On May 12, 2025, the Consumer Financial Protection Bureau (“CFPB”) announced it is withdrawing 67 guidance documents, including interpretive rules, policy statements, advisory opinions, circulars, and bulletins. This action is part of a broader review initiated in April 2025 to evaluate current CFPB-issued guidance and its practical impact.
The CFPB announced that it has identified 67 guidance documents that should not be enforced, and thus are withdrawn, while this review is ongoing. Acting leadership at the CFPB determined that many of the guidance documents, issued over a time span of 14 years, resulted in either inconsistent interpretation of statutory provisions or imposition of compliance obligations outside the scope of the notice-and-comment rulemaking. The CFPB notes that the withdrawal of the guidance documents is not necessarily final and that it will continue its review of all guidance materials to determine whether the guidance documents should be retained. Even if some of the guidance is reissued in the future, the CFPB notice asserts that it does not intend to prioritize the enforcement of such guidance against parties that do not conform to the guidance during the pendency of any withdrawal.
Additionally, the CFPB notice states that under the new administration, it will follow a policy of only issuing guidance when necessary and only when such guidance reduces, not increases, compliance burdens on financial institutions. This marks a change from the CFPB’s utilization of guidance documents under former Director Rohit Chopra.
Some of the notable documents that have been withdrawn include:
- A 2023 policy statement on how the CFPB determines abusive acts or practices.
- A 2022 interpretive rule describing states’ authorities to pursue companies and individuals that violate federal consumer financial protection law.
- A 2024 circular on whether unlawful or unenforceable terms and conditions in contracts for consumer financial products and services violate the prohibition on deceptive acts or practices in the Consumer Financial Protection Act.
- A 2023 advisory opinion reminding large banks and credit unions to comply “in a timely manner” to customer requests for information about their accounts.
Two circulars on the legality of unanticipated overdraft fee assessment practices and “improper” overdraft opt-in practices.
The withdrawals are applicable as of May 12, 2025. To see the full list of withdrawn guidance documents, visit the Federal Register notice (90 FR 20084).