CFPB, Federal Agencies, State Agencies, and Attorneys General
President Donald Trump has nominated John Crews to serve on the NCUA board. If confirmed, Crews would replace Kyle Hauptman as the sole board member of the agency.
Hauptman’s term expired in August 2025, but he has stayed on the board as permitted by section 102(c) of the Federal Credit Union Act, which allows any board member to continue to serve after the expiration of their term until a successor has qualified.… Continue Reading
President Donald Trump issued another significant Executive Order affecting the financial services industry, this time directed at integrating financial technology innovation more directly into the U.S. regulatory framework. The Executive Order, entitled “Integrating Financial Technology Innovation into Regulatory Frameworks,” was signed on May 19, 2026 and appears designed to accelerate the integration of fintech firms, digital asset providers, and other non-bank innovators into the traditional banking and payments system.… Continue Reading
Countering an Executive Order issued by President Trump and the adoption by the CFPB of its final rule revising Regulation B, the New York Department of Financial Services recently issued an Industry Letter warning the financial institutions that it regulates that they must consider disparate impact when lending.
“Regulated Entities are reminded that under Section 296-a, covered credit decisions that result in a disparate impact may constitute an unlawful discriminatory practice,” the agency wrote in a letter to financial institutions.… Continue Reading
Today, we released a new episode of the award-winning Consumer Finance Monitor Podcast examining one of the most significant recent federal developments in the fight against scams and fraud: Executive Order 14390.
Hosted by Alan Kaplinsky (the founder, chair for 25 years and now Senior Counsel in the Consumer Financial Services Group), the episode features returning guests Kate Griffin and Nick Bourke of the Aspen Institute, who previously joined the podcast to discuss Aspen’s landmark report, United We Stand: A National Strategy to Prevent Scams.… Continue Reading
The CFPB’s Office of Inspector General is still investigating the agency’s workforce and contracting moves to see what impact it has had on agency actions.
“We are reviewing the CFPB’s workforce and contracting actions to determine their high-level effects on mission-related activities and support functions,” the OIG said, in an update of its activities.… Continue Reading
The FDIC has issued FIL-14-2026 rescinding its guidance governing the re-presentment of the same transaction after raising questions about the Biden Administration’s prior guidance.
“Based on a review and assessment of the guidance in FIL-32-2023, the FDIC concludes that the guidance is overly broad in scope and has raised uncertainty regarding when, for instance, disclosures regarding re-presentments may result in ‘unfairness’ concerns under Section 5 of the Federal Trade Commission Act,” the FDIC said in announcing the rescission.… Continue Reading
In the episode of Consumer Finance Monitor Podcast being released today, we explore the White House’s National Policy Framework for Artificial Intelligence published on March 20, 2026. This new framework represents the Administration’s most concrete attempt yet to shape the future of AI governance in the United States. While it does not carry the force of law, it offers a revealing look at the policy direction the Administration hopes Congress will take.… Continue Reading
The Federal Reserve has transferred funds to the Federal Reserve Bank of New York to pay the expenses of the CFPB for the third quarter of this fiscal year, according to a letter posted on the agency’s website.
The letter from Federal Reserve Chief Financial Officer Rendell Jones to CFPB Chief Financial Officer Janfar Gueye does not disclose the amount of the deposit, but the bureau requested $75.8 million.… Continue Reading
FTC Chairman Andrew N. Ferguson has sent letters to four major financial services providers warning them that they may not engage in debanking—disqualifying potential and current customers from receiving services based on religious, or political views.
The letters were sent to the CEOs of PayPal, Stripe, Visa, and Mastercard and cite publicly reported instances of debanking by PayPal and Stripe.… Continue Reading
On March 20, 2026, the White House released its National Policy Framework for Artificial Intelligence. This Framework contains a sweeping set of legislative recommendations intended to establish a coherent, nationally unified approach to AI governance. While the Framework does not itself create binding legal obligations, it is likely to shape federal AI legislation in the months and years ahead.… Continue Reading
