A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank (Trustmark) and to dismiss with prejudice the redlining case they brought that resulted in that consent order.

As previously reported, the agencies, along with the Comptroller of the Currency, announced the consent order at the same time that the DOJ announced its initiative to combat redlining.… Continue Reading

We are releasing today on our podcast show a repurposed webinar which we produced on May 13, 2025 entitled “What is happening at the federal agencies (other than the CFPB) that is relevant to the consumer financial services industry.”

During this podcast, we will inform you about recent developments at those other agencies, including the FTC, OCC, FDIC, FRB and DOJ (collectively, the “Agencies”) and the White House (through the issuance of Executive Orders).… Continue Reading

The CFPB is planning to repeal its Section 1033 Open Banking Rule, according to a filing in a federal lawsuit challenging the rule. On the same day the Final Rule was issued, the Banking Policy Institute (BPI) and Kentucky Bankers Association filed a lawsuit in the U.S. District Court for the Eastern District of Kentucky seeking injunctive relief, alleging that the CFPB exceeded its statutory authority.… Continue Reading

In a move that could have ramifications for lawsuits filed by former FTC and NCUA board members, by a vote of 6-3 the Supreme Court has issued a stay that prohibits the Democratic members of the National Labor Relations Board and the Merit Systems Protection Board who were fired by President Trump from continuing to serve while challenging the legality of their removal.… Continue Reading

This episode is part of our Sustainability Spotlight series, which highlights the sustainability efforts that businesses are making to combat climate change and other environmental challenges.

This episode features a discussion with John Walsh, Senior Vice President of Investor and Government Relations, and Ali Snyder, Director of Sustainability and Marketing at Chart Industries, Inc.… Continue Reading

New York Gov. Kathy Hochul has signed legislation that, among other things, imposes new licensing requirements on Buy Now, Pay Later services.

In touting the FY26 budget bill that contained the consumer protection provisions, Hochul commented, “Our tax cuts, credits, and rebates won’t be much help if bad actors are able to scam or mislead New Yorkers.… Continue Reading

The huge FY26 budget reconciliation bill, H.R. 1, dubbed the “One Big Beautiful Bill Act,” contains provisions that would slash CFPB spending.

“We put a firm cap on the Consumer Financial Protection Bureau’s budget, setting its funding at no more than $249 million for 2025, with an annual adjustment for inflation going forward,” House Financial Services Committee Chairman Rep.… Continue Reading

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

Specifically, the rule applies to any supervised or non-supervised nonbank that engages in offering or providing consumer financial products or services and any of its service provider affiliates unless excluded.… Continue Reading

Our podcast show being released today will focus on S. 919, the Guiding and Establishing National Innovation for U. S. Stablecoins Act of 2025 or GENIUS Act which was reported out of the Senate Banking, Housing, and Urban Affairs Committee by a bipartisan vote of 18-6. The bill would establish a regime to regulate stablecoins.… Continue Reading

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.

Trump signed the resolution under the Congressional Review Act, which grants Congress and the President the power to nullify agency rules. The resolution passed the House and Senate before being sent to Trump.… Continue Reading