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Fed OIG downgrades CFPB cybersecurity assessment to second-lowest level
Failure to maintain ATOs and lack of documentation key factors in decision.
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ABA President Rob Nichols outlines upcoming change for compliance regulation
Significant actions to rein in US banking regulation are underway, driven by the Trump administration with aims to spur lending and economic growth.
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GRIP Extra: Appeals court clears CFPB takedown, CFTC reviews internal time and attendance compliance
Our in-brief roundup of notable stories from the last week.
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New York AG sues Zelle parent for antifraud deficiencies
Alleging $1 billion in money lost to scams, New York takes up the mantle of a weakened Consumer Finance Protection Bureau.
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CFPB tables proposals for debt collectors, credit-reporting agencies, auto financers
All of these proposed rulemakings would alter the CFPB’s supervisory authority over nonbank entities operating in each of these markets.
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Trump issues executive order targeting debanking
The order, mandates a crackdown on "debanking" and ends the use of reputational risk in regulatory oversight.
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CFPB to rewrite Open Banking Rule
The rule was received enthusiastically by fintechs but faced resistance from some traditional banking institutions.
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CFPB backs down on state notification rule for CFPA action
Move follows significant public pushback and concerns over weakening regulatory coordination.