Regulatory & Compliance Updates

All CDFI Programs Are Legally Required by Law, Says Treasury Department: On March 28, 2025, the Treasury Department has stated that all 11 CDFI programs are statutory. 

CFPB Pulls Back on Payday Loan Rule Enforcement, Stage Set to Revoke BPNL Rule: On March 28, 2025, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement of key consumer protections set to take effect March 30, under its Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation, specifically the so-called "Bounced Payment Rule." 

​Senate Votes To Repeal CFPB’s Overdraft Rule, Clearing Path For House Approval: On March 27, 2025, the U.S. Senate voted 52-48 to repeal the Consumer Financial Protection Bureau (CFPB)’s overdraft rule, a controversial regulation that placed tight limits on what many financial institutions could charge for an overdraft.

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