News & Analysis as of

Statutory Interpretation Financial Institutions Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

District court urged to uphold the CFPB’s open banking rule

On June 29, an intervenor-defendant, a fintech association, filed a motion for summary judgment urging the U.S. District Court for the Eastern District of Kentucky to uphold the CFPB’s Section 1033 rule. The fintech...more

Perkins Coie

The Slow Death of the CFPB Open Banking Rule?

Perkins Coie on

On May 30, 2025, the Consumer Financial Protection Bureau (CFPB) stated in a court filing that its “Open Banking Rule” (Rule) issued during the Biden administration “is unlawful and should be set aside.” This shift is part of...more

Bradley Arant Boult Cummings LLP

CFPB's Guidance Withdrawal Deepens Industry Uncertainty

Effective May 12, the Consumer Financial Protection Bureau formally revoked 67 different guidance documents by publishing a notice in the Federal Register. The CFPB's action covers various guidance documents, interpretive...more

Ballard Spahr LLP

CFPB states the Section 1033 Open Banking rule exceeds its authority

Ballard Spahr LLP on

In its motion for a summary judgment in a lawsuit challenging the regulation, the CFPB stated it has concluded that the Section 1033 Rule (Rule) exceeds the agency’s statutory authority to create an open banking system...more

Bradley Arant Boult Cummings LLP

Takeaways from the CFPB’s Withdrawal of Guidance

Effective May 12, 2025, the Consumer Financial Protection Bureau (CFPB) formally revoked 67 different guidance documents by publishing a notice in the Federal Register. The CFPB’s action covers various guidance documents,...more

Troutman Pepper Locke

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

Troutman Pepper Locke on

The Consumer Financial Protection Bureau (CFPB or Bureau) announced the withdrawal of 67 regulatory guidance documents, including interpretive rules, policy statements, and advisory opinions that have been issued since the...more

Morrison & Foerster LLP

CFPB Reverses Course, Withdrawing “Unprecedented” EFTA Interpretation

Following a brief pause under new leadership, the Consumer Financial Protection Bureau (CFPB) has resumed activities, albeit significantly in retreat from the positions taken by the prior administration. In a case involving...more

Orrick, Herrington & Sutcliffe LLP

Bank responds to CFPB’s amended complaint and alleges improper delay tactics

On March 17, a bank again asked the U.S. District Court for the Northern District of Texas to dismiss the CFPB’s suit against the bank. As previously covered by InfoBytes, the Bureau filed an amended complaint after the...more

Ballard Spahr LLP

The Supreme Court’s Overruling of Chevron is a Sea Change

Ballard Spahr LLP on

We already have published a short blog about the Supreme Court’s opinion issued on Friday, July 28 in Loper Bright Enterprises et al v. Raimondo, Secretary of Commerce, et al, No. 22-451....more

Ballard Spahr LLP

SCOTUS agrees to hear second case challenging Chevron deference

Ballard Spahr LLP on

Last Friday, the U.S. Supreme Court agreed to hear a second case, Relentless, Inc. v. U.S. Department of Commerce, in which the question presented is whether the Court should overrule its 1984 decision in Chevron, U.S.A.,...more

Morgan Lewis

Will Regulatory Rollback in the Nation’s Capital Work?

Morgan Lewis on

At a meeting with a group of state attorneys general in Washington, DC, earlier this week, Consumer Financial Protection Bureau (CFPB or Bureau) Director Kathy Kraninger expressed her strong desire to provide more consistent...more

11 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide