The Consumer Financial Protection Bureau (CFPB) finalized its long‑awaited rule implementing Section 1071 of the Dodd‑Frank Act, a rulemaking designed to address funding gaps facing women-owned, minority-owned and small businesses by requiring data collection and reporting on loan applications. Although the final rule is significantly narrower than the final rule published during the Biden administration (2023 rule), it nonetheless establishes a federal data collection and …
CFPB Finalizes Significant Changes to Regulation B
On April 22, 2026, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a final rule amending Regulation B, the regulation implementing the Equal Credit Opportunity Act (ECOA). The final rule is largely unchanged from the CFPB’s notice of proposed rulemaking issued in November 2025. Effective July 21, 2026, the final rule: Expressly eliminates the “effects test,” commonly referred to as disparate impact. …
CFPB Adds Disclosures to Consumer Complaint Portal
The Consumer Financial Protection Bureau (CFPB) recently added two new disclosures and an attestation requirement to the CFPB portal through which consumers may submit complaints about a financial product or service. The recent additions are under the heading “Credit and consumer reporting complaint notice” and appear to be limited to complaints against consumer reporting agencies (CRAs) regarding inaccurate or incomplete information on a consumer report. …
Reports Suggest CFPB Plans Full Notice-and-Comment Rulemaking for Open Banking Rewrite
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 …
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 …
BNPL Market Remains Strong, Per CFPB Report
The Consumer Financial Protection Bureau (CFPB) released a data spotlight on the buy now, pay later (BNPL) market. Using data about the BNPL market for the years 2022 and 2023 from six large BNPL providers, the report describes trends and figures in BNPL market growth, borrower usage, late fees and charge‑offs. While there are different versions of the BNPL product, the report focuses on four-installment, …