The new preliminary injunction allows for the Trump administration to fire CFPB employees and issue a reduction-in-force to employees, as long as the administration abides by certain provisions.

An appeals court judge appeared to favor of authorizing a limited preliminary injunction against the Trump administration in a lawsuit brought by the National Treasury Employees Union.

Republicans in the House urged the CFPB to rescind Biden-era guidance documents, interpretive rules, advisory opinions and circulars that weren’t issued pursuant to the Administrative Procedure Act.

Following years of legal action that have stalled the implementation of the bureau’s original Section 1071 rule, the CFPB announced that it will roll out a new version of the rule.

Jonathan McKernan, nominee for CFPB director, said he thought former CFPB Director Rohit Chopra was “on to something” by focusing on data collection issues.

Proposed in January, the rule would ban the use of certain terms in contracts for consumer financial products or services that limit the rights of consumers.

A judge granted the bureau’s request to withdraw from the 2022 lawsuit, but the case will move forward.

The consumer reporting agency asserted that some of the claims in the lawsuit exceeded their statutes of limitation.

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

The order retains the prohibitions on destruction of records, wholesale termination of contracts, and transfer of funds.