Withdrawn! Sixty-Seven Pieces of Guidance Withdrawn by the CFPB

May 20, 2025 |

(From America’s Credit Unions Compliance Blog) – On May 9, consistent with Executive Order 13891, the Consumer Financial Protection Bureau (CFPB) announced that it was withdrawing 67 pieces of guidance. Specifically, the CFPB is withdrawing 8 policy statements, 7 interpretive rules, 13 advisory opinions, and 39 pieces of other guidance. The withdrawal was published in the Federal Register on May 12, 2025 and was effective on that date.

While many of the withdrawn guidance documents were issued during the Biden presidency, some date back to 2011 and some were even issued during President Trump’s first term. To be clear, these guidance documents are not regulations, they do not carry the weight of law, and, importantly, are not covered by the Administrative Procedure Act. That means they can be introduced and taken away at the CFPB’s discretion. So, what are the pieces of guidance that are being removed?

The below provides an overview of the CFPB’s withdrawal. The Compliance team has put together a more detailed summary of the withdrawn guidance, available to members of America’s Credit Unions, here.

Policy Statements

The CFPB has withdrawn eight policy statements. Policy statements offer guidance on the CFPB’s approach to enforcing various laws. The CFPB has been accused of using policy statements in place of regulations that require a notice and comment period. One example is the 2023 Policy Statement on Abusive Acts or Practices (88 FR 21883). This policy statement explained how the Bureau would apply the “abusive” prong of UDAAP, emphasizing factors such as consumer comprehension and reasonable reliance. It also provided a broad interpretation of “abusive.” Here is a list of withdrawn policy statements:

  1. Policy Statement on No Action Letters, 90 FR 1970 (Jan. 10, 2025).
  2. Policy Statement on Compliance Assistance Sandbox Approvals, 90 FR 1974 (Jan. 10, 2025).
  3. Statement of Policy Regarding Prohibition on Abusive Acts or Practices, 88 FR 21883 (Apr. 12, 2023).
  4. Statement on Enforcement and Supervisory Practices Relating to the Small Business Lending Rule Under the Equal Credit Opportunity Act and Regulation B, 88 FR 34833 (May 31, 2023).
  5. Statement on Supervisory and Enforcement Practices Regarding the Remittance Rule in Light of the COVID-19 Pandemic (Apr. 10, 2020), https://files.consumerfinance.gov/​f/​documents/​cfpb_​policy-statement_​remittances-covid-19_​2020-04.pdf.
  6. Disclosure of Consumer Complaint Narrative Data, 80 FR 15572 (Mar. 24, 2015).
  7. Disclosure of Consumer Complaint Data, 78 FR 21218 (Apr. 10, 2013).
  8. Disclosure of Certain Credit Card Complaint Data, 77 FR 37558 (June 22, 2012).

Interpretive Rules

Seven interpretive rules were withdrawn on Monday. An interpretive rule is issued by an agency to provide an explanation of a regulation or statute. One major interpretive rule being withdrawn is the Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity. This interpretive rule declared that the Equal Credit Opportunity Act (ECOA) and Regulation B prohibited discrimination based on sexual orientation or gender identity. Credit unions should note that while this interpretive rule has been withdrawn, the Supreme Court case Bobstock v. Clayton still stands.

In Bobstock, the Supreme Court held that the Civil Rights Act prohibits discrimination based on sexual orientation and gender identity. While the decision in Bobstock did not directly discuss ECOA and Regulation B, it is likely, as Justice Alito noted in his dissent, that the Court’s decision would extend to ECOA. As such, while the withdrawal of this interpretive rule does not affect the likelihood of state or individual actions on this matter.

Here is a list of withdrawn interpretive rules:

  1. Use of Digital User Accounts to Access Buy Now, Pay Later Loans, 89 FR 47068 (May 31, 2024).
  2. Limited Applicability of Consumer Financial Protection Act’s `Time or Space’ Exception to Digital Marketers, 87 FR 50556 (Aug. 17, 2022).
  3. The Fair Credit Reporting Act’s Limited Preemption of State Laws, 87 FR 41042 (July 11, 2022).
  4. Authority of States to Enforce the Consumer Financial Protection Act of 2010, 87 FR 31940 (May 26, 2022).
  5. Examinations for Risks to Active-Duty Servicemembers and Their Covered Dependents, 86 FR 32723 (June 23, 2021).
  6. Equal Credit Opportunity (Regulation B); Discrimination on the Bases of Sexual Orientation and Gender Identity, 86 FR 14363 (Mar. 16, 2021).
  7. Bulletin clarifying mortgage lending rules to assist surviving family members (July 8, 2014), https://www.consumerfinance.gov/​compliance/​supervisory-guidance/​bulletin-mortgage-lending-rules-surviving-family-members/​.

Advisory Opinions

According to the CFPB, their advisory opinion program “provides written guidance to assist regulated entities to better understand their legal and regulatory obligations through advisory opinions.” Advisory opinions are similar to NCUA legal opinion letters. The CFPB withdrew 13 advisory opinions. Some notable withdrawals include the advisory opinion on time-barred debt, Fair Credit Reporting; Name-Only Matching Procedures, and Consumer Information Requests to Large Banks and Credit Unions. Here is a list of withdrawn advisory opinion letters:

  1. Truth in Lending (Regulation Z); Consumer Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work, 90 FR 3622 (Jan. 15, 2025).
  2. Fair Credit Reporting; File Disclosure, 89 FR 4167 (Jan. 23, 2024).
  3. Debt Collection Practices (Regulation F); Deceptive and Unfair Collection of Medical Debt, 89 FR 80715 (Oct. 4, 2024).
  4. Fair Credit Reporting; Background Screening, 89 FR 4171 (Jan. 23, 2024).
  5. Truth in Lending (Regulation Z); Consumer Protections for Home Sales Financed Under Contracts for Deed, 89 FR 68086 (Aug. 23, 2024).
  6. Consumer Information Requests to Large Banks and Credit Unions, 88 FR 71279 (Oct. 16, 2023).
  7. Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt, 88 FR 26475 (May 1, 2023).
  8. Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports, 87 FR 41243 (July 12, 2022).
  9. Debt Collection Practices (Regulation F); Pay-to-Pay Fees, 87 FR 39733 (July 5, 2022).
  10. Equal Credit Opportunity (Regulation B); Revocations or Unfavorable Changes to the Terms of Existing Credit Arrangements, 87 FR 30097 (May 18, 2022).
  11. Fair Credit Reporting; Name-Only Matching Procedures, 86 FR 62468 (Nov. 10, 2021).
  12. Truth in Lending (Regulation Z); Earned Wage Access Programs, 85 FR 79404 (Dec. 10, 2020).
  13. Truth in Lending (Regulation Z); Private Education Loans, 85 FR 79400 (Dec. 10, 2020).

Other Guidance

The CFPB has also withdrawn 39 pieces of other guidance. These include a bulletin on Unfair and Deceptive Acts or Practices That Impede Consumer Reviews and a circular on adverse action notification requirements in connection with credit decisions based on complex algorithms. You can find the full list of withdrawn “other guidance” here.

Gone for Now, Gone for Good?

The CFPB is clear in its withdrawal that the withdrawal of these pieces of guidance is not necessarily final and states:

“Such withdrawal is not necessarily final. The Bureau intends to continue reviewing all guidance documents to determine whether they should ultimately be retained. However, the Bureau has determined that the guidance identified in section III should not be enforced or otherwise relied upon by the Bureau while this review is ongoing.”

Credit unions should stay vigilant for new guidance or proposed rules that get issued. Credit unions should remain cautious when changing policies, procedures, or their operations in light of these withdrawals, as guidance may be reinstated and the threat of state or individual action remains.