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Vought Backs Legislative Changes to CFPB

July 16, 2026
Shannon Clark
In his first appearance before Congress as CFPB acting director, Russell Vought argued that changes to the CFPB were necessary as the bureau was “out-of-control.”
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Fed Plans New CRA Rule, FDIC and OCC May Sit Out

July 16, 2026
Shannon Clark
The Federal Reserve is poised to issue a final rule adjusting requirements under the Community Reinvestment Act. It’s unclear if the Fed’s final rule will be issued jointly with the OCC and FDIC.
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House Committee Advances Bill Favoring Credit Resellers

July 13, 2026
Shannon Clark
If enacted, the Fair Credit Reporting Reseller Accuracy Act would ensure that credit report resellers report data to the “maximum accuracy possible.” The bill has bipartisan support.
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Warren Questions Johnson’s Role in Dropped Capital One Lawsuit

July 13, 2026
Shannon Clark
Sen. Elizabeth Warren, D-MA, wants to know whether Brian Johnson, CFPB director nominee and an executive at Capital One, had a role in the bureau’s decision last year to drop its lawsuit against the bank.
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Illinois Enacts Broad BNPL Regulation

July 13, 2026
Shannon Clark
The regulation goes beyond subjecting traditional buy now, pay later lenders to underwriting requirements.
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Bill Would Simplify TILA-RESPA Requirements

July 13, 2026
Dennis Hollier
Sen. Scott Fitzgerald, R-WI, introduced a bill with TRID amendments as part of his plan to increase the supply of housing.
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California’s Nonbank CRA Effort Shifts to Fair Housing

July 13, 2026
Abby Zimmardi
California lawmakers are moving away from an effort to impose Community Reinvestment Act requirements on nonbanks.
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CFPB Complaint Portal Changes Ruffle Consumer Advocates

July 13, 2026
Shannon Clark
Two-factor authentication is one of the new requirements for consumers to be able to submit complaints with the CFPB; will consumers go through the trouble?
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CashCall Seeks Dismissal of $134M CFPB Penalty

July 13, 2026
Shannon Clark
The company filed a motion for relief in its lawsuit with the CFPB, after the bureau allegedly pulled out of a deal to vacate civil money penalty applied to CashCall.
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Other News in Brief

July 13, 2026
Shannon Clark
Court pauses proceedings in CFPB-NTEU lawsuit; CFPB seeks feedback on changes to mortgage disclosures; the bureau may revisit its credit card late fee regulation.
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