Appeals Court Clears Way for Colorado to Enforce Interest Rate Caps on Out-of-State Loans
Appeals Court Clears Way for Colorado to Enforce Interest Rate Caps on Out-of-State Loans Last week, Colorado secured a major legal victory allowing the state to enforce its 36 percent interest rate cap on consumer loans made to residents, even when those loans...
Trump Administration Says CFPB May No Longer Legally Request Funds from Federal Reserve, Setting Tentative Shutdown Date of Early 2026
Trump Administration Says CFPB May No Longer Legally Request Funds from Federal Reserve, Setting Tentative Shutdown Date of Early 2026 The Trump administration has officially determined that the Consumer Financial Protection Bureau (CFPB)’s current funding mechanism...
Federal Reserve Reducing Bank Supervision Staff By 30 Percent
Federal Reserve Reducing Bank Supervision Staff By 30 Percent The Federal Reserve is planning to reduce its banking supervision staff by 30 percent by the end of next year, which would cut the supervision and regulation division from a previous authorized staff count...
CFPB Rescinds Nonbank Registry Rule
CFPB Rescinds Nonbank Registry Rule The Consumer Financial Protection Bureau (CFPB) is rescinding two rules finalized during the Biden administration, including the nonbank registry rule, which required nonbanks to register and report violations of both local and...
Government Shutdown Puts Senate Consideration of Clarity Act on Hold
Government Shutdown Puts Senate Consideration of Clarity Act on Hold With the U.S. Senate currently focused on issues surrounding the government shutdown, it is running out of time to consider bills related to the regulation of the crypto market. For example, the...
Comptroller Gould Outlines Plans for “Regulatory Reset”
Comptroller Gould Outlines Plans for “Regulatory Reset” Comptroller of the Currency Jonathan Gould stated earlier this week at the American Bankers Association annual conference that the best thing he could do for the Office of the Comptroller of the... WH Budget Director Signals Attempts to Shutter CFPB For Good in Coming Months
WH Budget Director Signals Attempts to Shutter CFPB For Good in Coming Months Russell Vought, the White House Budget Director, recently said in a podcast that he intends to close the Consumer Financial Protection Bureau (CFPB) within the next three months. The Trump...
McKernan Confirmed as Treasury Undersecretary
McKernan Confirmed as Treasury Undersecretary Last week, Jonathan McKernan, former Federal Deposit Insurance Corp. (FDIC) board member, was confirmed by the U.S. Senate to be the undersecretary for domestic finance at the Treasury Department. He was confirmed on a...
