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Ballard Spahr LLP

Jonathan Gould confirmed as Comptroller of the Currency

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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

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

Seyfarth Shaw LLP

In the Hot Seat: Andrea Lucas Defends Record at Senate Hearing

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The Acting Chair of the EEOC has been renominated to serve another term as commissioner, and testified at her confirmation hearing on June 18, 2025. Confirmation is required for her to continue as Acting Chair. Ms. Lucas’...more

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

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Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Ballard Spahr LLP

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

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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

Troutman Amin LLP

COMMISSION GUTTED?: Rumors and Withdrawals Suggest FCC May Soon Be Unable To Act

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So it is being reported by Communications Daily that FCC Republican Commissioner Nathan Simington is expected to either leave the agency or announce his imminent departure this week. ...more

Carlton Fields

Everything (Including Inconsistent Things) All at Once: The Trump Administration’s Initial Steps Toward Permitting Reform

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President Trump came into office pledging to speed up federal environmental permitting, and he has issued a series of executive orders that touch on some aspect of expediting environmental reviews....more

Ballard Spahr LLP

DOJ lawyers, National Treasury Employees Union attorney square off in appeals court over CFPB firings

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Despite massive attempted layoffs and cancellation of third-party vendor contracts, the Trump Administration did not and does not intend to shut down the CFPB, a Justice Department attorney told a federal appeals court on...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Nominee to Move to Treasury Finance Role

On May 9, the U.S. Department of the Treasury announced that President Trump intends to nominate Jonathan McKernan to serve as the Undersecretary of Domestic Finance. McKernan had been awaiting Senate confirmation to lead the...more

Morrison & Foerster LLP

President Trump to CPSC Democrats: "You're Fired"

In a dramatic shake-up at the Consumer Product Safety Committee (CPSC), President Trump has ousted three of its five commissioners, leaving the agency with distinctly Republican leadership. Commissioners Richard Trumka, Mary...more

Ballard Spahr LLP

Trump to nominate CFPB nominee to Treasury Department position

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Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury....more

Orrick, Herrington & Sutcliffe LLP

Democrats write to OIG on NCUA board member removals

On April 29, Sen. Elizabeth Warren (D-MA) and Rep. Maxine Waters (D-CA) sent a letter to the Inspector General of the NCUA to request an investigation into the agency’s ability to operate with a single board member. The...more

Ballard Spahr LLP

House Financial Services Committee finds savings by slashing CFPB budget

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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

Ballard Spahr LLP

Ousted Democratic NCUA board members file suit

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The two Democratic NCUA board members ousted by President Trump have filed suit, arguing that their firings violated federal law....more

Ballard Spahr LLP

GAO agrees to investigate attempted CFPB firings, other recent bureau actions

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The Government Accountability Office has agreed to investigate recent CFPB moves to fire more than 1,400 employees and the impact it and other agency actions have had on the bureau’s ability to operate....more

Venable LLP

Venable FDA Pulse: FDA at the 100-Day Mark of Trump Administration 2.0

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Since returning to office for a second term, President Trump has taken steps to reshape federal agencies. Here, we discuss the significant changes that have occurred at the Food and Drug Administration (FDA or Agency) during...more

Ballard Spahr LLP

Trump Administration appeals ruling that blocked CFPB firings

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The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025....more

Ballard Spahr LLP

DC Circuit so far largely upholds Judge Jackson’s order preliminarily enjoining the CFPB Acting Director from shutting down the...

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On Friday, April 11, a panel of the D.C. Circuit Court of Appeals modified Judge Jackson’s preliminary injunction order of March 28 pending appeal, as follows...more

Ballard Spahr LLP

A deep dive into Judge Jackson’s preliminary injunction order against CFPB Acting Director Vought

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On Friday, March 28, Judge Amy Berman Jackson issued a 112-page opinion and 3-page order in National Treasury Employees Union, et al. v. Russell Vought, in his official capacity as Acting Director of the Consumer Financial...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

Carlton Fields

DNC Files First Challenge to Executive Order Seizing Power From Independent Regulatory Agencies, but With a Twist That May Limit...

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We recently covered executive order 14215, titled “Ensuring Accountability for All Agencies,” the second Trump administration’s most straightforward attack on the discretion of what it called “so-called independent regulatory...more

Ballard Spahr LLP

Banking Committee sends nomination of Jonathan McKernan as CFPB Director to full Senate

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The Senate Banking Committee on March 6 approved the nomination of Jonathan McKernan to be Director of the Consumer Financial Protection Bureau. ...more

Carlton Fields

Executive Order Making “So-Called Independent Agencies” Directly Responsive to the President Is Another Nail in the Coffin of the...

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On February 18, 2025, the Trump administration issued its most straightforward attack on the discretion of what it described as “so-called independent agencies.” Executive order 14215, titled “Ensuring Accountability for All...more

Ballard Spahr LLP

Federal Judge Issues Order Prohibiting Massive Layoffs, Budget Cuts at CFPB Pending Ruling on Motion for Preliminary Injunction

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A federal judge has issued an order temporarily prohibiting the Trump Administration from imposing mass layoffs and budget cuts at the CFPB....more

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