The CFPB has published its Spring 2019 rulemaking agenda as part of the Spring 2019 Unified Agenda of Federal Regulatory and Deregulatory Actions, which is coordinated by the Office of Management and Budget (OMB).  It represents the CFPB’s first rulemaking agenda under Director Kraninger’s leadership.  The agenda’s preamble indicates that the information in the agenda

The CFPB’s Fall 2018 rulemaking agenda has been published by the Office of Information and Regulatory Affairs (OIRA) as part of its Fall 2018 Unified Agenda of Federal Regulatory and Deregulatory Actions.  (OIRA is part of the Office of Management and Budget.)  It represents the CFPB’s second rulemaking agenda under the Trump Administration and Acting

In addition to the CFPB’s Spring 2018 rulemaking agenda that we have already blogged about, the Spring 2018 rulemaking agendas of several other federal agencies contain some items of interest to consumer financial services providers.

Items of particular interest are:

  • OCC.  The OCC plans to issue an Advance Notice of Proposed Rulemaking “for modernizing

The CFPB has issued a request for information that seeks comment on its rulemaking processes.  Comments on the RFI must be received by June 7, 2018.

The RFI begins with a review of the statutory requirements that are relevant to the CFPB’s rulemaking processes.  The RFI discusses the Administrative Procedure Act notice-and-comment requirements, the Regulatory

This week, New York Governor Andrew Cuomo issued a press release directing the New York Department of State to issue a new regulation impacting consumer reporting agencies.  The new regulation was adopted on an emergency basis and went into immediate effect in order to protect consumers from identity theft and other potential economic harms that

The FCC has issued a Report and Order and Further Notice of Proposed Rulemaking (Order) adopting new rules to allow voice service providers to proactively block calls from certain numbers that are suspected to be fraudulent. The November 16 Order seeks to prevent fraud or identity theft that often accompanies calls which “spoof” or manipulate

California and the District of Columbia have recently released regulations under their respective student loan servicing laws.  Each is taking comments on its regulations, but whereas California has merely issued proposed regulations, the District of Columbia has issued emergency regulations that are currently in effect. A brief summary of the regulations and their effective dates

Last week, New York Governor Andrew Cuomo issued a press release directing the New York Department of Financial Services (“NYDFS”) to impose new rules on consumer reporting agencies (“CRAs”).  The proposed regulation would subject CRAs that issue consumer reports (as defined in a manner similar to the federal Fair Credit Reporting Act) about consumers

During the “Developments at the CFPB” panel this morning at the Pennsylvania Bar Institute Consumer Financial Services & Banking Law Update program in Philadelphia, Jeffrey Ehrlich, the CFPB’s Deputy Enforcement Director, would not comment on whether the CFPB will seek further judicial review of the October 11 opinion of a 3-judge panel of the U.S.

In its decision last week in PHH Corporation v. CFPB, the D.C. Circuit ruled that the CFPB’s single-director-removable-only-for-cause structure is unconstitutional.  While the D.C. Circuit (in footnote 19) noted that it “need not here consider the legal ramifications of our decision for past CFPB rules or for past agency enforcement actions,” we have determined