CFPB – Regulatory Report

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[ April 30, 2025 ] Regulator closes small New Jersey credit union with ‘no prospect for restoring viable operations’ NCUA
[ April 30, 2025 ] Three former credit union workers prohibited in April, agency reports NCUA
[ April 29, 2025 ] NCUA Board now lacks a quorum, according to suit by Harper, Otsuka challenging their firings from board NCUA
[ April 29, 2025 ] Acting OCC leader sees AI as powerful, links its use to financial inclusion efforts OCC
[ April 28, 2025 ] NCUA to discuss ‘voluntary separation programs’ at May 22 board meeting NCUA

Judge blocks firing of 90% of CFPB staff, at least for now, as she studies whether action violates previous order

April 18, 2025 0

A federal judge blocked the Trump administration’s plan to fire approximately 1,500 staff – about 90% — at the federal consumer financial protection agency Friday, saying she was considering whether the action violated a previous […]

Nonbanks subject to bureau’s registration rule unlikely to face enforcement actions as bureau contemplates rule changes or rescission

April 11, 2025 0

The federal agency charged with financial consumer protection says it “will not prioritize” enforcement or supervision actions focused on nonbanks that miss the agency’s deadlines for registering with the bureau when they become subject to […]

Bureau follows law, makes 2024 loan level data under HMDA available

March 31, 2025 0

Loan-level information for 2024 filed by banks but edited to protect consumer privacy was released Monday by the federal consumer financial protection agency, as required by law. The data, collected under the Home Mortgage Disclosure […]

CFPB ‘will not prioritize’ enforcement, supervision of payday rule penalty limits

March 28, 2025 0

Penalties or fines related to the payment withdrawal and payment disclosure provisions of the agency ‘s 2017 payday rule will not be an enforcement or supervision priority of the Consumer Financial Protection Bureau (CFPB) beginning […]

Bureau moves to vacate settlement over ‘redlining’ against small firm

March 28, 2025 0

Calling it a “harassment saga,” the consumer financial protection agency moved March 26 to vacate a 2024 settlement reached between it and a firm it previously alleged had violated the Equal Credit Opportunity Act and […]

Trump, in executive order, asserts control over all agencies, including ‘so-called independent’ ones

February 19, 2025 0

The heads of federal agencies and departments can expect to see guidance from the Office of Management and Budget (OMB) in the near future on implementation of a new executive order that seeks to ensure […]

Trump’s 10-for-1 deregulation order specifies executive agencies, though others may fall in line

February 5, 2025 0

An executive order issued last week by President Donald J. Trump (R) requires executive departments and agencies to identify at least 10 existing rules to be repealed for every new one they propose, though it […]

Another freeze on regulations ordered by Trump, pending rule review by his appointees

January 21, 2025 0

No new rules – “in any manner” – may be proposed or adopted by federal regulators, including those overseeing financial institutions until those rules are reviewed and approved by an agency head appointed or designated […]

Jonathan McKernan, recently resigned from FDIC, is nominated to head CFPB

February 12, 2025 0

One day after he posted on a social media site that he had resigned his post from one agency board, Jonathan McKernan was nominated by President Donald Trump (R) to a five-year term as head […]

Reports: CFPB’s newest acting director shutters HQ for a week; employees union sues

February 10, 2025 0

As an employees union pursues a lawsuit against Consumer Financial Protection Bureau (CFPB) leadership over an ordered halt to enforcement work and a one-week closure of its headquarters, the agency’s website, despite scattered reports to […]

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Regulator closes small New Jersey credit union with ‘no prospect for restoring viable operations’

April 30, 2025 0

A small New Jersey credit union was liquidated Wednesday by the federal credit union regulator after the agency said it had found the cooperative to be insolvent. The National Credit Union Administration (NCUA) said it liquidated Unilever Federal Credit Union [...]
Three former credit union workers prohibited in April, agency reports

April 30, 2025 0

Three former credit union workers were prohibited in April from further work in federally insured financial institutions, the federal regulator announced Wednesday. The National Credit Union Administration (NCUA) said the three individuals were: Anh-Thu Nguyen, a former worker of Goldenwest [...]
NCUA Board now lacks a quorum, according to suit by Harper, Otsuka challenging their firings from board

April 29, 2025 0

A lawsuit filed Monday by the two Democrats fired recently from their board posts at the National Credit Union Administration (NCUA) seeks their reinstatement and asserts that with its two vacancies, the NCUA Board now lacks the quorum required to [...]
Acting OCC leader sees AI as powerful, links its use to financial inclusion efforts

April 29, 2025 0

Calling artificial intelligence (AI) a “powerful technology,” the regulator of national banks said Tuesday it can be used to help banks make more informed decisions – but only if it is built and used responsibly, such as in supporting financial [...]