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Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

Ballard Spahr LLP on

The CFPB is planning to repeal its Section 1033 Open Banking Rule, according to a filing in a federal lawsuit challenging the rule. On the same day the Final Rule was issued, the Banking Policy Institute (BPI) and Kentucky...more

Orrick, Herrington & Sutcliffe LLP

CFPB’s repeal of two final rules leads to dismissal of two cases

Recently, federal district courts dismissed two cases which challenged two final rules promulgated by the CFPB under the previous administration. Specifically, these dismissals came soon after President Trump repealed the...more

Orrick, Herrington & Sutcliffe LLP

President Trump repeals two CFPB rules

On May 9, President Donald Trump repealed two CFPB rules which were brought under the previous administration. The first action repealed the CFPB’s overdraft lending rule (S. J. Res. 18), which would have capped overdraft...more

Sheppard Mullin Richter & Hampton LLP

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

On May 9, President Trump signed a Congressional Review Act resolution repealing the CFPB’s final rule restricting overdraft fees at large financial institutions. The rule, originally finalized under the Biden administration,...more

Holland & Knight LLP

CFPB Overdraft and Digital Payment Rules Repealed by Trump Administration

Holland & Knight LLP on

President Donald Trump on May 9, 2025, signed into law measures to eliminate two CFPB rules established under the Biden Administration. The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more

Cozen O'Connor

Cozen Currents: The Shifting State(s) of Regulation

Cozen O'Connor on

“Republicans’ deregulatory agenda in Washington is already having ripple effects at the state level, in both red and blue ones alike, giving states a lane to step up and become de facto national regulators.”...more

Brownstein Hyatt Farber Schreck

CFPB Changes Approach to Guidance

On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced a sweeping withdrawal of 67 guidance documents issued since the CFPB’s inception, signaling a marked shift in its regulatory approach. This move...more

Troutman Pepper Locke

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

Troutman Pepper Locke on

On May 9, the U.S. Senate Committee on Banking, Housing, and Urban Affairs announced that President Trump signed into law Chairman Tim Scott’s (R-SC) Congressional Review Act (CRA) resolution, effectively overturning the...more

Ballard Spahr LLP

Trump signs resolution nullifying CFPB overdraft rule

Ballard Spahr LLP on

President Trump has signed a Congressional Review Act (CRA) resolution nullifying the CFPB’s controversial overdraft rule. ...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

Frost Brown Todd

Trump’s New Executive Order Targeting Disparate Impact Liability May Target Fair Lending as Well

Frost Brown Todd on

On April 23, 2025, President Trump issued an executive order (EO) titled “Restoring Equality of Opportunity and Meritocracy,” which seeks to eliminate disparate impact liability, denouncing it as a threat to equal opportunity...more

Troutman Pepper Locke

President Trump Issues Executive Order to Eliminate Disparate Impact Analysis

Troutman Pepper Locke on

President Donald J. Trump issued an executive order titled “Restoring Equality of Opportunity and Meritocracy.” This order aims to eliminate the use of disparate impact liability in all contexts, emphasizing the importance of...more

Holland & Knight LLP

CFPB's Overdraft Rule and Big Tech Payment Apps Rule Set for Repeal After Congressional Votes

Holland & Knight LLP on

Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more

Ballard Spahr LLP

House sends Trump resolution to nullify CFPB overdraft rule

Ballard Spahr LLP on

The resolution to nullify the CFPB’s overdraft rule now is in President Trump’s hands....more

McGlinchey Stafford

Dismantling the CFPB Officially on Hold and Other Bureau Updates

McGlinchey Stafford on

In a lengthy decision that highlighted the CFPB’s very public efforts to dismantle the CFPB from within, the District Court for the District of Columbia granted a motion for preliminary injunction designed to preserve the...more

Goodwin

2024 Year in Review - Overview: 2024 Lessons and 2025 Emerging Trends

Goodwin on

Welcome to the “Overview: 2024 Lessons and 2025 Emerging Trends” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. As Goodwin predicted in our previous year in review, the enforcement and...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2025 # 2

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Ballard Spahr LLP

House Committee adopts resolution to nullify CFPB overdraft rule

Ballard Spahr LLP on

The House Financial Services Committee on March 5 took the first step toward repealing the CFPB’s overdraft rule, adopting a resolution under the Congressional Review Act. ...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2025

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Ballard Spahr LLP

House Republicans may start Congressional Review Act process to nullify overdraft rule

Ballard Spahr LLP on

House Republicans appear ready to start the Congressional Review Act (CRA) process to attempt to repeal the Biden Administration’s controversial overdraft rule....more

Goodwin

What’s Next for Fintechs in 2025? Key Regulatory Developments to Watch

Goodwin on

With the start of the new year comes new regulatory priorities, regulatory challenges, and regulatory opportunities for fintechs. Below, we lay out considerations for 2025 given the change in administration and accompanying...more

Venable LLP

Trump's Second Term: What's Ahead for Eight Key Sectors?

Venable LLP on

During a campaign season that saw an incumbent president bow out of his own re-election bid and assassination attempts against his challenger, substantive policy debates were sometimes obscured by the drama. ...more

Husch Blackwell LLP

The CFPB in 2025: What to Expect Following the Election

Husch Blackwell LLP on

2024 has been an eventful year for the CFPB. As we detailed in June, the CFPB survived its second constitutional challenge at the Supreme Court in CFSA v. CFPB, and “[n]ewly emboldened, the CFPB’s already robust policy agenda...more

Robins Kaplan LLP

Financial Daily Dose 11.13.2019 | Top Story: Buffeted by Changing Consumer Demands, Dean Foods Declares Bankruptcy

Robins Kaplan LLP on

Dean Foods, the largest milk company in the U.S., has filed for bankruptcy protection, a “fresh setback to a U.S. dairy industry struggling against declining U.S. milk consumption and rising competition.”  Industry experts...more

Clark Hill PLC

Window On Washington - Vol. 3, Issue 39

Clark Hill PLC on

Outlook for This Week in the Nation's Capital - Senate Appropriations. The Senate plans to bring up two House minibus appropriations bills this week according to Senate Majority Leader McConnell (R-KY). ...more

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