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Final Rules Rulemaking Process Non-Bank Lenders

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes to Rescind Risk-Based Supervision Rulemaking

On May 14, the CFPB issued a proposed rule to rescind recent amendments to its nonbank supervisory program. The amendments were designed to expand and formalize the Bureau’s process for subjecting nonbank covered persons to...more

Troutman Pepper Locke

CFPB Proposes Rescission of Nonbank Registration Rule

Troutman Pepper Locke on

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

Sheppard Mullin Richter & Hampton LLP

New CFPB Larger Participant Rule Boosts Oversight of Major Digital Payment Providers

On November 21, the CFPB announced the arrival of its finalized larger participant rule (the “Rule”) regulating nonbank companies offering digital funds transfer and payment wallet applications to consumers....more

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