Regulatory and Enforcement

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On a recent episode of the Consumer Finance Monitor Podcast, Alan Kaplinsky, host of the podcast, had the opportunity to interview Amelia O’Rourke-Owens, a legal scholar and former CFPB policy fellow, about her article, “Tearing Holes in Consumer Protection: Democracy’s Safety Net.” Amelia is the founder and CEO of Resilience Solutions, which provides subject matter expertise and consulting services around policy solutions and strategic planning.… Continue Reading

The federal banking agencies have proposed on May 19, 2026 the most significant overhaul of the CAMELS supervisory rating system in nearly 30 years, signaling a major philosophical shift in bank supervision under the Trump Administration. The proposal, issued by the Federal Financial Institutions Examination Council (“FFIEC”), would revise the Uniform Financial Institutions Rating System (“UFIRS”) to place greater emphasis on material financial risks and less emphasis on process-oriented supervisory criticisms.… Continue Reading

We’re pleased to offer an early preview of an upcoming episode of the Consumer Finance Monitor Podcast—and this is one you won’t want to miss.

In about a week, we’ll be releasing a special episode featuring Max Dubin, Chief of Staff to the Acting Superintendent of Banking at the New York Department of Financial Services (DFS) in conversation with our host Alan Kaplinsky, the founder, former Chair and now Senior Counsel of the Consumer Financial Services Group at Ballard Spahr. Max… Continue Reading

Following New York City Mayor Zohran Mamdani’s Executive Orders cracking down on so-called “junk fees” and “subscription traps,” city officials have begun taking action against companies and industries they say abuse consumers by imposing such fees, create such traps or otherwise violate the consumer protection laws under DWCP’s jurisdiction. While most of these actions did not involve consumer financial services as such, we felt it important for our readers to be aware of how aggressive and active this agency has become. … Continue Reading

President Trump recently issued an Executive Order entitled “Promoting Access to Mortgage Credit” seeking to promote mortgage lending by community banks and smaller banks. The Executive Order refers to community banks and smaller banks as banks with assets of less than $30 billion and $100 billion, respectively.

The premise of the Executive Order is that “[o]ver the past two decades .… Continue Reading

As previously reported, in October 2023 the CFPB and DOJ issued a joint statement regarding “the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA).” We were critical of the joint statement, and observed that:

“By not providing clear guidance on when the consideration of immigration status can cross the line into improper discrimination based on race or national origin, the agencies make it difficult for us to avoid the conclusion that the agencies’ primary goal in issuing the statement is to scare creditors away from using immigration status in credit decisions.”… Continue Reading

The CFPB recently issued a final rule increasing the asset exemption threshold under the Home Mortgage Disclosure Act (HMDA).

Banks, savings associations and credit unions are not subject to the mortgage loan data collection and reporting requirements under HMDA for a calendar year if their assets as of December 31 of the prior calendar year did not exceed an asset threshold.… Continue Reading

The CFPB recently issued a final rule increasing the asset exemption threshold for the Truth in Lending Act (TILA) requirement to maintain an escrow account for a higher-priced mortgage loan (HPML).

Regulation Z, which implements the TILA, generally requires creditors to maintain an escrow account for the payment of taxes and insurance on a first lien HPML.… Continue Reading

Republican senators on the Banking, Housing and Urban Affairs Committee are asking banking regulators to review their process of using Matters Requiring Attention (MRA) in the bank supervisory process.

“If used effectively, these are valuable supervisory tools that can mitigate broader issues and maintain financial stability,” 11 GOP senators said in a letter to the FDIC, OCC and the Federal Reserve.… Continue Reading

As part of the Federal Reserve Board’s Outlook Live Webinar series, on July 17, 2025, examiners from the Minneapolis and Chicago Federal Reserve Banks hosted a webinar to discuss the regulatory requirements related to adverse action notifications under the Equal Credit Opportunity Act (ECOA), as implemented by Regulation B, and the Fair Credit Reporting Act (FCRA).… Continue Reading