The Consumer Financial Protection Bureau’s funding and foundations are hotly debated on Capitol Hill and in courtrooms.
As the agency itself has been walking back, or outright canceling, its own rulemaking, there’s a flurry of activity at the state level where lawmakers and attorneys general are, in effect, stepping in for the bureau, levying lawsuits and legislation that treads ground typically covered by the consumer-focused watchdog.
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:
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.
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