On May 21, the CFPB published a notice in the Federal Register withdrawing its procedures that required state officials to notify the Bureau when taking action to enforce the CFPA. The direct final rule, effective July 21, aimed to eliminate regulatory burdens by rescinding the regulations codified at 12 C.F.R. 1082.1. The final rule stated it would reduce regulatory burdens on state officials without imposing additional burdens on consumers. The CFPB encourages early submission of comments with the deadline for any significant adverse comments set for June 20.

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape.