Compliance & Regulatory Updates: Feb. 28, 2024

CFPB Supervisory Powers Clarified: On February 23, the agency made its 2022 supervisory order of installment lenders public to provide transparency about how it assesses risks using consumer complaints and other factors for avoidance of posing of those risks to consumers. 

B3E is Coming July 2025: Basel III Endgame (B3E), banking regulations will begin phasing in on July 1, 2025, with full implementation by July 1, 2028. 

NCUA Minority Depository Institution Preservation Program (MDIPP): On February 23, the agency published its final Interpretive Ruling and Policy Statement (IRPS) for credit unions on MDIPP effective March 23, 2024, to preserve and grow minority depository institutions. 

​Pending Supreme Court and Legal Updates Involving Financial Services: This term, the United States Supreme Court has heard oral arguments in several cases impacting regulation and financial services.

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