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As digital assets continue to reshape the financial landscape, regulatory clarity around stablecoins is increasingly vital. The GENIUS Act, signed into law by President Trump in July, establishes the first-ever federal regulatory system for stablecoins and aims to position the U.S. as the global leader in digital assets. This is a historic shift in U.S. digital asset policy, prioritizing consumer protection, financial stability, and national security, while aiming to cement America’s leadership in the global digital currency revolution.

According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Telephone Consumer Protection Act (TCPA), and complaints filed with the Consumer Financial Protection Bureau (CFPB) were all up for the month of July. Year over year, only FDCPA complaints have decreased, and not by much.

On August 21, the Consumer Financial Protection Bureau (CFPB or Bureau) took a significant step forward in its reconsideration of the Section 1033 open banking final rule, originally issued in November 2024, by issuing an Advance Notice of Proposed Rulemaking (ANPR). This move follows the Bureau’s announcement that it would be reopening the rulemaking process when it requested a stay to the original rule amidst legal challenges.

As has been well-documented, the Consumer Financial Protection Bureau (CFPB or Bureau) is navigating a period of significant uncertainty. Just last week, the U.S. Court of Appeals for the District of Columbia vacated a preliminary injunction in the case of National Treasury Employees Union v. CFPB, potentially allowing for substantial layoffs and operational changes within the agency (discussed here). Despite this development, the CFPB briefly released an ambitious rulemaking agenda on the OMB’s Office of Information and Regulatory Affairs website on August 15, which then became inaccessible due to “Site Maintenance.”

On August 8, the Consumer Financial Protection Bureau (CFPB or Bureau) published a series of proposed rules aimed at redefining what constitutes a “larger participant” in several key financial markets. Under § 1024 of the Consumer Financial Protection Act, the Bureau’s supervisory authority extends to “larger participants” offering consumer financial products or services. The proposed rules seek to amend existing thresholds in the consumer reporting, auto financing, consumer debt collection, and international money transfer markets to better align with current market conditions and regulatory priorities. The Bureau is accepting comments on these proposals until September 22, 2025.

On August 15, the U.S. Court of Appeals for the District of Columbia issued a decision in the case of National Treasury Employees Union (NTEU) v. Consumer Financial Protection Bureau (CFPB or Bureau). The appellate court vacated the district court’s preliminary injunction, which had previously restricted the CFPB’s actions to halt the Bureau’s operations and terminate its employees.

On July 28, the New Jersey Division of Consumer Affairs issued a reminder to more than 3,000 auto dealerships regarding their obligations under the New Jersey data deletion law, N.J.S.A. § 56:12-18.1. This law, enacted and effective in January 2024, requires dealerships to offer data deletion services for consumer information stored in vehicles accepted for resale or lease. Dealerships are now on notice of their compliance obligations under the law.

On July 31, the Securities and Exchange Commission (SEC) Chairman Paul Atkins (Chair Atkins) presented “Project Crypto,” an initiative aimed at positioning the U.S. as the global leader in the digital finance world. In his address, Chair Atkins outlined his vision to modernize securities rules and regulations, enabling America’s financial markets to fully embrace blockchain technology and move on-chain. This plan solidifies President Trump’s vision of making the U.S. the crypto capital of the world and signals a new era of regulatory clarity and innovation for the crypto industry within the U.S.