The Roundup: Chopra Out at the CFPB, FINRA Focusing on Influencer Marketing, and Preparing for 2025 Compliance Challenges

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: Chopra leaves CFPB in widely expected move, FINRA’s 2025 regulatory oversight report focuses on influencer marketing oversight, FDIC Acting Chairman outlines strategic priorities, CFPB publishes special edition supervisory highlights on advanced technologies, SEC announces creation of crypto task force, and preparing for 2025 compliance challenges.

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Chopra Leaves CFPB in Widely Expected Move

President Donald Trump has dismissed Rohit Chopra from his role as Director of the Consumer Financial Protection Bureau (CFPB), a move that concludes Chopra’s tenure marked by aggressive consumer protection initiatives. Treasury Secretary Scott Bessent has been appointed acting director of the CFPB.

FINRA’s  2025 Regulatory Oversight Report Focuses on Influencer Marketing Oversight

The 2025 FINRA Annual Regulatory Oversight Report provides member firms with insight into findings from FINRA’s regulatory operations programs. One area it emphasizes is oversight of influencer-driven social media content to avoid compliance risks. 

It urges firms to implement clear guidelines, monitor new tools and features, and establish robust supervisory review processes. Proper archiving of business-related communications is essential, ensuring firms meet recordkeeping requirements and maintain control over influencer partnerships.

FDIC Acting Chairman Outlines Strategic Priorities

FDIC Acting Chairman Travis Hill outlined strategic priorities focused on fostering economic growth through regulatory reviews, improved transparency in fintech and digital assets, and support for community banks facing tech challenges. He aims to streamline the bank merger approval process, withdraw certain recent proposals, and enhance supervision by prioritizing core financial risks and refining the appeals process.

Significant Stat: 1 in 5: In Q4 2024, 1 in 5 marketing assets monitored by PerformLine were flagged for potential compliance issues. Read more

CFPB Publishes Special Edition Supervisory Highlights on Advanced Technologies

The CFPB’s January 2025 Supervisory Highlights focuses on financial institutions’ use of advanced technologies, including AI/ML, in credit decision-making. The report underscores that using advanced models doesn’t exempt firms from federal consumer financial laws, such as the Equal Credit Opportunity Act (ECOA). Examinations revealed disparities in credit outcomes for minority applicants, particularly in credit card lending, linked to AI-driven credit scoring models. The CFPB directed firms to explore less discriminatory model alternatives and improve compliance systems to mitigate risks of unlawful discrimination.

SEC Announces Creation of Crypto Task Force

The SEC announced a new Crypto Task Force focused on creating a clear regulatory framework for digital assets, shifting from “regulation by enforcement” to collaboration and clarity. The task force will evaluate risks, conduct public roundtables, and potentially develop regulatory sandboxes and pilot programs to test crypto regulations. This initiative aims to balance innovation and consumer protection while coordinating with Congress on broader legislative adjustments.

Preparing for 2025 Compliance Challenges and Regulatory Changes

In this podcast, compliance experts discuss key strategies for 2025, emphasizing proactive monitoring of regulatory updates, using compliance tools to stay informed, and investing early in compliance resources to minimize long-term costs. They highlight the growing need to adapt to emerging regulations, particularly around AI and digital innovation. Best practices focus on mitigating risks through continuous review of supervisory guidance, enforcement actions, and strategic resource allocation.