CA Gov. Newsom Taps Rohit Chopra to Lead California Consumer Protection Super-Agency
CA Gov. Newsom Taps Rohit Chopra to Lead California Consumer Protection Super-Agency California Gov. Gavin Newsom has appointed former CFPB Director Rohit Chopra to serve as the first secretary of the state’s newly created Business and Consumer Services Agency (BCSA),...
CFPB Finalizes Narrowed Small-Business Lending Data Rule
CFPB Finalizes Narrowed Small-Business Lending Data Rule The Consumer Financial Protection Bureau (CFPB) finalized a scaled-back version of its long-delayed Section 1071 small business lending rule last week, significantly reducing the number of lenders covered and...
Fed Chair Nominee Kevin Warsh Clears Senate Banking Committee After Sen. Tillis Drops Opposition
Fed Chair Nominee Kevin Warsh Clears Senate Banking Committee After Sen. Tillis Drops Opposition Kevin Warsh, President Trump’s nominee to chair the Federal Reserve, advanced out of the Senate Banking Committee today on a party line 13-11 vote, putting him on a clear...
Trump Administration Ends CFPB Headquarters Lease
Trump Administration Ends CFPB Headquarters Lease The Office of the Comptroller of the Currency has terminated the lease for the Consumer Financial Protection Bureau’s Washington, D.C. headquarters, transferring the property to the General Services Administration and...
FDIC and OCC Finalize Rule Eliminating “Reputation Risk” from Bank Supervision
FDIC and OCC Finalize Rule Eliminating “Reputation Risk” from Bank Supervision The Federal Deposit Insurance Corporation (FDIC) and Office of the Comptroller of the Currency (OCC) have issued a joint final rule removing “reputation risk” as a factor in bank...
CFPB Proposes Major Workforce Reduction Amid Ongoing Legal Fight
CFPB Proposes Major Workforce Reduction Amid Ongoing Legal Fight The Consumer Financial Protection Bureau (CFPB) has outlined a plan to cut more than half of its workforce as part of an ongoing legal battle over the agency’s future. In court filings, the CFPB said it...
Lawmakers Introduce Bipartisan Bill Targeting Credit Repair Scams
Lawmakers Introduce Bipartisan Bill Targeting Credit Repair Scams Sens. Chris Coons (D-Del.) and Lisa Murkowski (R-Alaska) recently introduced bipartisan legislation aimed at cracking down on fraudulent credit repair practices that exploit financially vulnerable...
FDIC Signals Potential Guardrails for Banks Using Public Blockchains
FDIC Signals Potential Guardrails for Banks Using Public Blockchains The Federal Deposit Insurance Corporation (FDIC) is considering new guardrails for how banks engage with public, permissionless blockchains, signaling a shift toward a more structured regulatory... Judge Orders CFPB to Continue Requesting Federal Reserve Funding
Judge Orders CFPB to Continue Requesting Federal Reserve Funding A federal judge in California ruled that the Consumer Financial Protection Bureau (CFPB) unlawfully refused to request funding from the Federal Reserve, delivering another legal setback to Trump...
