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Proposed Legislation › Federal Budget › Financial Regulatory Reform

Moore & Van Allen PLLC

H.R.1 - One Big Beautiful Bill Act

Moore & Van Allen PLLC on

In Brief - - The Senate passed H.R. 1, as amended, 51-50 on July 1, 2025 (legislative day began on June 30, 2025). Vice President JD Vance broke the tie by voting for the measure and presiding over the closing of the vote....more

Orrick, Herrington & Sutcliffe LLP

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

Orrick, Herrington & Sutcliffe LLP on

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

Cooley LLP

PCAOB May Survive Just Yet…

Cooley LLP on

Last month, I blogged that the PCAOB may be absorbed by the SEC under the budget reconciliation bill that is making its way towards the finish line. In that blog, I indicated that the only thing that might stop the merger of...more

Holland & Knight LLP

CFPB Budget Cuts Blocked by Senate Parliamentarian

Holland & Knight LLP on

Senate Parliamentarian Elizabeth MacDonough ruled that the Trump Administration and congressional Republicans cannot use the pending budget reconciliation bill to eliminate funding to the CFPB in a June 23, 2025,...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

Troutman Pepper Locke

The Big Beautiful Bill and the Effects on Bank Lending Into the US

Troutman Pepper Locke on

Every year, foreign lenders make thousands of loans to U.S. entities. The U.S. withholding tax on the related interest payments has been generally stable since 1984. The general rule is that interest paid under these loans...more

Ballard Spahr LLP

Budget bill would cut CFPB funding

Ballard Spahr LLP on

The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending....more

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