Despite massive attempted layoffs and cancellation of third-party vendor contracts, the Trump Administration did not and does not intend to shut down the CFPB, a Justice Department attorney told a federal appeals court on May16 in connection with oral arguments
Latest from Consumer Finance Monitor
Trigger Leads – Don’t Forget about the States
As Rich Andreano blogged on April 15, 2025, legislation to prohibit or restrict so-called “trigger leads” in the home-buying process has been reintroduced in the House and Senate. The legislation has broad industry and consumer group support.
While we await
CFPB rescinds 67 guidance documents
Contending that policies implemented by guidance represent an unfair regulatory burden and might be contrary to federal law, the CFPB is rescinding 67 guidance documents issued since the bureau began operating in 2011.
“In many instances, this guidance has adopted
Ballard Spahr’s Consumer Finance Monitor podcast ranks in top 25 in Million Podcasts’ top 25 among hundreds of financial services podcasts
We are very proud to report that podcast database service Million Podcasts has ranked Ballard Spahr’s Consumer Finance Monitor podcast in the top 25 among hundreds of financial services podcasts nationally. The service recently published a list of the top
Today’s podcast episode: Navigating State AG Investigations: A Playbook For Financial Services Companies
Today’s podcast show is a repurposed webinar that we produced on April 22nd, titled “Navigating State AG Investigations: A Playbook For Financial Services Companies.” State Attorneys General (AG) investigations can present significant challenges for businesses and legal practitioners. We offer
CFPB won’t make small business reporting rule a priority
The CFPB has announced it will not make enforcement of its rule requiring financial institutions to report their lending to women-owned, LGBTQI+-owned and minority-owned small businesses a priority.
“The bureau takes this step in the interest of focusing resources on
Trump Administration to withdraw McKernan’s nomination to serve as CFPB Director
President Trump will withdraw Jonathan McKernan’s nomination as CFPB Director, as he nominates him as the Treasury Department’s Undersecretary of Domestic Policy, the New York Times and Law360 reported.
When McKernan’s nomination was first announced on Friday, Trump Administration officials
Trump signs resolution nullifying CFPB overdraft rule
President Trump has signed a Congressional Review Act (CRA) resolution nullifying the CFPB’s controversial overdraft rule.
The rule was issued by the Biden Administration and had attracted opposition from Republicans on Capitol Hill and Trump Administration officials. House and Senate
Trump to nominate CFPB nominee to Treasury Department position
Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury.
The Senate Banking Committee approved McKernan’s nomination to head the CFPB
CFPB won’t prioritize BNPL enforcement
The CFPB will not make enforcement of its Buy Now, Pay Later rule a priority, according to a recent statement.
“The Bureau will instead keep its enforcement and supervision resources focused on pressing threats to consumers, particularly servicemen and veterans,”