Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On Friday, April 11, the D.C. Circuit issued a per...more
On Friday, March 28, U.S. District Judge Amy Berman Jackson took the “extraordinary step” of broadly enjoining the newly installed leadership of the CFPB from “eliminat[ing] the agency before the Court has the opportunity to...more
Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On February 8, the Consumer Financial Protection...more
On February 18, 2025, the Trump Administration issued a new Executive Order, entitled “Ensuring Accountability for All Agencies,” that seeks to increase presidential oversight and control of independent regulatory agencies. ...more
2/24/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Department of Justice (DOJ) ,
Executive Orders ,
Federal Trade Commission (FTC) ,
Financial Services Industry ,
Government Agencies ,
OIRA ,
Regulatory Oversight ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Trump Administration
On February 11, the White House announced Jonathan McKernan’s nomination as Director of the Consumer Financial Protection Bureau (CFPB). McKernan was previously confirmed to the Board of the FDIC by the Senate on a voice...more
2/14/2025
/ Administrative Appointments ,
Consumer Financial Protection Bureau (CFPB) ,
Diversity and Inclusion Standards (D&I) ,
FDIC ,
Financial Institutions ,
Financial Regulatory Reform ,
FinTech ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
Transparency ,
Trump Administration
Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape. On February 11, the White House announced the...more
On Saturday, February 1, Rohit Chopra was dismissed as Director of the Consumer Financial Protection Bureau (CFPB), with Secretary Scott Bessent appointed as Acting Director that same day. The following weekend, Office of...more
On Saturday, February 1, Rohit Chopra was dismissed as Director of the Consumer Financial Protection Bureau (CFPB), with Secretary Scott Bessent appointed as Acting Director that same day. The following weekend, Office of...more
On Friday, January 10, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule that could significantly broaden the scope of the Electronic Fund Transfer Act (EFTA) to encompass a wide range of digital...more
The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and digital wallets. Continuing to lean into its plans to expand its authority to...more
The Trump Administration promises a new landscape for financial institutions and fintechs. Orrick’s John Coleman, Amanda Lawrence, Jeff Naimon and Katy Ryan spoke about how to plan and operate in the coming months....more
Orrick Partner John Coleman joins the RegFi podcast for a conversation about what lies ahead for the CFPB’s finalized 1033 rule, including uncertainties created by litigation challenges, election results and the need for...more
The Consumer Financial Protection Bureau (CFPB) has issued a final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA), which addresses personal financial data rights. The final rule mandates that...more
In this episode of RegFi, hosts Jerry Buckley and Sasha Leonhardt welcome John Coleman, Orrick partner and former Deputy General Counsel of the CFPB, to discuss the Supreme Court’s Loper Bright decision overturning Chevron...more
On April 24, the CFPB issued a press release entitled “CFPB Takes Action to Stop Illegal Junk Fees in Mortgage Servicing,” which touts its latest Supervisory Highlights report on mortgage servicing....more
In our latest look at the CFPB’s expanding supervisory authority of fintechs and other non-bank financial service providers, RegFi cohosts Jerry Buckley and Sasha Leonhardt welcome fellow Orrick partner — and former deputy...more
In its latest contribution to the Biden Administration’s campaign against “junk fees,” the CFPB has finalized a rule to limit credit card late fees.
The rule slashes the late fee that larger issuers can charge under a...more
The CFPB recently published a decision and order subjecting a nonbank consumer lender to its supervisory authority based on its determination that the lender may be “engaging, or has engaged, in conduct that poses risks to...more
The CFPB has proposed a long-anticipated rule targeting overdraft fees. Billed as part of its effort to rein in “junk fees,” the proposal could have a significant effect on the nature and availability of overdraft protection...more
The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking this week that seeks to expand its authority to supervise and examine providers of digital wallets and payment applications....more
After over a decade of discussion regarding how best to balance the complex set of policy interests, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to implement section 1033 of the...more
The Federal Trade Commission (FTC) has released a notice of proposed rulemaking meant to prohibit unfair or deceptive fees, often referred to as junk fees. The proposed rule would prohibit...more
Since opening its doors in July 2011, the Consumer Financial Protection Bureau (CFPB) has not been shy about initiating enforcement actions against companies and individuals subject to its authority, recovering billions of...more
The Consumer Financial Protection Bureau (CFPB) warned financial institutions this week about the risks of using AI-powered chatbots to communicate with consumers. The Bureau advised financial institutions to “consider the...more
Heartburn, schadenfreude, existential dread – reading an enforcement action issued by one of your regulators can evoke these reactions even when your company wasn't the target. You may recognize similarities between your...more