May 15, 2025 | Federal Regulation, News
CFPB Rescinds Nearly 70 Pieces of Guidance The Consumer Financial Protection Bureau (CFPB) recently withdrew 67 pieces of prior guidance, including those regarding overdraft fees, BNPL, fair lending, earned wage access programs, and more. Acting CFPB Director Russell...
May 13, 2025 | Federal Regulation, News
Trump Administration Withdraws McKernan’s CFPB Director Nomination, Instead Nominates Him for Senior Role at Treasury Jonathan McKernan, a former FDIC board member who President Trump nominated in February to lead the Consumer Financial Protection Bureau, has...
May 7, 2025 | Federal Regulation, News
CFPB Firings on Hold As Legal Battle Continues Last week, the U.S. Court of Appeals for the D.C. Circuit reinstated a district court order blocking the agency’s planned reductions in force while also blocking the Trump administration from trying to shift funding away...
May 1, 2025 | Federal Regulation, News
FDIC Looking To Reduce Staff By 1,250 An internal memo sent to staff last month at the Federal Deposit Insurance Corp. (FDIC) revealed that the agency is looking to reduce its staff by 1,250, a downsizing of 20 percent. The 1,250 figure includes roughly 500 employees...
Apr 23, 2025 | Federal Regulation, News
CFPB Attempts to Lay Off 90% of Staff, Although Judge Temporarily Halts Efforts For Now Last week, multiple outlets reported that the Consumer Financial Protection Bureau (CFPB) was planning to cut roughly 1,500 employees—or 90 percent of its staff—leaving only...
Apr 17, 2025 | Federal Regulation, News
CFPB Drops Enforcement of Nonbank Registry Last week, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement of a regulation creating a registry for nonbank financial companies that have broken consumer laws and have been...
