News & Analysis as of

Removal For-Cause Regulatory Oversight

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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

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CBA urges House leadership to enact legislation to change CFPB leadership structure to bipartisan commission

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The Consumer Bankers Association has sent a letter to the leadership of the House of Representatives urging the House to enact legislation that replaces the CFPB’s single director leadership structure with a five-person,...more

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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

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Trade associations voice support for commission to run CFPB

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A group of 22 trade associations sent a letter last week to the Chairmen and Ranking Members of the Senate and House Appropriations Committees expressing their “strong support” for the creation of a five-member bipartisan...more

Polsinelli

Banking and Financial Institutions Newsletter

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President Trump Issues Executive Order Instructing Review of Financial Regulations - President Donald Trump on February 3rd issued an Executive Order (EO) detailing his Administration’s core principles for financial...more

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House Financial Services Committee Chairman Hensarling Proposes Changes to the CHOICE Act.

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On Monday, Chairman Hensarling circulated a memorandum to the House Financial Service Committee Leadership Team suggesting key revisions to the CHOICE Act. It only addresses proposed changes to the CHOICE Act; several key...more

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Trump Administration issues regulatory freeze; application to CFPB uncertain

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On Inauguration Day, Reince Priebus, Assistant to the President and Chief of Staff, issued a “Memorandum for the Heads of Executive Departments and Agencies” with the subject line “Regulatory Freeze Pending Review” that...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - CTFC Approves Proposed Rules Addressing Application of Certain CEA Regulations to Cross-Border Transactions - On October 11, 2016, the U.S. Commodity Futures Trading Commission...more

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