CFPB's Regulatory Shake-Upand States Ramp Up Consumer Protection Efforts
6/25/2025 - By Lorraine Faust, CRCM
Did you hear about CFPB’s announcement of the withdrawal of 67 regulatory guidance documents? With so much going on recently it’s understandable if you missed it. Yes, you read that correctly—67 documents! The potentially withdrawn documents impact a multitude of consumer protection laws including CFPA, FCRA, FDCPA, ECOA, TILA, EFTA and MLA and UDAAP interpretations. As we take time to digest this news, a key question arises: How will this affect prudential regulators? Historically, these regulators often followed the CFPB's lead on supervision topics and tactics.
Many industry experts have speculated that states would ramp up their bank regulatory supervision in response to recent changes at the CFPB, OCC, FDIC, FRB, and NCUA. This speculation is now becoming reality. Pennsylvania has announced the launch of a new consumer protection hotline, website and email address making it easier to report consumer complaints and allowing consumers to connect with departments such as the Department of Banking and Securities and the Pennsylvania Insurance Department. This may be the beginning of a new trend. Financial institutions should stay vigilant for any changes in focus by their state banking regulators, as we expect to see more movement at the state level.
Join Saltmarsh at BankTalk
As the regulatory landscape continues to evolve, staying informed and proactive is crucial for financial institutions.That’s why we’re hosting BankTalk, a dedicated space for bankers to explore the latest in technology, compliance, and supervision trends with industry experts and peers.
- Sunday, September 7 – 20th Annual BankTalk Reception
- Monday, September 8 – BankTalk: Technology & Compliance Funnels
Free for bankers – but space is limited. Learn more about the event at www.saltmarshadvisors/banktalk. Reserve your spot today and gain insights that will help you stay ahead of shifting regulations.
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