Reportedly, the Consumer Financial Protection Bureau (CFPB) now plans to pursue a notice‑and‑comment rulemaking process for its rewrite of the Biden‑era open banking rule, marking a shift from prior indications that the CFPB would issue an interim final rule. In December 2025, reports suggested that the Section 1033 open banking rulemaking might be advanced through an interim final rule ahead of the CFPB’s expected funding …
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NYSE Announces Development of Tokenized Securities Trading Platform
On January 19, 2026, the New York Stock Exchange (NYSE) announced the development of a new platform for trading tokenized securities. The new platform will, subject to necessary regulatory approvals, enable companies to issue digital tokens representing securities. It will provide 24/7 trading, instant settlement via blockchain infrastructure, and the ability to fund transactions using stablecoins. The NYSE is touting the planned platform as an …
Executive Order Seeks to Limit Large Institutional Investors From Purchasing Single-Family Homes
On January 20, 2026, the Trump administration issued an executive order to limit the purchase of single-family homes by Wall Street investors. Declaring it the administration’s policy that “large institutional investors should not buy single-family homes that could otherwise be purchased by families,” the executive order aims to “preserve the supply of single-family homes for American families and increase the paths to homeownership.” While the …
California DFPI Seeks Comment on Potential Registration Requirement for Reporting Agencies
On January 12, 2026, the California Department of Financial Protection and Innovation (DFPI) issued an invitation for comments on a proposed rulemaking concerning registration and reporting for consumer-reporting providers. Background In 2024, the DFPI finalized registration and reporting requirements under the California Consumer Financial Protection Law (CCFPL) for four categories of providers of financial products and services. These regulations, effective February 15, 2025, require providers …
CFPB and DOJ Withdraw 2023 Statement on ECOA and Noncitizen Borrowers
On January 12, 2026, the Consumer Financial Protection Bureau (CFPB) and the Department of Justice (DOJ) formally withdrew their October 2023 joint statement addressing creditors’ consideration of immigration status under the Equal Credit Opportunity Act (ECOA) and its implementing Regulation B. The withdrawal is another explicit renunciation of the previous administration’s policies applicable to financial services, though the agencies were clear that withdrawal of the …
CFPB Submits to Court Order, Seeks New Funding
On January 9, 2026, the Consumer Financial Protection Bureau (CFPB) requested $145 million in new funding from the Federal Reserve. This development follows a ruling by the US District Court for the District of Columbia that the CFPB’s refusal to request additional funding from the Federal Reserve would violate the preliminary injunction in National Treasury Employees Union, et al. v. Russell Vought. The ruling, therefore, essentially required …
Judge Rules CFPB’s Refusal to Request Funding Violates Preliminary Injunction
In a case deciding the fate of the Consumer Financial Protection Bureau (CFPB), National Treasury Employees Union, et al. v. Russell Vought, the US District Court for the District of Columbia declared that the CFPB’s refusal to request funding violates the existing preliminary injunction. The December 30, 2025, ruling effectively requires the CFPB to request funding from the Federal Reserve – a move the CFPB has …
CFPB Advisory Opinion Analyzes Whether EWA Is Credit Under TILA and Regulation Z
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion (AO), rescinding its 2024 proposed interpretive rule and clarifying the regulatory treatment of certain earned wage access (EWA) services. In the AO, the CFPB analyzes whether nonrecourse EWA services are subject to the Truth in Lending Act (TILA) and its implementing Regulation Z and confirms that certain employer-partnered EWA services are not “credit” under that …
Key Fair Lending Updates From the Fed’s 2025 Interagency Webinar
On December 16, the Federal Reserve (Fed) hosted its annual Fair Lending Interagency Webinar, during which it, the National Credit Union Administration (NCUA) and the Consumer Financial Protection Bureau (CFPB) offered insight into their fair lending programs. The Fed highlighted its risk-focused approach to fair lending supervision, emphasizing the importance of tailored risk assessments, recurring training and robust monitoring of discretionary lending practices. Examiners continue …
Showdown: New Executive Order Puts Federal Government and States on a Collision Course Over AI Regulation
Last week, the White House issued a new executive order (EO) seeking to limit states’ regulation of artificial intelligence (AI) and instead create a uniform national AI policy. The EO does not preempt state AI laws, but it mobilizes federal agencies to take actions that may curtail state efforts to enforce their laws and regulate AI. The EO directs the Justice Department to create a …