CFPB withdraws numerous guidance documents

The Consumer Financial Protection Bureau is withdrawing several guidance documents in response to President Trump’s directive to reduce regulation. The rescinded materials address areas such as fair lending practices, overdraft fees, disclosure requirements, and how large banks and credit unions handle consumer information requests.

The CFPB’s Acting Director Russell T. Vought opened the order with, “Americans deserve an open and fair regulatory process that imposes new obligations on the public only when consistent with applicable law and after an agency follows appropriate procedures.”

Check out which interpretive rules, policy statements, and advisory opinions have been withdrawn here.