Jump to Content
close
close
ABA: The American Bankers Association
Statement
  • For Immediate Release
  • May 9, 2025

ABA Applauds CFPB Withdrawal of Regulatory Guidance

"ABA has long expressed concern about the CFPB’s issuance of ‘guidance’ to advance its regulatory policy agenda, and we welcome the CFPB’s decision to withdraw a substantial amount of that guidance today. While banks welcome guidance that helps them understand and comply with the law, too often in the past the CFPB has characterized something as guidance that is actually a rule Congress requires to go through the notice-and-comment process. In the most egregious cases, the guidance announces expectations that exceed the CFPB’s statutory authority. This misuse of guidance creates unnecessary confusion for regulated entities, deprives the industry of fair notice and undermines the legitimacy of the regulatory process. We’re hopeful that today’s action marks a turning point in the CFPB’s regulatory approach going forward."

###

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $24.5 trillion banking industry, which is composed of small, regional and large banks that together employ approximately 2.1 million people, safeguard $19.5 trillion in deposits and extend $12.8 trillion in loans.

Press Contact

Josh Britton

(202) 663-7553

Contact Josh
Useful Links

Resources for the Media

Media Contacts

All inquiries from the press can be directed to one of our press contacts.

ABA Expert Photos

Hi-Res photos for use by the press.

ABA Media Appearances

Getting the industry's message out – in print and on the air – about banks' health and lending, as well as policies that are harmful to economic recovery.

Media Credentials

Complimentary press registrations are available for select events.

Join Our Media Lists

Want to be added to our news release list? Sign up here.

RSS Feed

Get ABA press releases via RSS.