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Reporting Requirements Final Rules Consumer Financial Protection Bureau (CFPB)

Husch Blackwell LLP

CFPB Floats Rescission of NBR Rule

Husch Blackwell LLP on

The Consumer Financial Protection Bureau (CFPB) continues to redefine its priorities, and among the many policies targeted for change, the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders”...more

GeoDataVision

2025 Section 1071 Interim Final Rule: What It Says. Who is Affected. Problems Created. What Lenders Should Do

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On June 18, 2025, the CFPB published its 2025 Section 1071 Interim Final Rule. Lenders covered by the 2024 Section 1071 Interim Final Rule should know what the 2025 Rule is changing, how it affects them and what they can and...more

Cooley LLP

CFPB Issues Interim Final Rule Extending Small Business Lending Rule Compliance Deadlines

Cooley LLP on

The Consumer Financial Protection Bureau (CFPB) recently issued an interim final rule (2025 interim final rule) delaying compliance deadlines for a second time for its small business lending data collection rule, which...more

Ballard Spahr LLP

CFPB Extends Section 1071 Rule Compliance Dates

Ballard Spahr LLP on

As previously reported, in addressing the fact that current stays of the section 1071 small business data collection and reporting rule only apply to the applicable plaintiffs, intervenors and their members, the CFPB advised...more

Troutman Pepper Locke

CFPB Extends Compliance Dates for Section 1071 Rule Again Amid Ongoing Litigation

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) published in the Federal Register an interim final rule extending compliance dates for its 2023 small business lending rule under the Equal Credit Opportunity Act...more

Orrick, Herrington & Sutcliffe LLP

CFPB to rescind state requirement to notify Bureau on CFPA enforcement

On May 21, the CFPB published a notice in the Federal Register withdrawing its procedures that required state officials to notify the Bureau when taking action to enforce the CFPA. The direct final rule, effective July 21,...more

Troutman Pepper Locke

CFPB Proposes Rescission of Nonbank Registration Rule

Troutman Pepper Locke on

Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) released a proposed rule to rescind its previous regulation requiring nonbank entities to report certain agency and court orders to a Bureau registry....more

Ballard Spahr LLP

CFPB won’t make small business reporting rule a priority

Ballard Spahr LLP on

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

Sheppard Mullin Richter & Hampton LLP

CFPB Halts Enforcement of Small Business Lending Rule for Institutions Outside Fifth Circuit

On April 30, the CFPB announced it will deprioritize enforcement and supervision of its small business lending data collection rule for institutions not covered by the stay issued by the U.S. Court of Appeals for the Fifth...more

Ballard Spahr LLP

CFPB to Reopen Rulemaking on the Section 1071 Small Business Loan Data Collection and Reporting Rule

Ballard Spahr LLP on

As we have reported previously, including here, here, and here, the CFPB’s section 1071 small business loan data collection and reporting rule is facing court challenges.  The U.S. Court of Appeals for the Fifth Circuit has...more

Orrick, Herrington & Sutcliffe LLP

Trade group asks district court to stay CFPB’s Section 1071 rule and toll compliance deadlines

On March 13, a trade group in commercial finance filed an unopposed motion in the U.S. District Court for the Southern District of Florida to stay the CFPB’s Section 1071 rule. The final rule would amend the ECOA to mandate...more

Sheppard Mullin Richter & Hampton LLP

DFPI Finalizes Debt Collection Licensing Regulations, Effective July 1

On March 4, the California DFPI finalized regulations under the Debt Collection Licensing Act (DCLA). The final regulations, which take effect July 1, 2025, clarify key licensing and reporting requirements....more

Orrick, Herrington & Sutcliffe LLP

Court stays a medical debt credit reporting case against CFPB

On February 13, the U.S. District Court for the Southern District of Texas stayed a lawsuit against the CFPB regarding the CFPB’s medical debt reporting final rule. The final rule, which the CFPB finalized in early January,...more

Sheppard Mullin Richter & Hampton LLP

Texas Federal Court Pauses CFPB Rule Banning Medical Debt from Credit Reports

On February 6, a judge for the United District Court for the Eastern District of Texas issued a 90-day stay on the CFPB’s final rule prohibiting the inclusion of medical debt in consumer credit reports, delaying the rule’s...more

Troutman Pepper Locke

Compliance Deadlines for the 1071 Rule are Tolled — But for an Unspecified Period of Time — Amid Legislative Efforts to Repeal the...

Troutman Pepper Locke on

On Friday, the U.S. Court of Appeals for the Fifth Circuit ordered the tolling of compliance deadlines for the Consumer Financial Protection Bureau’s (CFPB or Bureau) Small Business Lending Data Collection final rule under...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Auto

Hudson Cook, LLP on

In this article, we share a timeline of our monthly "bites" for 2024 applicable to the auto finance industry....more

Morrison & Foerster LLP

Open Banking Update: CFPB Recognizes First Open Banking Standard-Setting Body

On January 8, 2025, the Consumer Financial Protection Bureau (CFPB) issued a decision and order approving the application of Financial Data Exchange, Inc. (FDX) for recognition as a standard-setting body (SSB) under the...more

Orrick, Herrington & Sutcliffe LLP

CFPB updates supervision and enforcement procedures

On November 29, the CFPB published a final rule in the Federal Register to make “ministerial updates” to its supervision and enforcement procedures, effective upon publication, to reflect recent organizational changes within...more

Fenwick & West LLP

Consumer Financial Protection Bureau (CFPB) Final Rule Expands Oversight to Larger Digital Payment App Providers

Fenwick & West LLP on

Section 1024 of the Dodd-Frank Act of 2010 authorizes the Consumer Financial Protection Bureau (CFPB) to define markets for consumer financial products and services and supervise the larger participants within those markets...more

Ballard Spahr LLP

Texas Judge Rules CFPB Did Not Exceed Authority in Issuing Small Business Reporting Rule

Ballard Spahr LLP on

In a tentative win for the CFPB, a federal judge in Texas ruled on August 26, 2024, that the agency did not exceed its authority when it issued its final Section 1071 small business lending rule. The court also rejected...more

Troutman Pepper Locke

Highlights from the CFPB’s Spring 2024 Semi-Annual Regulatory Agenda

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) recently released its semi-annual regulatory agenda, outlining its planned rulemaking initiatives. The CFPB releases regulatory agendas twice a year in voluntary...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Troutman Pepper Locke

CFPB Issues Interim Final Rule Memorializing Updated Compliance Dates for Section 1071 Final Rule

Troutman Pepper Locke on

As discussed here, following the U.S. Supreme Court’s decision in Community Financial Services Association of America, Limited v. Consumer Financial Protection Bureau (CFPB or Bureau), which upheld the CFPB’s funding...more

Alston & Bird

CFPB Expands its Reach with Final Rule Establishing Nonbank Registry of Public Settlements, Consent Orders and Enforcement Actions

Alston & Bird on

What Happened? On June 3, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders Final Rule (the Final Rule), a 486-page rule...more

Shipkevich PLLC

CFPB to Begin Tracking Offenders through National Registry

Shipkevich PLLC on

The CFPB has issued a final rule to provide transparency and track certain covered nonbank offenders. On June 3, 2024, the CFPB introduced a significant regulatory measure known as the Registry of Nonbank Covered Persons...more

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