14 May 2025
📄CFPB Proposes Rescission of Supervisory Designation Amendments
Procedures for Supervisory Designation Proceedings
Summary
The Consumer Financial Protection Bureau (CFPB or Bureau) is proposing to rescind the amendments it adopted on April 29, 2022, November 21, 2022, and April 23, 2024, to the Procedures for Supervisory Designation Proceedings.
Agencies
- Consumer Financial Protection Bureau
Business Impact
$$ - Med
The proposed rescission of amendments regarding supervisory designations by the CFPB impacts compliance and regulatory requirements for nonbank businesses. The changes may alter the risk profile and supervisory pressures these entities face, which could significantly affect business reputations and operational protocols.