In its motion for a summary judgment in a lawsuit challenging the regulation, the CFPB stated it has concluded that the Section 1033 Rule (Rule) exceeds the agency’s statutory authority to create an open banking system by—among other things—requiring that consumer data be shared with third parties.
Not every delinquent account should be routed toward settlement—but for those that are already enrolled with a debt settlement company (DSC), resolution can often be faster, cleaner, and more predictable.
For lenders, debt buyers, and agencies participating in coordinated settlement networks, the ability to identify and prioritize these accounts is more than a tactic—it’s a structural advantage. It streamlines workflows, improves partner coordination, and accelerates recoveries.
The House Financial Services Subcommittee on Financial Institutions is set to explore data privacy issues in an upcoming hearing titled “Framework for the Future: Reviewing Data Privacy in Today’s Financial System.”
In May 2025, the Consumer Financial Protection Bureau revoked nearly 70 guidance documents, marking a significant regulatory shift under new leadership. Additionally, since February, CFPB has dismissed most of its enforcement actions. This resource offers a clear, organized view of the CFPB’s rescinded and remaining actions across key consumer finance markets—including mortgage lending, credit cards, auto finance, and more. Use the accordion menus below to explore guidance withdrawals by sector, track remaining active documents, and assess potential compliance impacts.
In a recent decision, the U.S. Court of Appeals for the Second Circuit clarified the expectations for furnishers when investigating consumer disputes under the Fair Credit Reporting Act (FCRA). In Suluki v. Credit One Bank, No. 23-721 (2d Cir. May 28, 2025), the Second Circuit emphasized that the FCRA requires furnishers to conduct reasonable, not perfect, investigations into disputed accounts. The opinion also cements the fact that summary judgment is possible — and appropriate — when a furnisher conducts a reasonable investigation of a credit dispute.
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