On April 11, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervisory actions against nonbank entities that miss upcoming registration deadlines under its Nonbank Registration Rule. These deadlines, including those scheduled for April 14 and July 14, 2025, were part of the Bureau's initiative to establish a public registry of nonbanks subject to federal, state, or local agency or court orders based on violations of consumer financial laws.
The Bureau indicated that this shift allows it to focus on "more pressing threats to consumers" and hinted at the possibility of issuing a new proposed rule that would rescind or scale back the registry requirement altogether.
This marks a significant turn from the CFPB's 2024 rulemaking, which sought to deter repeat corporate offenders and increase transparency regarding nonbank entities with a history of consumer protection violations. The decision provides relief to small loan providers and other nonbank financial firms that had been preparing for the registration requirement.
