OCC is overturning a rule that strengthened bank merger policy. The OCC says that its decision is intended to make it easier for banks to merge and promote competition, economic growth and innovation. However, it is actually eliminating policies that would have negative implications on consumers, competition, and financial stability.

Better Markets Fact Sheet: Bank Mergers Require Robust Scrutiny to Ensure that Consumers’ Interests Are Not Sacrificed for Wall Street’s Profits

The SEC closed its investigation into Morgan Stanley’s cash sweep program. Investors often receive less interest through automatic cash sweep programs than they could receive through other options.

The CFPB and two trade groups have jointly asked a federal court to vacate the CFPB’s Medical Debt Rule, which would have removed certain medical debts from credit reports.

Read our press release here.

The CFPB stated that it will not enforce the Bureau’s Small Business Lending Rule, which required that all small business lenders collect and report certain demographic data on the race, ethnicity, gender, and LGBTQ status of loan applicants.

The SEC closed its investigation into PayPal’s stablecoin. The SEC has surrendered to the crypto industry.

New Bureau leadership instructs staff to review and identify prior CFPB guidance for potential revocation. Revoking such guidance will bring less clarity and certainty for both consumers and businesses.