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Who’s Who at the Helm of Federal Banking Regulatory Agencies? Newly inaugurated President Trump signed his first batch of Executive Orders on January 20, 2025. Among them was an Executive Order that included a regulatory freeze, blocking all regulatory agencies from proposing or issuing any rules until they are reviewed and approved by a Trump-appointed executive. We have started to see those Trump-appointed executives take their places across the financial regulatory agencies and expect them […]

Last weekend created some excitement for those of us working in risk and compliance. On Friday, February 7, 2025, Russell Vought was appointed as the Interim Director of the Consumer Financial Protection Bureau (CFPB). On Saturday the 8th, Mr. Vought ordered employees to “cease supervision and examination activity”, before telling staff Monday to “stand down from performing any work task.” Then, the agency’s chief operating officer informed employees on Sunday that the CFPB’s headquarters would […]

This week we’re sharing two updates from the regulators. The first about UDAP/UDAAP and the second on Elder Financial Abuse… OCC Updates Booklet on Unfair or Deceptive Acts or Practices and Unfair, Deceptive, or Abusive Acts or Practices On December 3rd, the OCC announced updates and rescissions to their booklet containing information for examiners regarding UDAP and UDAAP. In their announcement, the OCC said that the updated booklet… provides further clarity regarding sound risk management […]

Here are few interesting news items we brought together in a compliance news round-up for this week… CFPB’s Section 1071 Filing Platform: Beta Testing Feedback As many of you are aware, the beta Small Business Lending Filing Platform opened in August for testing & commentary. Earlier this week, the CFPB released a few tips related to LEIs, data submission, and filing tools early user feedback. Below you’ll find their tips, exactly as shared by the […]