CFPB Shifts Enforcement Policy on Non-Bank Registry Deadlines
"The Bureau will instead continue to focus its enforcement and supervision activities on pressing threats to consumers."
CFPB Announcement
"The Bureau will instead continue to focus its enforcement and supervision activities on pressing threats to consumers."
CFPB Announcement
The CFPB "will not prioritize enforcement or supervision actions" against small loan providers that miss upcoming registration deadlines under the nonbank supervision rule.
In a news release, the CFPB also said it is considering issuing a proposed rulemaking "to rescind the regulation or narrow its scope," revising or rescinding the regulation entirely.
The affected rule, Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders, requires nonbank entities to register information related to past legal violations. (See related coverage.)
The CFPB stated that entities covered by the April 14, 2025, and July 14, 2024 deadlines will not be targeted for enforcement at this time.