Today, the Consumer Financial Protection Bureau (CFPB or Bureau) released its final rule revising the 2023 small business lending data collection and reporting rule under the Equal Credit Opportunity Act (ECOA) and Regulation B, which implements Section 1071 of the Dodd-Frank Act (2026 Final Rule). The 2026 Final Rule will become effective 60 days after publication in the Federal Register, and the compliance date for initial data collection is January 1, 2028.
On April 8, Virginia Governor Abigail Spanberger signed SB 227, the Arbitration Fairness Act, into law. The Act not only regulates how high-volume arbitration providers select and oversee arbitrators, but also reshapes the rules for challenging an arbitration award after it has been issued. Designed to make consumer and employment arbitrations more transparent and balanced when administered by high‑volume arbitration service providers, SB 227 will take effect on July 1, 2026, and will apply to all arbitration agreements entered into on or after that date.
Recent reporting from the ABA Banking Journal and the American Banker describes a rapidly evolving restructuring of the Consumer Financial Protection Bureau (CFPB or Bureau) under the Trump administration, with significant implications for the agency’s future role and for regulated entities.
The U.S. Department of Justice (DOJ) has issued an interim final rule extending the compliance dates for its 2024 Americans with Disabilities Act (ADA) Title II website and mobile application accessibility regulations for state and local governments. This development is noteworthy for anyone watching the long‑running debate over web accessibility standards, as well as the potential implication of this rulemaking for a future DOJ proposed rule governing public accommodations under Title III of the ADA.
On April 22, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rewrite of Subpart A of Regulation B (Reg B) under the Equal Credit Opportunity Act (ECOA), which eliminates disparate impact from enforcement of ECOA, clarifies the prohibition on discouraging prospective applicants, and establishes new restrictions on special purpose credit programs (SPCPs). The Bureau has largely finalized the rule as proposed, with only clarifying edits rather than substantive revisions. Notably, the Bureau did so after receiving approximately 64,500 comments on the proposal from industry, consumer advocates, state attorneys general, and members of Congress. The rule will become effective 90 days after publication in the Federal Register.
On March 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released its draft Strategic Plan for FY 2026–2030 and accepted public comment through April 17. The plan, required under the Government Performance and Results Act, sets the Bureau’s mission and priorities for the next four years and explicitly aligns the CFPB’s regulatory strategy with President Trump’s pro‑growth, deregulatory agenda.
Recently, the Sixth Circuit issued a significant ERISA preemption ruling for employers and pharmacy benefit managers (PBMs). The court held that Tennessee’s PBM laws, which require “any willing” pharmacy access and limiting incentives that steer members to plan‑favored pharmacies, are preempted as applied to self‑funded ERISA plans. The ruling draws a clear line between permissible PBM cost regulation and impermissible interference with plan design and administration.
As reported by Law360, the U.S. Department of Justice (DOJ) has decided to move forward with its $68 million settlement with Colony Ridge Development LLC without seeking court approval or ongoing judicial oversight. The settlement at issue (discussed here) resolves DOJ and Texas reverse redlining and predatory lending claims in exchange for extensive operational reforms and $48 million in infrastructure improvements plus $20 million in law enforcement and public-safety spending, but no civil money penalties or direct monetary relief to borrowers.
On April 3, Kentucky enacted SB 158, a comprehensive statute governing products that offer benefits in connection with personal property, with a particular focus on add‑on products sold with vehicle finance and lease transactions. The law creates a formal regulatory framework for “vehicle financial protection products,” provides that they are not “insurance”, and ties compliance to the state’s retail installment and consumer loan regimes. Most vehicle financial protection provisions apply to products that become effective on or after January 1, 2027.
On April 7, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a final rule to remove “reputation risk” from their supervisory and examination frameworks and sharply limit their ability to influence banks’ customer relationships based on political or ideological grounds. This final rule is a central implementation step for President Trump’s debanking initiative under Executive Order 14331, “Guaranteeing Fair Banking for All Americans,” which aims to address concerns about financial institutions improperly restricting access to banking services based on customers’ political, religious, or ideological beliefs.