The Roundup: Government Shutdown, CFPB Terminates Consent Orders, FTC Settles with Firm that Violated 2022 Order, NY DFS Regulator Steps Down

Welcome to the PerformLine Regulatory Compliance Roundup, home of the latest news, articles, and reports from our industry, curated for you. Let’s get into it.

In this edition: Learn the latest about the federal government shutdown, consent orders that the CFPB has recently dropped, a business credit report service provider agreed to a $5.7 million settlement with the FTC over allegations the firm violated a 2022 order, New York’s top regulator steps down, and more…

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The Government Shutdown Begins

The federal government has officially entered a shutdown after Congress missed the spending deadline. While essential services continue, many federal programs and agencies face disruptions. The standoff stems from sharp divisions in Congress, with Republicans pressing for deep cuts and policy concessions and Democrats pushing back, leaving no clear path to reopening. AP

CFPB Terminates Four Consent Orders Against National Banks, One Against Lender

The Consumer Financial Protection Bureau (CFPB) has terminated four consent orders against national banks and one against a lender, after determining that each had satisfied its obligations. 

These terminations involve matters such as redress to consumers, civil money penalties, and compliance reforms covering laws including RESPA, HMDA, TILA, and FCRA. JD Supra

FTC Settles With D&B for Violating Order by Misrepresenting Prices and Products

Business credit report service provider Dun & Bradstreet (D&B) has agreed to a $5.7 million settlement with the Federal Trade Commission over allegations the firm violated a 2022 order. D&B’s alleged violations include providing inaccurate information about its products to customers before renewing their subscription services, leading to overcharging, and misrepresenting that purchasing fee-based products will improve these customers’ credit scores. FTC

New York’s Top Financial Regulator Steps Down

Adrienne Harris, New York state’s most senior financial regulator, is stepping down later this month. Harris was the longest-serving superintendent of New York’s Department of Financial Services and exits after a reform-heavy tenure that raised the agency’s national profile. American Banker

CFPB Drops Enforcement Actions Against Two More Lenders

Washington Federal Bank and Planet Home Lending are only the latest in a long list of businesses against which the CFPB has terminated its consent orders. American Banker

What to Expect From the Next Federal Reserve Policy Committee Meeting on Oct. 28

Investors expect the Federal Open Market Committee to reduce the fed funds rate by a quarter of a percentage point to a range of 3.75% to 4%, according to the CME Group’s FedWatch tool. That would mark the lowest level for the fed funds rate since December 2022. The Fed cut the key rate in September for the first time since December. Investopedia

How Banks Are Tackling Compliance, Fintech Partnerships, and AI Oversight

Get insights into how banks are navigating the dual pressures of regulatory compliance and innovation — especially in the context of managing fintech partnerships and adopting AI.

Learn how many are tackling effective oversight, vendor accountability, and evolving AI governance as keys critical for maintaining compliance and customer trust. PerformLine