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.
In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the Consumer Financial Protection Act of 2010 (1033 rule). This decision comes amidst ongoing legal challenges, notably from Forcht Bank, N.A.; Kentucky Bankers Association; and the Bank Policy Institute, which filed a lawsuit immediately after the 1033 rule was finalized challenging it.
On July 14, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a status report announcing its decision not to reissue its Medical Debt Collection Advisory Opinion, which had been issued in 2024 to “remind debt collectors of their obligations to comply with the Fair Debt Collection Practices Act [FDCPA] and Regulation F’s prohibition on false, deceptive, or misleading representations or means in connection with the collection of any medical debt and unfair or unconscionable means to collect or attempt to collect any medical debt.” The Advisory Opinion had been challenged in the U.S. District Court for the District of Columbia by ACA International and Collection Bureau Services, Inc.
According to a recent report by WebRecon, court filings under the Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), and complaints filed with the Consumer Financial Protection Bureau (CFPB) were all up for the month. Only Telephone Consumer Protection Act (TCPA) filings were down for May.
WebRecon reports the overall statistics for
On June 23, the Consumer Financial Protection Bureau (CFPB or Bureau) released an update to its 2015 report on Americans who did not have a credit record (credit invisibles) or who had insufficient credit history to have a credit score (“stale unscored” and “insufficient unscored”). The CFPB provided this update, driven by methodological corrections and enhanced data sources, in an effort to offer a more accurate depiction of the number of Americans with limited credit histories and highlight significant changes over the past decade.
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) published a policy statement in the Federal Register outlining its approach to addressing criminally liable regulatory offenses. This publication comes in response to Executive Order 14294, issued by President Trump on May 9, 2025, which aims to combat overcriminalization in federal regulations.