McKernan vote expected by May; CFPB reconsiders registration requirements for nonbanks; CFPB’s planned refund of Townstone settlement in limbo.

The injunction is in place until the court resolves the lawsuit brought by the NTEU. The Trump administration appealed the order.

Bureau officials who voluntarily resigned recently include Mark McArdle, assistant director of mortgage markets, and Gabriel O’Malley, deputy enforcement director for policy and strategy.

New CFPB leadership said the bureau’s investigation into Townstone was not prompted by any actual harm, but by quota-style statistics.

A decision is expected no later than April 1, regarding a potential preliminary injunction that would prevent future mass terminations.

A series of bills proposed by Republicans in Congress would dramatically change how the CFPB operates.

The October 2023 final rule provided several major updates to the Community Reinvestment Act, but the rule’s implementation has been stalled due to a lawsuit by trade groups representing banks.

California’s new climate-disclosure reporting requirements are set to take effect next year and will change reporting standards for covered entities. The MBA is seeking some changes to the standards.

The American Fintech Council asked Acting CFPB Director Russell Vought to start making changes.

The Supreme Court is considering whether a federal court can certify a class action when some of the class members are uninjured. MBA said the question is timely as class actions from private plaintiffs are expected to increase.