The Office of Information and Regulatory Affairs (OIRA) — which sits within the White House’s Office of Management and Budget — issued its Fall 2023 Unified Agenda of Regulatory and Deregulatory Actions (URA) on December 7, 2023. Submitted semi-annually, the URA provides a report by each Federal agency, including the independent regulatory agencies, of the agency’s near-term plans to issue or rescind regulations.
This staff analysis provides a summary of consumer financial and anti-money laundering/Bank Secrecy Act (BSA/AML) regulatory activities listed in the URA of the Consumer Financial Protection Bureau and banking agencies, as well as certain non-consumer financial regulatory activities from the Federal Housing Finance Agency, Federal Housing Administration, Securities and Exchange Commission, Department of Justice, Federal Emergency Management Agency, and Department of Labor.
Consumer Financial Protection Bureau
Note: The Bureau states that its Agenda is current as of August 17, 2023.
The Bureau’s Fall 2023 rulemaking agenda includes regulatory items that it reasonably anticipates taking action on from November 2023 to October 2024. Since the last rulemaking agenda was released in June 2023, the CFPB added two new items to its Fall rulemaking agenda—a rule to amend the mortgage servicing rules under Regulation X and a joint rulemaking on the Financial Data Transparency Act. Both are discussed in more detail below.
The Bureau continues to exclude any plans to conduct rulemaking on defining larger participants in the market for aggregation services. ABA, and other trade groups, petitioned the Bureau in August 2022 to initiate a rulemaking that will strengthen the privacy and security of consumer financial data held by fintechs, Big Tech, and data aggregators by placing these entities under Bureau supervision. ABA also urged the Bureau to initiate expeditiously rulemakings to define data aggregators and nonbank consumer installment lenders as “larger participants” in their respective markets in our comment letter to their procedural rule. However, the rulemaking continues to be listed on the Bureau’s inactive rulemaking list in the current URA.
Download the staff analysis to read the full text.
