Nonbank Financial

The Consumer Financial Protection Bureau dropped its appeal in a case in which PayPal Holdings, Inc., challenged a 2019 rule extending fee disclosure requirements for prepaid card products to digital wallets as well. Read on »

Another chapter was written in the ongoing legal saga concerning the embattled Consumer Financial Protection Bureau last week. Shortly after a federal court partially lifted a court order preventing mass firings at the bureau, the Trump administration resumed its plans to gut the agency, prompting the courts to intervene again. Read on »

The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions pursuant to its regulation requiring nonbank financial institutions caught violating the law to register with the bureau. Read on »

The U.S House passed two measures nullifying rules finalized by the Consumer Financial Protection Bureau under the Biden-Harris administration with strong support from Republicans. The resolutions of disapproval targeted the bureau’s rule capping overdraft fees and its larger participant rule, applying to large digital payment providers. Read on »

A litany of longstanding disagreements about how to increase accountability at the Consumer Financial Protection Bureau (CFPB) while still enabling it to carry out its statutory mission came to light during the House Financial Services Committee’s hearing titled, “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections.” Read on »

Western Alliance Bank reported a data breach involving a third-party vendor’s file transfer software, which exposed some customer personal information. The independent mortgage broker said although personal information was compromised, there is currently no evidence of fraud or identity theft resulting from the incident. Read on »

The Office of the Comptroller of the Currency granted conditional approval for a fintech firm to acquire CenTrust Bank, N.A. This marks the first time a fintech has acquired a bank charter since 2021. Acting Comptroller Rodney Hood shared his views on the acquisition during CBA LIVE 2025 in Orlando. Read on »

Rocket Companies and Redfin have agreed to an acquisition agreement valued at $1.75 billion. The two digital lending platform is aiming to offer a more efficient, streamlined experience for borrowers through its new strategic partnership with one of the country’s most recognizable online real estate brokerages. Read on »

The Consumer Financial Protection Bureau’s decision to drop its lawsuit against three of the nation’s largest financial institutions over alleged security deficiencies in the digital payment platform Zelle elicited cheers from industry advocates and jeers from consumer advocates. The dismissal comes as Republicans in Congress seek to repeal the bureau’s larger participant rule, which allows the agency to exercise its statutory authority to supervise nonbank financial institutions. Read on »

The Securities and Exchange Commission dismissed an enforcement action against Coinbase Inc. and Coinbase Global Inc. with prejudice, marking a shift in its approach to supervision of the cryptocurrency sector. Read on »