CFPB: Input Sought on Digital Payment Privacy and Consumer Protections
Agency invites public to comment on financial surveillance concerns and how to apply existing laws to emerging consumer payment mechanisms Today, the CFPB announced that it is seeking public input on strengthening privacy protections and preventing harmful surveillance in digital payments, particularly those offered through large technology platforms. The agency is requesting comment on implementing…
HUD: Affordable Housing Regulations Streamlined and Modernized Making Housing More Accessible for Families Nationwide
The Final Rule for HUD’s HOME Investment Partnerships Program will reduce administrative burden on communities, better align federal resources, and lower housing costs for families nationwide. Today, the U.S. Department of Housing and Urban Development (HUD) published a Final Rule in the Federal Register to modernize and strengthen regulations for the HOME Investment Partnership Program (HOME). HOME…
CFPB: Application Approved from Financial Data Exchange to Issue Standards for Open Banking Under Personal Financial Data Rights Rule
Agency also issues updated procedures for companies requesting special regulatory treatment Today, the Consumer Financial Protection Bureau (CFPB) issued an order recognizing Financial Data Exchange, Inc. (FDX) as a standard setting body under the CFPB’s Personal Financial Data Rights rule. The order of recognition is the first to be issued under the rule. The Personal Financial Data…
CFPB: Rule Finalized to Remove Medical Bills from Credit Reports
Final rule will remove billions of dollars of medical bills from credit reports and end coercive debt collection practices that weaponize the credit reporting system Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule that will remove an estimated $49 billion in medical bills from the credit reports of about 15 million Americans. The CFPB’s action…
ABA: Banks and Business Groups File Legal Challenge Against Federal Reserve Over Flawed Stress Testing Framework
The Bank Policy Institute, along with the American Bankers Association, the U.S. Chamber of Commerce, the Ohio Bankers League and the Ohio Chamber of Commerce today announced that they are filing litigation against the Federal Reserve, challenging the opaque aspects of the stress testing framework. While stress testing is an important risk management tool for banks and…
Federal Reserve: Public Comments Sought on Significant Changes to Improve Transparency of Bank Stress Tests
Due to evolving legal landscape & changes in the framework of administrative law, Federal Reserve Board will soon seek public comment on significant changes to improve transparency of bank stress tests & reduce volatility of resulting capital requirements n view of the evolving legal landscape, the Federal Reserve Board will soon seek public comment on…
SBA: President Biden Signs Law to Deliver Funding to SBA to Reopen Its Disaster Loan Program and Support Recovery in Communities Across the Country
SBA can now confirm loan offers to over 21,000 qualified disaster loan applicants waiting for financial assistance to recover Today, President Joe Biden signed(Link is external) the American Relief Act, 2025(Link is external) into law, providing funding for the U.S. Small Business Administration’s Disaster Loan Program. With this funding, which required Congressional approval, the SBA can resume processing urgently needed…
Agencies Release Annual Asset-Size Thresholds Under CRA Regulations
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced the 2025 updated Community Reinvestment Act (CRA) “small bank” and “intermediate small bank” asset-size thresholds. The CRA regulations establish the framework and criteria by which the relevant agencies assess a financial institution’s record of meeting the credit needs of its entire community, including…
FHFA: 2025-2027 Housing Goals Finalized for Fannie Mae and Freddie Mac
The Agency’s final rule sets benchmarks for the Enterprises’ mortgage acquisitions, and updates the process for determining whether an Enterprise would submit an action plan when an Enterprise misses certain goals The Federal Housing Finance Agency (FHFA) issued a final rule today that establishes new affordable housing goals for the loan purchases of Fannie Mae…
CFPB: Final Rule Issued to Protect Homeowners on Solar Panel Loans and Other Home Improvement Loans Paid Back Through Property Taxes
Lenders offering ‘PACE products’ banned from setting borrowers up to fail on clean energy and disaster readiness loans Today, the Consumer Financial Protection Bureau (CFPB) finalized a rule mandated by Congress that applies existing residential mortgage protections to Property Assessed Clean Energy (PACE) loans. PACE loans are used by homeowners for clean energy upgrades and disaster readiness…