CFPB Rescinds Registry Rule for Nonbanks Subject to Agency and Court Orders

The CFPB issued a final rule rescinding its Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders previously adopted on July 8, 2024 (the NBR Rule).  (See prior WBK coverage of the NBR Rule).

Nonbank companies are no longer required to report to the CFPB the existence of final public orders (such as enforcement actions or court orders) issued against them by governmental agencies in connection with the consumer financial products or services they offer and/or provide. The CFPB stated that the NBR Rules’ costs outweigh its speculative benefits and concluded that it is not a necessary tool for consumers to monitor risks.

The rescission of the NBR Rule became effective upon publication in the Federal Register on October 29, 2025.