The CFPB published an interpretive rule on Oct. 28, 2025, clarifying the scope of preemption under the Fair Credit Reporting Act (FCRA) and impact on state laws regarding credit reporting. The interpretive rule replaces a...more
The U.S. Court of Appeals for the District of Columbia Circuit on Oct. 17, 2025, entered a two-line per curiam order denying the U.S. Department of Justice's (DOJ) request to postpone its deadline to respond to the National...more
10/21/2025
/ Appellate Courts ,
Consumer Financial Protection Bureau (CFPB) ,
Denial of Rehearing ,
Department of Justice (DOJ) ,
En Banc Review ,
Filing Deadlines ,
Government Shutdown ,
Motion To Stay ,
Petition For Rehearing ,
Preliminary Injunctions ,
U.S. Treasury ,
Unions
The U.S. Court of Appeals for the District of Columbia Circuit on Oct. 6, 2025, mandated that the CFPB file a response to the National Treasury Employees Union's (NTEU) petition for rehearing en banc of a three-judge panel's...more
10/10/2025
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
En Banc Review ,
Government Shutdown ,
Judicial Review ,
Jurisdiction ,
Motion To Stay ,
Preliminary Injunctions ,
Regulatory Oversight ,
Stays ,
Trump Administration
The National Treasury Employees Union (NTEU) filed a petition for rehearing en banc on Sept. 29, 2025, requesting the full U.S. Court of Appeals for the District of Columbia Circuit to reconsider a three-judge panel's...more
10/10/2025
/ Administrative Procedure Act ,
Appeals ,
Appellate Courts ,
Civil Service Reform Act ,
Consumer Financial Protection Bureau (CFPB) ,
En Banc Review ,
Government Agencies ,
Involuntary Reduction in Force ,
Jurisdiction ,
Preliminary Injunctions ,
Regulatory Agenda ,
U.S. Treasury ,
Unions
The CFPB finalized its June 18, 2025, interim final rule on Oct. 2, 2025, amending Regulation B to extend the compliance dates set forth in its small business lending rule (issued in March 2023 to implement Section 1071 of...more
10/6/2025
/ Compliance Dates ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Dodd-Frank ,
Final Rules ,
Loans ,
Popular ,
Regulation B ,
Reporting Requirements ,
Section 1071 ,
Small Business
The CFPB on Sept. 25, 2025, issued a final rule to rescind amendments it previously adopted to the Procedures for Supervisory Designation Proceedings, "with the exception of some limited process adjustments."...more
The CFPB on Aug. 26, 2025, issued a proposed rule to adopt a legal standard applicable to supervisory designation proceedings. Specifically, the CFPB is proposing to adopt a standard definition of "risks to consumers with...more
8/28/2025
/ Administrative Procedure Act ,
Comment Period ,
Congressional Review Act ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Person ,
Effective Date ,
Nonbank Firms ,
Proposed Rules ,
Regulatory Oversight ,
Risk Management ,
Rulemaking Process ,
Statutory Interpretation ,
Supervision
The CFPB published an advanced notice of proposed rulemaking (ANPR) on Aug. 22, 2025, seeking comments and data to aid in the agency's reconsideration of its Section 1033 Open Banking Rule. This notice follows the CFPB's...more
8/28/2025
/ Administrative Procedure Act ,
Advanced Notice of Proposed Rulemaking (ANPRM) ,
Arbitrary and Capricious ,
Comment Period ,
Compliance Dates ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Data Privacy ,
Data Protection ,
FinTech ,
Open Banking ,
Regulatory Requirements ,
Rulemaking Process
The CFPB released its semiannual Unified Rulemaking Agenda update on Aug. 15, 2025, outlining its rulemaking initiatives. The CFPB releases regulatory updates twice per year reflecting the agency's plans to propose, finalize...more
8/20/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Final Rules ,
Mortgage Servicers ,
OMB ,
Proposed Rules ,
Regulation E ,
Regulation V ,
Regulation X ,
Regulatory Agenda ,
RESPA ,
Rulemaking Process ,
Small Business ,
Small Business Loans ,
Truth in Lending Act (TILA) ,
UDAAP
The CFPB on July 21, 2025, withdrew a direct final rule that would have "rescinded procedures by which a State official must notify the Bureau when the official takes an action to enforce the Consumer Financial Protection...more
The CFPB published four advanced notices for proposed rulemaking in the Federal Register on Aug. 8, 2025. Each notice seeks comment from experts within the automobile financing, international money transfer, consumer...more
8/12/2025
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Automotive Loans ,
Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Consumer Reporting Agencies ,
Debt Collection ,
EFTA ,
Market Participants ,
Money Transfer ,
Money Transmitter ,
Non-Bank Lenders ,
Nonbank Firms ,
Regulatory Oversight
President Donald Trump on July 4, 2025, signed into law the One Big Beautiful Bill Act (OBBB), sweeping legislation that has direct impacts on the future of the CFPB. The final bill reduces the CFPB's operating budget from 12...more
The CFPB has issued a policy statement describing its plan to address criminally liable regulatory offenses. President Donald Trump previously issued an executive order on May 9, 2025, requiring each federal agency to publish...more
6/30/2025
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Criminal Liability ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
EFTA ,
Enforcement Authority ,
Executive Orders ,
Financial Crimes ,
New Guidance ,
Penalties ,
Policy Statement ,
Regulatory Requirements ,
Reporting Requirements ,
RESPA ,
Trump Administration ,
Truth in Lending Act (TILA)
The CFPB has continued to announce additional procedural, rulemaking and administrative changes, with the latest being three postings to the Federal Register on June 18, 2025: 1) a final rule rescinding the Procedure Relating...more
6/27/2025
/ Civil Monetary Penalty ,
Civil Penalty Fund ,
Compliance Dates ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Federal Register ,
Final Rules ,
Interim Final Rules (IFR) ,
Proposed Rules ,
Regulation B ,
Rescission ,
Rulemaking Process ,
Section 1071 ,
Small Business Loans
U.S. District Court Judge Barbara J. Rothstein granted, in part, the CFPB's motion to withdraw its amicus brief filed by the Biden-era CFPB regarding the "proper interpretation of the Fair Debt Collection Practices Act's...more
6/26/2025
/ Advisory Opinions ,
Amicus Briefs ,
Biden Administration ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
FDCPA ,
Guidance Documents ,
Judicial Authority ,
Regulatory Agencies ,
Statutory Interpretation ,
Trump Administration
Senate Parliamentarian Elizabeth MacDonough ruled that the Trump Administration and congressional Republicans cannot use the pending budget reconciliation bill to eliminate funding to the CFPB in a June 23, 2025,...more
6/25/2025
/ Budget Cuts ,
Budget Reconciliation ,
Consumer Financial Protection Bureau (CFPB) ,
Federal Budget ,
Financial Regulatory Reform ,
Government Agencies ,
Proposed Legislation ,
Regulatory Reform ,
Rulemaking Process ,
Senate Banking Committee ,
Trump Administration
The Federal Reserve's Office of Inspector General (OIG) reportedly committed to reviewing the Trump Administration's efforts to eliminate the vast majority of CFPB employees and agency contracts on June 6, 2025. This decision...more
6/24/2025
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Contract Termination ,
Federal Reserve ,
GAO ,
Government Agencies ,
Government Investigations ,
Government Reorganization ,
Investigations ,
OIG ,
Preliminary Injunctions ,
Reduction of Force ,
Trump Administration
The CFPB has requested that a federal district court vacate the Biden-era Open Banking Rule (Rule) in a motion for summary judgment filed on May 30, 2025. The CFPB had previously submitted a status report to the U.S. District...more
The U.S. House of Representatives has passed an extensive budget reconciliation bill that would reduce the CFPB budget by 70 percent. In a 215-214 vote along party lines, the budget cut first approved by the House Committee...more
The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more
5/28/2025
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Final Rules ,
Mortgages ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Rescission ,
RESPA ,
Rulemaking Process
The CFPB has withdrawn its 1) Fair Credit Reporting Act (FCRA)/Regulation V Proposed Rule (Data Broker Rule), 2) Prohibited Terms and Conditions in Agreements for Consumer Financial Products or Services (Regulation AA)...more
5/16/2025
/ Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Reporting Agencies ,
Data Brokers ,
Deregulation ,
Dodd-Frank ,
EFTA ,
Enforcement Authority ,
Fair Credit Reporting Act (FCRA) ,
Final Rules ,
Interpretive Rule ,
Regulation E ,
Regulatory Requirements ,
Rescission ,
Trump Administration
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
5/14/2025
/ Banks ,
Biden Administration ,
Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Financial Institutions ,
FinTech ,
Mobile Apps ,
Overdraft Fees ,
Payment Systems ,
Popular ,
Rescission ,
Trump Administration
U.S. Department of the Treasury Secretary Scott Bessent announced on May 9, 2025, that Jonathan McKernan has been selected by President Donald Trump to serve as the Undersecretary of Domestic Finance at the Treasury...more
The CFPB announced on May 9, 2025, that nearly 70 guidance documents will be withdrawn after an agency-wide review of documents that violate the Administrative Procedure Act (APA). ...more
The CFPB on April 30, 2025, reached an agreement with lender trade groups to vacate the Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information Rule (the Medical Debt Rule). The joint motion...more