CFPB, Federal Agencies, State Agencies, and Attorneys General
The Trump Administration has declined to respond to a Supreme Court petition by the two ousted Democratic NCUA board members who are asking for the court to consider their case.
“The Government hereby waives its right to file a response to the petition in this case, unless requested to do so by the Court,” Solicitor General D.… Continue Reading
A federal judge has issued an injunction delaying the compliance dates of the CFPB’s open banking rule (“Rule”).
In issuing the injunction, U.S. District Judge Danny C. Reeves of the U.S. District Court for the Eastern District of Kentucky said the bureau has said it is rewriting the Rule that was issued during the Biden Administration.… Continue Reading
The CFPB has formally rescinded its rule creating a registry for nonbank enforcement actions.
The rule, proposed during the Biden Administration, would have required certain nonbank entities to register certain covered enforcement or court orders, and comply with ongoing, attested reporting requirements on the entity’s compliance with such orders.
The repeal was effective on October 29, 2025.… Continue Reading
Democrats on the Senate Banking, Housing and Urban Affairs Committee are accusing Acting CFPB Director Russell Vought of trying to shut down the CFPB by starving it of funding.
“You have…let the fiscal year pass without having requested any funding for the CFPB to perform its work, an unprecedented approach that threatens to leave the agency unable to fulfill its many statutory obligations on behalf of consumers across the country,” the Democrats, led by ranking Democratic Sen.… Continue Reading
The NCUA has issued a Notice of Proposed Rulemaking to codify the elimination of reputational risk from its supervisory program, becoming the latest federal financial regulator to do so.
“NCUA has determined that assessing reputation risk is subjective, ambiguous, and lacking in measurable criteria,” the agency said, in announcing the action.… Continue Reading
Contending that it cannot abolish the CFPB on its own, the Trump Administration said that the union arguing that such a plan exists should not be entitled to an en banc hearing before an appeals court.
“Although factual disputes exist surrounding those actions, all the parties and both the majority and dissenting opinions agree that the Executive Branch lacks power to unilaterally abolish [the] CFPB based on policy disagreements with Congress’s choices,” the Justice Department said, in response to the request for an en banc hearing filed by the National Treasury Employees Union in the U.S.… Continue Reading
The federal Judicial Branch no longer has funds to sustain full operations, the U.S. Courts system has announced.
“Until the ongoing lapse in government funding is resolved, federal courts will maintain limited operations necessary to perform the Judiciary’s constitutional functions,” the Administrative Office of the U.S. Courts said in an announcement on the U.S.… Continue Reading
A federal appeals court has rejected the Trump Administration’s request to delay its response to an en banc hearing request in the lawsuit challenging the mass firings at the CFPB due to the government shutdown.
The National Treasury Employees Union (NTEU), which is challenging the firings, had not opposed the Administration’s request.… Continue Reading
Saying that the federal government shutdown makes it impossible for them to work on the case, Justice Department attorneys are asking a federal appeals court to delay its response to a request for an en banc hearing in the lawsuit challenging mass firings at the CFPB.
“At the end of the day on September 30, 2025, the appropriations act that had been funding the Department of Justice expired and appropriations to the Department lapsed,” the attorneys told the U.S.… Continue Reading
As the government shutdown drags on, some financial services programs—particularly housing programs– are being affected.
The CFPB is funded through the Federal Reserve system, not through annual appropriations, and technically is still operating, although as we have reported previously many CFPB employees are not being permitted to work. (That CFPB funding mechanism was the subject of a Supreme Court case and the court found the funding system constitutional.)… Continue Reading
