John L. Culhane, Jr.

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At the July 27, 2026 meeting of the Financial Literacy and Education Commission (FLEC), Comptroller of the Currency Jonathan Gould outlined the Office of the Comptroller of the Currency’s approach to financial literacy, emphasizing digital financial education, responsible innovation, and the important role that banks, particularly community banks, play in helping consumers navigate an increasingly complex financial system.… Continue Reading

On July 27, 2026, CFPB Deputy Director Mark Paoletta delivered remarks at a meeting of the Financial Literacy and Education Commission that left little doubt that the Bureau’s approach to financial education has undergone a dramatic philosophical shift under Acting Director Russell Vought. In his remarks, Paoletta sharply criticized former CFPB Director Rohit Chopra’s views on financial literacy while outlining the Bureau’s new priorities under the Trump Administration.… Continue Reading

Governor Mikie Sherrill has announced her intention to nominate Christopher L. Peterson, one of the nation’s best-known consumer protection scholars and former senior Consumer Financial Protection Bureau official, to serve as Director of the New Jersey Division of Consumer Affairs. Peterson will begin serving as Acting Director on August 3, pending his formal nomination and confirmation by the New Jersey Senate. … Continue Reading

According to a report by Eleanor Mueller of Semafor, Russell Vought is expected to remain at the Consumer Financial Protection Bureau in a senior adviser role after his service as Acting Director ends on August 1, continuing until Brian Johnson is confirmed by the Senate and sworn in as CFPB Director.… Continue Reading

The Oregon Department of Consumer and Business Services, Division of Financial Regulation (DFR), has proposed to issue Bulletin No. DFR 2026-X, reminding nonbank “Buy Now, Pay Later” (BNPL) companies and BNPL service providers that they generally must obtain Oregon lending licenses before offering BNPL products to Oregon consumers. Unlike a few other states, Oregon has not enacted a statute that specifically applies to BNPL companies and service providers.… Continue Reading

“Nature abhors a vacuum.” — Aristotle

The Consumer Financial Protection Bureau’s dramatic retreat from enforcement during 2025 and 2026 has created one of the most significant shifts in consumer financial services regulation since the Bureau opened its doors in 2011.

Much has been written about what the CFPB is no longer doing.… Continue Reading

The Senate Committee on Banking, Housing, and Urban Affairs has scheduled a confirmation hearing for Brian Johnson, President Trump’s nominee to serve as Director of the Consumer Financial Protection Bureau (CFPB).

The hearing will take place on Thursday, July 23, 2026, at 10:00 a.m. EDT in Room 538 of the Dirksen Senate Office Building.… Continue Reading

Massachusetts Governor Maura Healey has proposed regulations that would stop certain companies in the state from reporting medical debt to consumer credit agencies. 

The proposal would prohibit licensed medical care providers and debt collectors working for them from reporting medical debt to credit bureaus, intending to help patients avoid long-term financial harm after an unexpected illness or medical emergency. … Continue Reading

On July 8, 2026, the New York City Department of Consumer and Worker Protection (DCWP) proposed a far-reaching rule that would prohibit businesses from charging consumers hidden “junk fees” and require “all-in” pricing for virtually every good and service advertised in New York City. If adopted, the proposal would represent one of the broadest municipal price-transparency regulations in the country and would significantly expand the City’s efforts to combat so-called junk fees beyond the hotel industry. … Continue Reading