The Consumer Financial Protection Bureau (CFPB) said Friday (May 9) that it is withdrawing 67 guidance documents issued by the agency since it opened its doors in 2011. CFPB Acting Director Russell T. Vought announced the withdrawal of the policy statements, interpretive rules, advisory opinions and other...
The Consumer Financial Protection Bureau (CFPB) has abruptly abandoned its effort to supervise Google Payment, unraveling a marquee Biden-era bid to extend the agency’s reach into Silicon Valley and lifting a potential compliance burden from parent company Alphabet. The policy U-turn surfaced in a Wednesday...
Three financial regulators are scrambling following the President Donald Trump administration’s latest round of personnel cuts. Over 2,300 staffers across the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency and the Securities and Exchange Commission are set to be laid off,...
The pay later economy got a big boost late in the day Tuesday (May 6) when the Consumer Financial Protection Bureau (CFPB) announced in a terse, one-paragraph press release that it will rescind the bureau’s earlier proposal to treat buy now, pay later (BNPL) companies...
March 31, 2025
The on-again, off-again saga of the Consumer Financial Protection Bureau (CFPB) continues. The Trump administration on Saturday (March 29) filed a claim in the U.S. Court of Appeals asking it to weigh in on a decision issued Friday that seemingly gave the agency a new lease on life after a series of efforts to dismantle […]
March 17, 2025
By the standards set previously in Q1, this Monday wasn’t as manic as most. In fact there’s an element of “business as usual” in this installment of the Washington Weekly...
March 03, 2025
If you’re tracking the mania in Washington, D.C., from a financial services perspective these days, you might notice that it’s starting to resemble a weather forecast. Last week was partly...
February 27, 2025
Jonathan McKernan, appearing before the Senate Banking Committee during a hearing on his nomination to lead the Consumer Financial Protection Bureau, told lawmakers Thursday (Feb 26), “All too often, …...
May 09, 2025
Former Federal Deposit Insurance Corp. (FDIC) Board Member Jonathan McKernan will be nominated to serve in a post at the Treasury Department after previously being nominated to lead the Consumer Financial Protection Bureau (CFPB). Treasury Secretary Scott Bessent said in a Friday (May 9) press release that President Donald Trump intends to nominate McKernan to serve as the undersecretary of domestic finance at […]
May 09, 2025
The Consumer Financial Protection Bureau (CFPB) said Friday (May 9) that it is withdrawing 67 guidance documents issued by the agency since it opened its doors in 2011. CFPB Acting Director Russell...
May 08, 2025
The Consumer Financial Protection Bureau (CFPB) has abruptly abandoned its effort to supervise Google Payment, unraveling a marquee Biden-era bid to extend the agency’s reach into Silicon Valley and lifting...
May 07, 2025
Three financial regulators are scrambling following the President Donald Trump administration’s latest round of personnel cuts. Over 2,300 staffers across the Federal Deposit Insurance Corp., the Office of the Comptroller...
