Early Days of the Trump Administration: Impact on the CFPB

In this episode of The Consumer Finance Podcast, Chris Willis is joined by Joe Reilly, a partner in Troutman Pepper Locke's Consumer Financial Services Practice Group, to discuss the events of the first two months of the new Trump administration. They provide a comprehensive overview of the current status of the Consumer Financial Protection Bureau (CFPB), its litigation matters, and its rulemaking efforts. Chris and Joe discuss the significant changes at the CFPB, including the appointment of new acting directors, the impact of the administration's directives on CFPB employees, and the ensuing legal battles. They also explore the status of key rulemakings, such as the 1071 Small Business Data Collection Rule, the overdraft rule, and the credit card late fee rule, offering insights into the potential future of these regulations. Tune in to stay informed about the latest developments in consumer financial services regulation and what they mean for the industry.