On Oct. 29, 2025, the Consumer Financial Protection Bureau (CFPB) withdrew its proposed rule that would have required certain nonbank financial companies subject to its supervisory jurisdiction to submit annual reports about their use of terms and conditions that attempt to waive or limit consumer rights and protections.
Continue Reading CFPB Withdraws ‘Fine Print’ Rule
Earlier this year, the CFPB announced a significant shift in its supervisory and enforcement priorities, returning its focus to depository institutions, targeting clear consumer fraud, and prioritizing mortgages, data furnishing, and debt collection. As a result, the agency has reduced the number of exams it conducts and has launched comprehensive rulemakings to reassess its larger participant rules.
Continue Reading CFPB Proposes to Narrow Risk-Based Supervision
Open banking frameworks are transforming how consumer financial data is shared and utilized, thanks to collaboration among financial institutions, technology companies, and regulators. With the CFPB revisiting the 2024 Final Rule under the Dodd-Frank Act, stakeholders are weighing in on the future of consumer data access and financial innovation.
Continue Reading CFPB Reopens Its Open Banking Rule for Comment
As part of its FY 2026 budget, New York has enacted legislation to regulate Buy Now, Pay Later (BNPL) products and providers.
Continue Reading New York Enacts Landmark ‘Buy Now, Pay Later’ Regulation Amid Federal Regulatory Recalibration
On April 30, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it “will not prioritize enforcement or supervision actions” related to obligations imposed by its Small Business Lending Rule (under Regulation B) against entities not covered by the Fifth Circuit Court of Appeals’ stay in Texas Bankers Association v. CFPB, No. 24-40705.
Continue Reading CFPB Will Not Enforce Small Business Lending Rule
On April 16, 2025, the CFPB’s Chief Legal Officer, Mark R. Paoletta, issued a memorandum to CFPB staff that sets out the agency’s 2025 supervision and enforcement priorities.
Continue Reading CFPB Memo Details Less Oversight on Fintechs, Shift to State-Led Enforcement
Since taking office, President Trump reduced the Consumer Financial Protection Bureau’s influence by appointing Russell Vought as acting director, who paused rulemaking, enforcement, and other CFPB activities. This shift impacts bank-fintech partnerships, requiring industry adjustments.
Continue Reading The Current And Future State Of Bank-Fintech Partnerships
On Feb. 11, 2025, President Trump nominated Jonathan McKernan to be the next director of the Consumer Financial Protection Bureau (CFPB). If confirmed by the Senate, McKernan would replace Russell
Continue Reading Trump Nominates McKernan to Be CFPB Director
The Consumer Financial Protection Bureau (CFPB) said it plans to pursue rulemaking aimed at increasing the availability of deposited funds at banks and bringing larger non-bank personal lenders under the
Continue Reading CFPB Plans Personal Lender Oversight, Funds Access Rules
To get ahead of potential staffing and priority changes under the new administration, on Jan. 14, 2025, the Consumer Financial Protection Bureau (CFPB) issued guidance to state attorneys general and
Continue Reading CFPB Guidance and State Consumer Protection: 2025 Considerations