A Brief Primer on Tariffs Under the Trump Administration
Consumer Finance Monitor Podcast Episode: The Impact of the Election on the CFPB: What to Expect on Key Regulatory Issues During Trump 2.0
The Congressional Review Act – A Critical Tool for the New Administration
Consumer Finance Monitor Podcast Episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services Industry
Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part II
On April 10, 2025, President Trump signed into law a measure1 that repeals the final regulations relating primarily to persons who are front-end service providers that operate decentralized finance (DeFi) platforms, which...more
On April 9, the House of Representatives passed two resolutions that it received from the Senate, overturning two CFPB rules from the Biden administration. The House considered S.J. Res. 18, disapproving the CFPB’s final rule...more
It has been a little over two months since President Donald Trump returned to office, and since then, the Consumer Financial Protection Bureau (CFPB) has been in flux—to put it mildly. As of this writing, it is unclear...more
Congress has approximately one month to use the Congressional Review Act (CRA) to undo qualifying Biden Administration-issued regulations. According to an updated analysis by Bloomberg Government, the estimated period to...more
On April 9, the House of Representatives passed two Congressional Review Act (CRA) joint resolutions aimed at nullifying certain Consumer Financial Protection Bureau (CFPB) rules finalized in the final days of the...more
Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more
The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more
The Republican-led Congress has invoked the Congressional Review Act (CRA) in attempts to revoke final rules that former CFPB Director Chopra issued toward the end of Biden’s Administration....more
This report provides an overview of major federal environmental regulations and court decisions of 2024. Landmark U.S. Supreme Court decisions with lasting consequences for environmental policy include Loper Bright...more
In a lengthy decision that highlighted the CFPB’s very public efforts to dismantle the CFPB from within, the District Court for the District of Columbia granted a motion for preliminary injunction designed to preserve the...more
Last month, bills were introduced in the House and Senate to overturn the much-maligned CFPB overdraft rule. You can find our previous write-up on the rule here. The rule would redefine “finance charge” under Regulation Z to...more
Just prior to the Federal Trade Commission’s (FTC or Commission) publication of its Click-to-Cancel Rule (the Rule) – which we wrote about in depth here – in the Federal Register, several trade associations filed petitions...more
The CFPB is facing pushback from the U.S. Senate over two final rules issued under the Biden administration: one expanding oversight of nonbank digital payment providers and another limiting the reporting of medical debt....more
On March 11, 2025, under the auspices of the Congressional Review Act (CRA), the U.S. House of Representatives approved a joint resolution (H.J. Res. 25) officially disapproving of recently finalized regulations that would...more
Using the Congressional Review Act, the Senate has voted to nullify a CFPB final rule that would subject large cash apps to the bureau’s supervision....more
On March 4, 2025, the U.S. Senate passed joint resolution S.J.Res.3, disapproving the DeFi broker reporting regulations Treasury finalized at the end of the Biden Administration. Senator Ted Cruz (R-TX) introduced the...more
On or about March 6, 2025, DC Act 25-625, “Comprehensive Electric Vehicle Infrastructure Access, Readiness, and Sustainability Amendment Act of 2024” will go into effect after the Congressional Review Period ends. The law...more
Both the House and Senate are in session this week. Last week, House Republicans were able to coalesce in dramatic fashion to pass a budget resolution that creates a process to combine President Trump’s tax policy and other...more
The Chairmen of the House and Senate committees with jurisdiction over banking issues have introduced Congressional Review Act resolutions to nullify the CFPB’s overdraft rule. House Financial Services Committee Chairman Rep....more
Much has been written about the Congressional Review Act (CRA), which Congress can use to repeal qualifying federal agency actions. The CRA was enacted as part of the Small Business Regulatory Enforcement Fairness Act of 1996...more
U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more
On February 19, 2025, President Donald Trump issued the executive order “Ensuring Lawful Governance and Implementing the President’s ‘Department of Government Efficiency’ Deregulatory Initiative” (the 2025 EO). The 2025 EO,...more
On February 18, 2025, President Trump signed an Executive Order designed to reduce the power of federal independent agencies by bringing them under the purview of the White House. The Executive Order provides that it applies...more
As we have highlighted previously (here and here), the Consumer Financial Protection Bureau (CFPB) has continued to undergo significant changes under the second Trump Administration. However, various interested parties have...more
On February 6, a judge for the United District Court for the Eastern District of Texas issued a 90-day stay on the CFPB’s final rule prohibiting the inclusion of medical debt in consumer credit reports, delaying the rule’s...more