Title XI

The Consumer Financial Protection Bureau issued an interim final rule extending the compliance deadlines for the small-business lending rule, which was finalized in March 2023. The extension was mandated by a Texas federal court to account for the period the rule was stayed pending a potentially impactful Supreme Court decision. Read on »

In an effort to facilitate proactive and transparent dialogue about topics affecting the financial marketplace, the Consumer Financial Protection Bureau (CFPB) will be hosting a symposia series featuring panels made up of an assortment of industry stakeholders.  

The series is conceived as a means to help the CFPB with its policy development process, including possible future rulemakings.

Find out more details about the series.

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Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger has been chosen to serve a two-year term as chairwoman of the Federal Financial Institutions Examination Council (FFIEC).

The FFIEC chairmanship rotates among the prudential regulators and the CFPB every two years along a set schedule, affording Kraninger the opportunity to become the first CFPB director to chair the council despite only being three months into her five-year term leading the bureau.

Read on to get more details about Kraninger’s appointment.

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The National Credit Union Administration (NCUA) has named Matthew Biliouris as the agency’s new director of its Office of Consumer Financial Protection.

Biliouris, who became the office’s deputy director in July 2013, has served as its acting director since Gail Laster vacated the post in October 2017 after nearly five years in the role.

Find out more about the experience Biliouris brings to the role.

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Two days after announcing it would re-evaluate its payday lending final rule, the Consumer Financial Protection Bureau dropped a lawsuit against online companies owned by the Habematolel Pomo of Upper Lake (HPUL) tribe. The bureau’s allegations centered on the companies’ practices involving short-term, small-dollar loans.

HPUL Chairperson Sherry Treppa called the bureau’s decision to drop the suit a victory for her tribe and for tribal sovereignty rights.

Read on to find out more details about the case. 

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The Independent Community Bankers of America recently submitted a petition to the Senate Banking Committee urging committee leaders to take action on recommendations outlined in its “Plan for Prosperity” regulatory relief platform.

Thousands of community bank employees and advocates signed the petition, including members of numerous state banking associations across the country.

Read on to find out what points the association made regarding its advocacy platform and how much support it has garnered. 

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The Mortgage Bankers Association recently released a whitepaper, entitled “CFPB 2.0: Advancing Consumer Protection,” which examines the Consumer Financial Protection Bureau’s approach to enforcement and supervision, and offers recommendations for how the bureau could better fulfill its mission in moving forward.

The paper analyzes the bureau’s actions that have been out of step with what other regulatory bodies have done and that may not be in line with what is best for the financial industry, in the eyes of mortgage lenders.   

Get an overview of some of the core concepts outlined in the whitepaper. 

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In response to a guidance the Federal Reserve issued in early November, Visa announced that it will halt steering practices through which the company turns consumers toward its network on point-of-sale terminals using EMV technology. The Federal Reserve stated that such steering practices violate merchants’ right to competition. Read on to learn more about the lead up to Visa’s decision. Read on »

Federally insured institutions will have an additional five years to begin providing exact disclosures for international money transfers in certain cases under a rule finalized Aug. 22 by the Consumer Financial Protection Bureau. Read on to learn about the bureau’s latest remittance rule revisions. Read on »

Hailed by some, vilified by others, the Dodd-Frank Act turns two on July 21. In a three-part series, Dodd Frank Update takes an in-depth look at the act, where we’ve been and where we’re going. Read on to learn about regulators’ early efforts to implement key provisions of the act, including the creation of the Consumer Financial Protection Bureau. Read on »