As previously reported, last year the Trump Administration filed a motion in the federal district court for the district of New Jersey to terminate the redlining consent order with Lakeland Bank that was entered into in September 2022 and provided for a five-year term. The redlining consent order was part of the Justice Department focus on redlining during the Biden Administration.… Continue Reading

David McGrath of HFSC Staff to be Guest on Webinar on August 24, 2026

The House Financial Services Committee has taken the next step in its effort to overhaul the Consumer Financial Protection Bureau (CFPB) by inviting public comment on the discussion draft of the CFPB Reform Act of 2026.… Continue Reading

The Consumer Financial Protection Bureau (CFPB) has taken the next significant step toward revising its Section 1033 “open banking” regulation.

According to the Office of Information and Regulatory Affairs (OIRA), the CFPB has submitted a Notice of Proposed Rulemaking (NPRM) entitled Personal Financial Data Rights Reconsideration (Section 1033 of the Dodd-Frank Act) for review under Executive Order 12866.… Continue Reading

Artificial intelligence is rapidly transforming consumer financial services. AI systems now influence decisions involving credit underwriting, fraud detection, customer service, pricing, marketing, and even personalized financial advice. While these technologies promise greater efficiency and innovation, they also raise profound questions about transparency, fairness, accountability, and consumer protection. 

In today’s episode of the award-winning Consumer Finance Monitor Podcast, our host, Alan Kaplinsky (founder, chair for 25 years and now Senior Counsel of the Consumer Financial Services Group at Ballard Spahr LLP) is joined by Delicia Hand, a nationally recognized expert on digital civil rights, AI governance, and consumer protection who leads AI policy initiatives at Consumer Reports.… Continue Reading

The Office of the Comptroller of the Currency (OCC) has issued a notice of proposed rulemaking that would substantially revise its regulations governing the disclosure of non-public OCC information, including confidential supervisory information (CSI). The proposal proposes consequential changes to the way banks, their affiliates, counterparties, regulators, and the public may obtain and use supervisory information and if adopted would provide for a framework for the protection and sharing of confidential supervisory information distinct from the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System.… Continue Reading

We are delighted to announce that David McGrath, Majority Staff of the House Financial Services Committee and one of the architects of the CFPB Reform Act of 2026 Discussion Draft will be our featured guest for Ballard Spahr’s webinar on Monday, August 24, 2026, from 12:00 p.m. to 1:30 p.m. ET.… Continue Reading

Reuters reported yesterday that an internal email sent by a senior Consumer Financial Protection Bureau (CFPB) official warned examination staff to avoid making “inflammatory or newsworthy” comments during examinations and cautioned that doing so could result in “the most unpleasant manner” of repercussions. Although Reuters did not publish the complete email, the excerpts it quoted have already generated considerable attention and raise important questions about the Bureau’s evolving supervisory philosophy.… Continue Reading

CFPB Deputy Director Mark Paoletta has become the Bureau’s Acting Director following the expiration of Russell Vought’s service as Acting Director on August 1. Under the Federal Vacancies Reform Act, Vought could serve as Acting Director only for a limited period.

President Trump has nominated Brian Johnson to serve as the CFPB’s next Director, but the Senate Committee on Banking, Housing, and Urban Affairs has not yet voted on his nomination.… Continue Reading

The Federal Reserve Board and the Federal Deposit Insurance Corporation have issued substantially identical notices of proposed rulemaking to modernize the regulations governing extensions of credit by banks to their executive officers, directors, principal shareholders, and their related interests. Because the agencies supervise different categories of insured depository institutions, each is proposing amendments to its own regulations, although the proposals are virtually identical in substance.… Continue Reading

The federal banking agencies, the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency, have issued a joint statement establishing a coordinated approach for the handling of highly sensitive information during bank examinations. While the statement does not impose new supervisory expectations, it represents an important acknowledgment that the examination process itself can create cybersecurity and information security risks if highly sensitive information is not handled appropriately.… Continue Reading