Three nonprofit organizations have filed a complaint in the Northern District of California seeking declaratory and injunctive relief to prevent what they describe as a de facto shutdown of the Consumer Financial Protection...more
On November 24, the plaintiffs in National Treasury Employees Union (NTEU) v. Consumer Financial Protection Bureau (CFPB or Bureau) filed a motion to clarify the existing injunction, asking the court to confirm that the CFPB...more
11/26/2025
/ Administrative Procedure Act ,
Anti-Deficiency Act ,
Appeals ,
Civil Service Reform Act ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Employment Litigation ,
En Banc Review ,
Federal Funding ,
Federal Reserve ,
Preliminary Injunctions ,
Statutory Interpretation
On November 21, the Consumer Financial Protection Bureau (CFPB or Bureau) notified staff that it will restart supervision and require examiners, beginning with the 2026 examination cycle, to open each review by reading to the...more
11/25/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement Priorities ,
Federal Funding ,
Federal Reserve ,
Financial Services Industry ,
Funding ,
Regulatory Oversight ,
Supervision
As reported by Law360 on November 20, the Consumer Financial Protection Bureau (CFPB or Bureau) will hand off its remaining enforcement lawsuits and other active litigation to the U.S. Department of Justice (DOJ) as the...more
11/25/2025
/ Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Funding ,
Government Agencies ,
Government Shutdown ,
Litigation Strategies ,
Office of Legal Counsel (OLC) ,
Pending Litigation ,
Statutory Interpretation ,
Unions
Yesterday, President Trump nominated Stuart Levenbach, an energy official at the Office of Management and Budget (OMB), to serve a five-year term as permanent director of the Consumer Financial Protection Bureau (CFPB or...more
This week, the U.S. Department of Justice (DOJ) notified the U.S. District Court for the District of Columbia and the D.C. Circuit in the matter of National Treasury Employees Union v. Vought that the Consumer Financial...more
11/12/2025
/ Appropriations Bill ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Enforcement ,
Federal Funding ,
Federal Reserve ,
Government Agencies ,
Regulatory Authority ,
Reporting Requirements ,
Statutory Interpretation ,
Supervision
On October 29, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its rule requiring nonbank entities to register certain agency and court orders with the Bureau. This decision follows a proposal...more
11/3/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Nonbank Firms ,
Regulatory Burden ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements
On October 28, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a new interpretive rule replacing its 2022 interpretive rule (withdrawn in May 2025) concerning the scope of preemption under the Fair Credit...more
10/29/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Consumer Reports ,
Executive Orders ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Interpretive Rule ,
New Guidance ,
Preemption ,
Regulatory Reform ,
Regulatory Requirements ,
Statutory Interpretation
On September 29, the California Department of Financial Protection and Innovation (DFPI) announced significant modifications to the proposed regulations under the Digital Financial Assets Law (DFAL) and the Money Transmission...more
10/6/2025
/ California ,
Cryptoassets ,
Department of Financial Protection and Innovation (DFPI) ,
Digital Assets ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
Money Transmission Act ,
Proposed Amendments ,
Public Consultations ,
Regulatory Reform ,
Regulatory Requirements ,
Rulemaking Process ,
Token Sales
On September 17, the New York State Department of Financial Services (DFS) issued new guidance on the use of blockchain analytics tools. This new guidance builds upon the blockchain guidance issued by DFS in 2022, and applies...more
9/24/2025
/ Analytics ,
Anti-Money Laundering ,
Banks ,
Blockchain ,
BSA/AML ,
Cryptocurrency ,
Digital Assets ,
Digital Wallets ,
Financial Institutions ,
Financial Services Industry ,
New Guidance ,
New York ,
NYDFS ,
Risk Management ,
Virtual Currency
On April 16, the Consumer Financial Protection Bureau released a memo to staff outlining its new supervision and enforcement priorities for 2025. These priorities appear to be intended to reverse some of the more prominent...more
9/4/2025
/ Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Deregulation ,
Enforcement Priorities ,
Fair Lending ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgages ,
Nonbank Firms ,
Regulatory Reform ,
Trump Administration
On August 29, the Federal Deposit Insurance Corporation (FDIC) announced updates to its Consumer Compliance Examination Manual, marking a pivotal shift in how potential discrimination under the Equal Credit Opportunity Act...more
9/4/2025
/ Banks ,
Consumer Financial Products ,
Disparate Impact ,
Disparate Treatment ,
ECOA ,
Executive Orders ,
Fair Housing Act (FHA) ,
Fair Lending ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Government Agencies ,
Regulatory Reform ,
Trump Administration ,
Unfair or Deceptive Trade Practices
The Consumer Financial Protection Bureau (CFPB or Bureau) is taking a significant step to modify its supervisory approach to nonbanks by publishing a proposed rule advancing a more stringent definition of “risks to consumers”...more
8/29/2025
/ Comment Period ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Regulatory Reform ,
Financial Services Industry ,
Non-Bank Lenders ,
Non-Depository Institutions ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform ,
Risk Management ,
Rulemaking Process ,
Statutory Interpretation ,
Supervision ,
Supervisory Guidance
Last week, Illinois Governor JB Pritzker signed two landmark pieces of legislation aimed at protecting consumers from cryptocurrency scams and fraud. The Digital Assets and Consumer Protection Act (SB1797) and the Digital...more
8/28/2025
/ Anti-Money Laundering ,
Consumer Protection Laws ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
Financial Fraud ,
Financial Regulatory Reform ,
Illinois ,
Investment ,
New Legislation ,
Regulatory Oversight ,
Regulatory Requirements ,
Scams
On August 21, the Consumer Financial Protection Bureau (CFPB or Bureau) took a significant step forward in its reconsideration of the Section 1033 open banking final rule, originally issued in November 2024, by issuing an...more
8/25/2025
/ Advanced Notice of Proposed Rulemaking (ANPRM) ,
Comment Period ,
Consumer Data Requests ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Data Privacy ,
Data Security ,
Financial Regulatory Reform ,
Open Banking ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Requirements ,
Rulemaking Process
On August 15, the U.S. Court of Appeals for the District of Columbia issued a decision in the case of National Treasury Employees Union (NTEU) v. Consumer Financial Protection Bureau (CFPB or Bureau). The appellate court...more
8/18/2025
/ Administrative Procedure Act ,
Appeals ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Dodd-Frank ,
Government Agencies ,
Hiring & Firing ,
Jurisdiction ,
Preliminary Injunctions ,
Regulatory Violations ,
Statutory Interpretation ,
Title X ,
Trump Administration ,
Unions ,
Vacated
In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more
7/30/2025
/ Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Privacy Rights ,
Data Privacy ,
Financial Institutions ,
Financial Services Industry ,
Open Banking ,
Personal Data ,
Rulemaking Process ,
Stays
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published a policy statement in the Federal Register outlining its approach to addressing criminally liable regulatory offenses. This publication comes in...more
6/27/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Deregulation ,
Enforcement Actions ,
Enforcement Priorities ,
Executive Orders ,
Financial Crimes ,
Financial Regulatory Reform ,
Penalties ,
Regulatory Agenda ,
Regulatory Reform ,
Reporting Requirements ,
Trump Administration ,
White Collar Crimes
On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather...more
6/26/2025
/ Bankruptcy Code ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Financial Protection Bureau (CFPB) ,
Conversion ,
Depository Institutions ,
Enforcement Actions ,
Financial Institutions ,
FinTech ,
Investment Funds ,
Unfair or Deceptive Trade Practices
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
6/19/2025
/ Compliance Dates ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
ECOA ,
Filing Deadlines ,
Final Rules ,
Financial Institutions ,
Interim Final Rules (IFR) ,
Minority-Owned Businesses ,
Regulation B ,
Reporting Requirements ,
Rulemaking Process ,
Section 1071 ,
Small Business Loans ,
Women-Owned Businesses
Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to...more
6/10/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Dodd-Frank ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Mortgage Lenders ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Mortgages ,
OMB ,
Proposed Rules ,
Regulation X ,
Regulation Z ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform
We are pleased to share with you our latest publication, “Navigating Change: First 100 Days under the Trump Administration,” authored by our Digital Assets + Blockchain team. This retrospective examines the pivotal...more
5/29/2025
/ Blockchain ,
Cryptocurrency ,
Digital Assets ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
FinTech ,
Government Agencies ,
Investment Opportunities ,
Proposed Legislation ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Requirements ,
Securities Regulation ,
Trump Administration
On May 15, the Consumer Financial Protection Bureau (CFPB or Bureau) officially rescinded its May 2022 interpretive rule concerning the scope of state enforcement authority under § 1042 of the Consumer Financial Protection...more
5/22/2025
/ Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Enforcement Actions ,
Financial Regulatory Reform ,
Regulatory Authority ,
Regulatory Oversight ,
Regulatory Reform ,
State and Local Government ,
State Attorneys General ,
Statutory Interpretation ,
UDAAP
On May 14, the Consumer Financial Protection Bureau (CFPB or Bureau) published a proposed rule to rescind amendments to its Procedures for Supervisory Designation Proceedings, originally adopted in 2022 and 2024. This...more
5/19/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Financial Institutions ,
Financial Regulatory Reform ,
Non-Bank Lenders ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Regulatory Agenda ,
Regulatory Oversight ,
Rescission ,
Risk Management ,
Supervision
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
5/14/2025
/ Comment Period ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Industry ,
Non-Bank Lenders ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Requirements ,
Rescission ,
Rulemaking Process