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Goodwin

Busy Month for CFPB with Rules Rescinded and Guidance Withdrawn

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Over the past month, the Consumer Financial Protection Bureau (CFPB) took a slew of actions with the apparent aim to decrease the CFPB’s regulatory authority. On May 14, 2025, the CFPB proposed rescinding the “NBR Rule”...more

Ballard Spahr LLP

CFPB proposes to rescind rule requiring nonbanks to register certain agency enforcement and court orders

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The CFPB is proposing to rescind its rule that requires certain nonbank entities to register covered agency enforcement and court orders....more

Ballard Spahr LLP

Trump signs resolution voiding CFPB large nonbank supervision rule

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President Trump has signed a resolution nullifying the rule implementing the CFPB’s power to supervise large nonbank financial services providers of general-use digital consumer payment applications....more

Ballard Spahr LLP

CFPB rescinds 67 guidance documents

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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

Troutman Pepper Locke

CFPB Withdraws Proposed FCRA Data Broker Rule

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Yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register....more

Troutman Pepper Locke

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

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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

Troutman Pepper Locke

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

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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

Troutman Pepper Locke

CFPB Rescinds Dozens of Regulatory Guidance Documents in Major Regulatory Shift

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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

Carlton Fields

SEC Engages in “Targeted, Common-Sense” Reorganization

Carlton Fields on

It has been reported that the Securities and Exchange Commission (SEC) recently reduced head count by an estimated 12% due to the Trump administration’s effort to rapidly downsize the federal government. Particularly hard-hit...more

Ballard Spahr LLP

CFPB, industry groups ask Federal Judge to kill bureau medical debt rule

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The CFPB says it wants to scrap a Biden Administration rule that prohibits credit reporting agencies from including medical debts on credit reports, one of many Biden era rules that the Trump Administration has sought to...more

Goodwin

What’s Happening at the SEC?

Goodwin on

Hello, this is Dave Lynn, and I’m a partner in Goodwin’s Capital Markets practice and chair of the firm’s Public Company Advisory practice. This is New Directions, a series of discussions about the impact and trajectory of...more

Orrick, Herrington & Sutcliffe LLP

Treasury issues final rule to eliminate several regulations

On April 15, the Treasury issued a direct final rule to eliminate several regulations or portions of regulations it deemed unnecessary in response to an Executive Order 14219 directing agencies to pursue deregulation. The...more

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

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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

Ballard Spahr LLP

House sends Trump resolution to nullify CFPB overdraft rule

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

Jones Day

FDIC Rescinds Prior Notification Requirement for Banks' Permissible Crypto Activities

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The FDIC has rescinded an earlier Financial Institution Letter establishing a prior notification requirement for FDIC-supervised institutions that wish to engage in specified crypto-related activities and has clarified that...more

Troutman Pepper Locke

Federal Banking Agencies Announce Intent to Rescind 2023 Community Reinvestment Act Final Rule

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On March 28, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (together, the federal banking agencies) announced their intent to rescind the...more

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