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The Senate Banking, Housing and Affairs Committee (Banking Committee) would eliminate the CFPB’s current funding source, as part of Committee’s Republican version of its part of the massive budget reconciliation bill, according to legislative language released by the Banking Committee.

The CFPB recently made filings with the Office of Management and Budget (OMB) regarding the following rules:

• Loan Originator Compensation Requirements Under the Truth in Lending Act (Regulation Z).
• Discretionary Servicing Rules under the Real Estate Settlement Procedures Act (Regulation X).
• Discretionary Mortgage Servicing Rules Under the Truth in Lending Act (Regulation Z).
• Defining Larger Participants of the Consumer Debt Collection Market.
• Defining Larger Participants of the Consumer Reporting Market 2025.

So it is being reported by Communications Daily that FCC Republican Commissioner Nathan Simington is expected to either leave the agency or announce his imminent departure this week.

That’s fascinating and unexpected- at least by me. Simington has proven a good friend to business and one of the sharpest defenders of small business– at least when it comes to TCPA issues. And he was the anti-230 crusader (I thought, at least) and there is still a ton of work to be done with Big Tech.

Effective May 1, 2025, the American Arbitration Association (“AAA”) amended its Consumer Arbitration Rules, including Rule 12 dealing with the registration of consumer arbitration clauses.  The AAA stated that its goal was to “clarify” the rules in order to maintain “fairness” and “transparency.”  Nevertheless, the recent Eleventh Circuit in its opinionMerritt Island Woodwerx, LLC v. Space Coast Credit Union raises the question whether Rule 12, as applied by the AAA in practice, has been clarified enough.

Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) submitted several regulatory proposals to the Office of Management and Budget (OMB) for review. Among the rules under consideration are those related to loan originator (LO) compensation and discretionary mortgage servicing, governed by the Truth in Lending Act (Regulation Z) and the Real Estate Settlement Procedures Act (Regulation X). Additionally, the CFPB is reviewing its “larger participant” rules, which define the scope of its supervisory authority over major players in the debt collection and consumer credit reporting sectors. These rules, currently in “prerule” status, are under scrutiny by the OMB.