The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.

An appeals court upheld a nine-figure default judgment against Nexus Services, Libre by Nexus and three individuals who scammed immigrants held in custody by ICE.

The Consumer Financial Protection Bureau will delay its small-business lending data rule by a year, citing litigation and plans to rewrite the regulation in the interim as reasons for the delay.

Washington Federal Bank and Planet Home Lending are both off the hook for the remainder of their consent orders, which the bureau quietly terminated.

The embattled regulator has dropped more than half its Biden-era docket, including cases against Apple and U.S. Bank. But insiders at the bureau say that's just the beginning.

Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.

As state-level regulators rush in to fill the gap left by a shrinking Consumer Financial Protection Bureau, bank products will have to comply with dozens of potentially conflicting state requirements.

Rent-seeking banks looking to profit from their monopoly on access to customer data can't be allowed to stymie the development of open banking in the U.S.

The Consumer Financial Protection Bureau has fined Synapse $1 for its role in a $60 million to $90 million shortfall in fintech users' accounts.

The Consumer Financial Protection Bureau dropped an investigation into Credova Financial, a buy now/pay later lender focused on gun financing and subsidiary of PSQ Holdings, where Donald Trump Jr. serves on the board.

The Consumer Financial Protection Bureau doubles its anticipated rulemaking agenda from last year, even as bureau employees expect mass layoffs.

By a 2-1 vote, a three-judge panel of the D.C. Circuit Court of Appeals ruled that the CFPB's union did not have a reviewable claim under the Administrative Procedure Act. The union is expected to appeal to the full D.C. Circuit.

New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.

The Consumer Financial Protection Bureau has proposed reducing supervision of all but the largest nonbanks in four key markets: auto financing, consumer credit reporting, debt collection and international money transfers.

The Consumer Financial Protection Bureau has been investigating the failed banking-as-a-service fintech and is preparing to file a complaint accusing it of unfair acts or practices. 

Rather than deleting the Consumer Financial Protection Bureau, now is the time for the president and Congress to reform and reboot it into the agency that carries out its mission in an apolitical manner.

Supreme Court rulings and provisions in the recently passed budget bill are bolstering the legality of the administration's effort to fire more than 1,000 employees at the Consumer Financial Protection Bureau.

House Financial Services Committee Chairman French Hill  promised to begin combing through Dodd-Frank to find areas for deregulation, while the panel's ranking member made it clear that Democrats would fight for the Consumer Financial Protection Bureau. 

As we enter one of the banking industry's most extreme cycles of deregulation, we should remember it doesn't always work, especially when supervisory police are reduced and consumer protection guardrails are removed, resulting in a high-speed lane for risk-taking banks and nonbanks.

Supposedly written to expand consumers' "freedom," the rule implementing open banking laws is actually central planning in disguise. It can't be allowed to supplant better, market-driven solutions.