CFPB, Federal Agencies, State Agencies, and Attorneys General
Effective October 27, 2025, the CFPB rescinded the amendments to the Procedures for Supervisory Designation Proceedings that it adopted in April 2022, November 2022, and April 2024, , with the exception of some limited process adjustments.
Section 1024(b)(7) of the Consumer Financial Protection Act authorizes the CFPB to “prescribe rules to facilitate supervision” of the nonbank covered persons described in section 1024(a), i.e.,… Continue Reading
The CFPB is considering proposing amendments to Regulation V, which implements the Fair Credit Reporting Act (FCRA), to address concerns related to information furnished to consumer reporting agencies regarding coerced debt. This follows the CFPB’s issuance of an advance notice of proposed rulemaking on December 13, 2024 to solicit information on amending the definitions of “identity theft” and “identity theft report,” as well as other related amendments to Regulation V.… Continue Reading
A federal appeals court has nullified the Federal Trade Commission’s amendments to its Negative Option Rule intended to make it easier for people to cancel subscriptions.
Custom Communications, the U.S. Chamber of Commerce, and other groups filed suit challenging the amendments to the rule, contending that the FTC did not follow proper procedures in enacting them.… Continue Reading
President Trump on Monday issued an Executive Order that prohibits most federal agencies from issuing proposed rules until an administration-appointed agency head reviews the regulation.
The President also imposed a hiring freeze at most federal agencies through another Executive Order.
The Executive Orders do not expressly exclude independent agencies, such as the CFPB.… Continue Reading
The federal banking agencies, including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively the “Agencies”), issued a notice of proposed rulemaking (“Agencies’ NPRM”) to modernize financial institutions’ anti-money laundering and countering terrorist financing (“AML/CFT”) programs.… Continue Reading
