News & Analysis as of

Section 1071 Financial Regulatory Reform Rulemaking Process

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

GeoDataVision

Predictions regarding the 2023 CRA Rule and Section 1071 and how to prepare for expected developments

GeoDataVision on

Len & Dean examine how the 2023 CRA rule and Section 1071 could impose unrealistic standards on banks through rigid assessment areas, urging the industry to engage in the rulemaking process and prepare for regulatory changes...more

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