senate Introduces Bill to Extend Dodd-Frank Whistleblower Protections

On September 25, 2019, a bipartisan group of U.S. Senators introduced the Whistleblower Programs Improvement Act (the “Act”), which would extend anti-retaliation protections under the Dodd-Frank Act to internal complaints....more

Ballard Spahr LLP

CFPB issues Spring 2019 semi-annual report; Director Kraninger to appear before House Financial Services Committee on Oct. 16 and...

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CFPB recently issued its Spring 2019 Semi-Annual Report to Congress covering the period October 1, 2018 through March 31, 2019. The report represents the CFPB’s second semi-annual report under Director Kraninger’s...more

Ballard Spahr LLP

Chairwoman Waters introduces bill to reverse Mulvaney actions

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House Financial Services Committee Chairwoman Maxine Waters has introduced the “Consumers First Act” (to be designated H.R. 1500), a modified version of a bill she introduced in the last session of Congress when Mr. Mulvaney...more

Jones Day

The Year in Bankruptcy: 2018

Jones Day on

Rumors of another recession multiplied as the tumultuous second year of the Trump administration came to a close. Highlights of 2018 included a simmering trade war with China; political upheaval after the House of...more

Ballard Spahr LLP

CFPB seeking legislative fix to give it clear MLA examination authority

Ballard Spahr LLP on

The CFPB announced yesterday that it has transmitted a proposal to Congress that would give it clear authority to conduct supervisory examinations for compliance with the Military Lending Act (MLA)....more

Ballard Spahr LLP

Dramatic changes to CFPB proposed by House not part of appropriations bill under consideration by Senate

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According to media reports, the Senate was scheduled to begin debate yesterday afternoon on H.R. 6167, the “Interior, Environment, Financial Services, and General Government Appropriations Act, 2019.”...more

Stinson - Corporate & Securities Law Blog

Jobs Act 3.0

This statement from Congresswoman Maxine Waters (D-CA), Ranking Member of the House Committee on Financial Services, confirms the House continues to work on JOBS Act 3.0. ...more

Poyner Spruill LLP

Finally Some HVCRE Relief

Poyner Spruill LLP on

In addition to making the widely reported, headline-grabbing consumer and institutional Dodd-Frank rollbacks, Senate Bill 2155 (the Act) also provides much needed relief for the Commercial Real Estate industry. Included...more

Goodwin

House Bill Proposes to Set New Framework for CFPB Regulation

Goodwin on

On April 17, 2018, House members Sean Duffy (R-WI) and Ed Perlmutter (D-CO) co-sponsored bi-partisan legislation aimed at providing more certainty to companies subject to the Consumer Financial Protection Bureau’s (CFPB)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Increase in SIFI Threshold Should Spur More Bank M&A Activity

On March 14, 2018, the U.S. Senate approved the Economic Growth, Regulatory Relief and Consumer Protection Act, a bipartisan bill that would repeal or modify certain provisions of the Dodd-Frank Act and eliminate or ease a...more

Stinson - Corporate & Securities Law Blog

Hensarling Pressures Senate to Negotiate Dodd-Frank Reform

On March 14, 2018, the Senate passed the Economic Growth, Regulatory Relief and Consumer Protection Act which has been billed as Dodd-Frank reform. Some refer to it as the “Crapo bill”, which is a reference to its sponsor,...more

Ballard Spahr LLP

Senate passes banking bill providing Dodd-Frank relief

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The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. ...more

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