CFPB Rulemaking Under the Biden Administration: What’s On the Agenda?

One of the first tasks of the Consumer Financial Protection Bureau (CFPB)’s next director is likely to be a reassessment of the agency’s rulemaking agenda in light of the Biden Administration’s priorities. In addition, Acting Director David Uejio has indicated that he is exploring options that could potentially allow the next Director to revisit rulemakings completed under the prior administration. In this webinar, we will discuss our expectations for how the next director will use the agency’s regulatory authority to achieve the goals of the “new CFPB.” Our discussion will look at rulemaking initiatives the CFPB might pursue under new leadership, the future of pending rulemakings, and the fate of already completed rulemakings. Topics include:

• What the CFPB will prioritize in its rulemaking activities.
• Whether the CFPB will engage in rulemaking focused on COVID-19 relief.
• If the CFPB will postpone the effective dates of and/or reopen the final rules on debt collection, small dollar loans, and qualified mortgages
• Whether the CFPB will continue pending rulemakings on Section 1071 data collection and reporting, consumer access to financial information, and mortgage servicing.
• Will the CFPB initiate new rulemakings on bank overdraft fees, larger participants, UDAAP, E-SIGN, alternative data and machine learning, fair lending, student loan servicing, and credit reporting?
• Whether the CFPB will launch another arbitration rulemaking.
• If the CFPB will reverse its positions in the litigation challenging the small-dollar lending rule.