MBA Letter to CFPB on Non-Bank Consent Order Registry
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In light of President Trump’s executive order1 titled Regulatory Freeze Pending Review, the MBA urges the Consumer Financial Protection Bureau (CFPB or Bureau) to take immediate action to postpone for 60 days the effective compliance dates for entities subject to the CFPB’s Nonbank Registration Regulation3 (the Rule) issued on June 3, 2024. While the deadline for large nonbank entities recently passed, the registration process is ongoing, with smaller nonbanks under CFPB supervision required to register by April 14, 2025, and all other covered nonbanks to follow by July 14, 2025.
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