The House Subcommittee on Financial Institutions is set to review the current legal and regulatory framework for federal consumer protection in an upcoming hearing on March 26 at 10 a.m. ET. Titled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections,” the hearing will evaluate several proposed reforms that could reshape the Consumer Financial Protection Bureau (CFPB) by focusing on funding mechanisms, oversight, and regulatory authority.
Economic pressures are mounting, and the landscape of debt collection is poised for a significant transformation in 2025. PYMNTS.com reported recently that 67% of Americans feel they are living paycheck-to-paycheck. This financial strain should reshape how banks and lenders approach recovering debts.
The Office of the Comptroller of the Currency (OCC) has commenced removing references to banks’1 reputation risk from its Comptroller’s Handbook booklets and guidance issuances. Concurrently, the OCC has instructed its examiners that they should no longer examine for reputation risk.
Today’s podcast show features a discussion with Professor Gregory Klass of Georgetown University Law School about an article he co-authored with Professor Ian Ayres, entitled “How to Use the Restatement of Consumer Contracts: A Guide for Judges.” The article will be published this year in the Harvard Business Law Review (vol 15), and is available here.
On March 18, President Donald Trump dismissed the two Democratic commissioners from the Federal Trade Commission (FTC). The removal of Commissioners Alvaro Bedoya and Rebecca Kelly Slaughter has sparked significant controversy and legal challenges.
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