Agency Interpretations & Guidance

On May 12, 2025, the CFPB published the withdrawal of several guidance documents, interpretive rules, policy statements, and advisory opinions dating back to 2011, when the CFPB began operations. Effective immediately, the CFPB is withdrawing 67 issuances in total: 8 policy statements, 7 interpretive rules, 13 advisory opinions, and 39 other guidance documents (including circulars and bulletins). Over two-thirds of these guidance materials were issued during President Biden’s term. The attached chart details each issuance that the CFPB is withdrawing. The CFPB gave three reasons for...

On June 28, 2024, the Supreme Court issued its opinion in Loper Bright Enterprises v. Raimondo, holding that the Chevron Doctrine was inconsistent with the Administrative Procedure Act. For financial services firms, the impact of the decision will vary from agency to agency. National banks, for example, have benefited from the application of the Chevron Doctrine to actions by the Office of the Comptroller of the Currency. Going forward, however, actions by regulatory agencies must more closely be linked to statutory language, and agency justifications for regulations and other actions will be...

We provide comprehensive legal and regulatory support for government relations teams, trade associations, and policy consultants engaged in federal financial services policy advocacy. Our public policy practice covers the full range of advocacy support services, including congressional testimony, legislative drafting, comment letters, regulatory monitoring, FOIA requests, white papers, and strategic engagement with policymakers. We help clients understand regulatory developments, develop informed policy positions, and advocate effectively before Congress and federal agencies. Services...

BJ Sanford advises payments and fintech companies, U.S. and foreign banks, trade associations, investors, and policy and consulting firms. His practice centers on payments regulation, public policy, and the regulation of bank activities and structure. He also advises clients on regulatory capital, bank investments and control, affiliate transactions, the U.S. operations of foreign banks, and regulatory examinations. Payments regulation. BJ advises payments firms and banks on payment regulation, product development, and compliance with rules including Regulation E, Regulation Z, Regulation II...

Nancy Worth specializes in matters involving the federal financial regulatory agencies, with a particular focus on federal consumer law and fair lending. She advises on supervision and compliance matters relating to mortgages, credit cards, and other lending products, and on examination guidance, applications, reports of examination, enforcement actions, and consumer complaints. Her practice extends to commenting on agency review of legislation and Consumer Financial Protection Bureau regulations. Nancy previously served as Special Counsel for the Office of the Comptroller of the Currency...

Mitch Plave specializes in financial services regulation and administrative law. Mitch previously served as Special Counsel for the Office of the Comptroller of the Currency (OCC) for over 27 years. At the OCC, he led the administrative law practice and played a key role in implementing significant cases and executive orders relating to rulemaking and the issuance of agency guidance. In connection with his leadership on administrative law and procedure, he represented the OCC at the Administrative Conference of the United States. Mitch was also the lead counsel on matters relating to the...