On June 27, 2025, the Consumer Financial Protection Bureau (CFPB) issued a policy statement that outlines its plan to address criminal regulatory offenses within its jurisdiction, as directed by the May 2025 Executive Order (EO) 14294. The CFPB notes that it will publish a report to include a list of “all criminal regulatory offenses enforceable by the Bureau or the Department of Justice,” along with …
Trump CFPB Asserts Narrower Role for State Enforcement of Federal Consumer Law
On May 15, 2025, the Consumer Financial Protection Bureau (CFPB) issued an interpretive rule that rescinded a Biden-era interpretive rule regarding the extent of states’ enforcement authority under Section 1042 of the Consumer Financial Protection Act (CFPA). While states may continue to bring actions to enforce provisions of the CFPA, the new interpretive rule suggests that states may not bring actions arising under any enumerated …
Executive Order Seeks to Eliminate Federal Deployment of Disparate Impact Theory of Discrimination
The Trump administration issued an executive order declaring that federal agencies are to discontinue use of disparate impact liability to administer antidiscrimination statutes. The executive order directs agencies to conduct a review of regulations and other guidance that contemplate disparate impact liability. Notably, the directive applies across the entire government – meaning that this order will significantly impact litigation, compliance and enforcement priorities for federal …
Slimmed-Down CFPB to Focus on Bank Oversight, Concrete Consumer Harm
On April 16, 2025, the Consumer Financial Protection Bureau (CFPB) sent an internal memorandum to CFPB staff describing its 2025 supervisory and enforcement priorities. The memo previewed a reduction in overall supervision and enforcement, but also a shift in focus toward depositories and on obtaining remediation for definable consumer losses. Contrary to the Biden CFPB’s focus on working with the states, the memo notes that …