CFPB headquarters
The CFPB has issued three regulatory updates that signal notable shifts in how the agency operates, including changes to rulemaking procedures, supervisory guidance policy and the use of Civil Penalty Fund resources.
All three documents are scheduled to be published in the Federal Register on June 18, 2025, and reflect the CFPB’s evolving stance on transparency, regulatory discretion and the limits of agency authority.
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In one update, the CFPB finalized a rule rescinding a 2012 procedural regulation that defined a Bureau rule as “issued” when posted on the agency’s website. Under the new approach, the CFPB will revert to the traditional process: Rules will be considered officially issued only upon publication in the Federal Register. The Bureau said the change promotes transparency and eliminates confusion about effective dates.
“The concern that gave rise to the need to define issuance based on website posting is no longer relevant,” the CFPB explained, citing the end of transitional deadlines established under the Dodd-Frank Act.
In a separate policy statement, the CFPB withdrew from a 2021 interagency agreement that limited the use of supervisory guidance. While reaffirming that such guidance does not carry the force of law, the Bureau stated that the earlier joint statement unduly restricted its ability to clarify expectations and respond to evolving market risks. The agency will continue using supervisory guidance such as bulletins and examination manuals as a flexible tool for oversight.
In the third notice, the CFPB proposed eliminating the use of Civil Penalty Fund money for consumer education and financial literacy programs. Since 2013, over $3.6 billion from the fund has gone to compensate harmed consumers, while just $28.8 million was allocated for educational efforts. The Bureau expressed concern that the current framework lacks accountability for educational spending and may distract from restitution goals.
Each rule and policy will take effect upon publication unless otherwise noted in the Federal Register.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
