The huge budget bill signed by President Trump on July 4 does not include a proposal from Senate Banking, Housing and Urban Affairs Committee Republicans to delay implementation of the Section 1071 rule for ten years, but the...more
7/10/2025
/ Deregulation ,
Dodd-Frank ,
Federal Budget ,
Final Rules ,
Financial Institutions ,
Financial Regulatory Reform ,
Lenders ,
LGBTQ ,
Proposed Rules ,
Regulatory Reform ,
Reporting Requirements ,
Section 1071 ,
Small Business ,
Trump Administration
Having previously announced that it was withdrawing its Buy Now, Pay Later rule, the CFPB recently said that it does not intend to issue a revised rule....more
6/23/2025
/ Administrative Procedure Act ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Disclosure Requirements ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinTech ,
New Regulations ,
Regulation Z ,
Rulemaking Process ,
Truth in Lending Act (TILA)
The CFPB is proposing to rescind its rule that requires certain nonbank entities to register covered agency enforcement and court orders....more
5/22/2025
/ Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Dodd-Frank ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Non-Bank Lenders ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Rescission ,
State and Local Government
Despite massive attempted layoffs and cancellation of third-party vendor contracts, the Trump Administration did not and does not intend to shut down the CFPB, a Justice Department attorney told a federal appeals court on...more
5/21/2025
/ Administrative Procedure Act ,
Appeals ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Deregulation ,
Employment Litigation ,
Enforcement Priorities ,
Financial Services Industry ,
Government Agencies ,
Hiring & Firing ,
Layoffs ,
Preliminary Injunctions ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Oversight ,
Trump Administration ,
Unions
Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents issued since the bureau began operating in 2011....more
5/19/2025
/ Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Executive Orders ,
Financial Regulatory Reform ,
Financial Services Industry ,
Guidance Documents ,
Mortgages ,
Regulatory Reform ,
Regulatory Requirements ,
RESPA ,
Trump Administration ,
UDAAP
The CFPB has announced it will not make enforcement of its rule requiring financial institutions to report their lending to women-owned, LGBTQI+-owned and minority-owned small businesses a priority....more
5/14/2025
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Dodd-Frank ,
Enforcement Priorities ,
Final Rules ,
LGBTQ ,
Proposed Legislation ,
Regulatory Requirements ,
Reporting Requirements ,
Small Business ,
Stays
President Trump recently signed an Executive Order entitled “Restoring Equality of Opportunity and Meritocracy“ to eliminate the use of disparate impact liability. The U.S. Department of Housing and Urban Development (HUD)...more
5/5/2025
/ Civil Rights Act ,
Constitutional Challenges ,
Consumer Financial Products ,
Deregulation ,
Disparate Impact ,
ECOA ,
Enforcement Actions ,
Executive Orders ,
Fair Housing Act (FHA) ,
Financial Regulatory Reform ,
Financial Services Industry ,
HUD ,
Mortgages ,
Regulatory Agencies ,
SCOTUS ,
Texas Dept of Housing v Inclusive Communities ,
Title VII ,
Trump Administration ,
Unfair or Deceptive Trade Practices
The Trump Administration has appealed an order by a federal District Court Judge blocking the CFPB from firing 1483 employees effective in June 2025 and cutting off their access to CFPB work systems on April 18, 2025....more
4/23/2025
/ Appeals ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Employees ,
Employment Litigation ,
Financial Services Industry ,
Government Agencies ,
Hiring & Firing ,
Judicial Authority ,
Preliminary Injunctions ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Oversight ,
Regulatory Reform ,
Trump Administration ,
Voluntary Reduction in Force
Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more
4/14/2025
/ Banking Regulators ,
Banking Sector ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Debit and Credit Card Transactions ,
Deregulation ,
Federal Reserve ,
Final Rules ,
Financial Regulatory Reform ,
Financial Services Committee ,
Financial Services Industry ,
Interchange Fees ,
Overdraft Fees ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Authority ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management ,
Trump Administration
The Circuit Court of Appeals for the District of Columbia has issued an administrative stay for to a judge’s order blocking wholesale changes at the CFPB....more
4/9/2025
/ Administrative Agencies ,
Appeals ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Financial Services Industry ,
Government Agencies ,
Hiring & Firing ,
Judicial Authority ,
Preliminary Injunctions ,
Regulatory Oversight ,
Regulatory Reform ,
Stays ,
Trump Administration ,
Unions
The CFPB intends to revoke its Buy Now, Pay Later interpretive rule, according to a status report and joint motion to stay filed by the Bureau and the Financial Technology Association (FTA) in a case brought by the FTA...more
3/31/2025
/ Administrative Procedure Act ,
Biden Administration ,
Buy Now Pay Later (BNPL) ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Deregulation ,
Financial Regulatory Reform ,
Financial Services Industry ,
Regulation Z ,
Regulatory Requirements ,
Trump Administration ,
Truth in Lending Act (TILA)
In a memorandum issued last week, U.S. Department of Education Secretary Betsy DeVos withdrew various memoranda issued by the Obama Administration ED Secretary and the ED’s Financial Student Aid Division (FSA) that provided...more