On January 14, the CFPB released its annual performance report, outlining the agency’s activities for fiscal year 2024 under the prior presidential administration. The report described the previous leadership as having engaged in “weaponization” of government and “an overreach of its statutory mandate.” Among other metrics, the report stated that the CFPB completed all notice-and-comment rulemakings within two years, met statutory deadlines for rules, and conducted 691 supervisory events, exceeding its target of 450. Additionally, enforcement actions yielded $507 million in consumer relief and $754 million in civil penalties, with all public enforcement actions successfully resolved. The Bureau also reported a 99 percent timely response rate to consumer complaints and over 92 percent consumer satisfaction with telephone complaint handling.

The report noted that following the change in administration, the CFPB began withdrawing regulations and guidance it deemed inappropriate (covered by InfoBytes here), terminated certain consent orders (covered here), and dismissed cases it contended “never should have been brought” (covered here). The report also stated, as previously covered by InfoBytes, that the Bureau terminated all purportedly “unlawful” diversity, equity, inclusion, and accessibility practices in accordance with Executive Order 14173.  The Bureau announced it is developing a new strategic plan for fiscal years 2026-2030 to ensure it “is not exceeding its statutory mandate,” with publication expected in March.