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On January 9, CFPB Acting Director Russel Vought submitted a $145 million funding request to Federal Reserve Board Chair Jerome Powell for the CFPB’s second quarter of fiscal year 2026. The notice states the submission was made in accordance with a court order directing the CFPB to continue to following the funding processes set out in the Consumer Financial Protection Act, which requires quarterly transfers in an amount the Director determines is reasonably necessary from the Federal Reserve System’s “combined earnings” (previously discussed here).Continue Reading In a Retreat, CFPB Submits $145 Million Funding Request Following Court Order

On January 12, the CFPB and DOJ withdrew their October 2023 joint statement addressing how creditors’ consideration of immigration or citizenship status may intersect with the ECOA. The joint statement, published in the Federal Register on October 18, 2023, had cautioned that certain creditor policies affecting noncitizen borrowers could, in some circumstances, raise fair lending concerns. Continue Reading CFPB and DOJ Withdraw Joint Statement Addressing ECOA and Noncitizen Borrowers

On December 30, the U.S. District Court for the District of Columbia ordered that the CFPB must continue requesting funding from the Board of Governors of the Federal Reserve System under the statutory funding framework established by Congress. The Court ruled that the CFPB may not decline to request funding based on its interpretation of the Federal Reserve’s operating losses or an asserted lack of available “combined earnings.” (previously discussed here).Continue Reading Federal Court Orders CFPB to Continue Requesting Funding Operations Amid Defunding Dispute

On December 15, the Board of Governors of the Federal Reserve System and the CFPB issued joint final rules amending the official interpretations to their regulations implementing the Consumer Leasing Act and the Truth in Lending Act. The amendments reflect the annual inflation adjustment required by statute and increase the exemption thresholds effective January 1, 2026.Continue Reading CFPB and Federal Reserve Finalize 2026 Inflation Adjustments to Consumer Leasing and Truth in Lending Coverage Thresholds

On December 15, the CFPB issued a final rule amending Regulation V under the Fair Credit Reporting Act to update the maximum amount a consumer reporting agency may charge a consumer for certain file disclosures. The amendment implements FCRA’s annual inflation adjustment requirement and sets the ceiling for calendar year 2026.Continue Reading CFPB Finalizes 2026 Increase to Fair Credit Reporting Act Disclosure Fee Cap

On December 10, in a federal court filing, the CFPB stated that it plans to issue an interim final rule revising its open banking framework under the Dodd Frank Act’s Section 1033. The disclosure came in a status report filed in the Kentucky federal court litigation challenge over the rule that directed banks to make account data available free of charge for consumer sharing with fintechs.Continue Reading CFPB Signals It Will Issue Interim Open Banking Rule as Funding Lapse Approaches

On November 21, the CFPB announced changes to how its Supervision Division will conduct examinations, including a new “Humility Pledge” that examiners must read to supervised entities at the start of each review. The Bureau stated that the updated approach reflects its commitment to operating within its statutory authority and aligns with the Memorandum on Supervision and Enforcement Priorities issued in April 2025 (previously discussed here).Continue Reading CFPB Signals Major Shift in Exam Approach With New “Humility Pledge”

On November 20, 2025, the CFPB notified staff that it will begin transferring its remaining enforcement lawsuits and other pending litigation to the Department of Justice. The shift comes as the agency anticipates running out of operating funds under the Consumer Financial Protection Act (previously discussed here). Continue Reading CFPB to Begin Transferring Remaining Litigation to DOJ Amid Funding Collapse

On November 13, the CFPB issued a proposed rule to amend Regulation B’s 2023 small business lending rule implementing section 1071 of the Equal Credit Opportunity Act. The proposal would revise the scope of covered transactions, redefine which institutions are subject to reporting, modify several data fields, and adjust compliance timelines.Continue Reading CFPB Proposes Revisions to Regulation B’s Small Business Lending Rule Under Section 1071

On November 11, 2025, the Department of Justice intervened in the Consumer Financial Protection Bureau’s dispute with its employee union and notified the D.C. Circuit that the Bureau’s funding structure was unconstitutional and it can no longer draw funds from the Federal Reserve to fund its operations. The filing cited a formal opinion from the Department of Justice’s Office of Legal Counsel concluding that the Federal Reserve currently lacks “combined earnings” from which the Bureau may lawfully obtain funding. Previously, the Bureau stated that it could draw funds from the Federal Reserve’s revenues, but now maintains that only profits, not revenues, qualify as “combined earnings” under the Dodd-Frank Act. Because the Federal Reserve has been operating at a loss since 2022, there are currently no profits available for transfer to the CFPB. The OLC opinion states that the only way for the CFPB to keep the lights on is to request appropriations from Congress.Continue Reading CFPB Says its Funding Structure is Unconstitutional but a New Bureau Director is Nominated