CFPB

President Donald Trump has nominated Brian Johnson to serve as the permanent director of the Consumer Financial Protection Bureau for a five-year term. Johnson spent more than two years in senior leadership roles at the bureau during Trump’s first term before leaving for the private sector. Read on »

The Financial Crimes Enforcement Network, federal banking agencies and the Consumer Financial Protection Bureau issued advisories for financial services providers related to immigration. These were issued in response to President Donald Trump’s executive order on the matter. Read on »

Eighteen months into the Trump administration’s mission to scale back the Consumer Financial Protection Bureau’s footprint on the financial markets, the clash between federal officials and their most outspoken critics has not eased up. Read on »

A quartet of advocacy groups is suing the Consumer Financial Protection Bureau over its final rule amending Regulation B, the implementing regulation of the Equal Credit Opportunity Act. The plaintiffs argued that the final rule exceeds the bureau’s statutory authority and relies on “conclusory assertions and speculation.” Read on »

Federal regulators may soon push for lenders to strengthen protocols for verifying a loan applicant’s immigration status, following an executive order (EO) issued by President Donald Trump on May 19. Dodd Frank Update spoke with a pair of former regulators about the impact the EO could have on lenders, given the many precautions financial institutions already take to mitigate potential risks associated with lending to noncitizens. Read on »

With federal agencies rolling back rules and guidance that governed fair lending compliance while states are ramping up regulation and enforcement in the fair lending space, calibrating compliance risk mitigation strategies accordingly is a daunting task. A panel of fair lending experts recently discussed the rapidly shifting compliance priorities. Read on »

Just when the Consumer Financial Protection Bureau seemed to be finding something tantamount to stable footing, the agency’s future under the Trump administration is once again in question via challenges in the form of a federal court appeal and Congressional resolutions of disapproval. Read on »

As federal oversight pulls back, banks and mortgage lenders face a more scattered compliance landscape shaped by state regulators and attorneys general (AGs) working to pick up the pieces. Read on »

The Consumer Financial Protection Bureau released a final rule implementing small business lending requirements outlined under Sec. 1071 of the Dodd-Frank Act. The scope of the final rule is significantly narrower than the previous version finalized in March 2023 and leaves open the possibility for future amendments. Read on »

The Consumer Financial Protection Bureau’s (CFPB) final rule revising Regulation B has raised many questions and concerns since its publication. Former CFPB Senior Counsel David Friend, owner of Friend Mortgage Consulting, shared with Dodd Frank Update his thoughts on the rule.  Read on »