WASHINGTON–The Consumer Financial Protection Bureau said it plans to rescind nearly 70 guidance documents issued over the past 14 years, including some related to the expansion of its public consumer complaint database.
CFPB Director Russell Vought said that many of the guidance documents, interpretive rules, advisory opinions, and policy statements adopted in previous administrations are “inconsistent” with statutory text and imposed “compliance burdens” without providing an opportunity for notice and comment, according to a notice posted filed by the agency.
The announcement was met with support by the Defense Credit Union Council.
“This action marks a deliberate and positive step toward improving regulatory clarity, consistency, and fairness,” DCUC said in a statement. “For too long, financial institutions—including not-for-profit credit unions—have operated under a maze of overlapping, and at times contradictory, guidance that lacked the weight of formal rulemaking but nonetheless shaped enforcement and compliance expectations.”
Way to ‘Modernize Posture’
The DCUC called the move a means to modernize the CFPB’s “regulatory posture” and said the move indicates that policy “should be driven by durable, transparent rules rather than informal advisories or politically motivated interpretations.”
“We especially commend the Bureau for its new standard of issuing guidance only where necessary and where compliance burdens would be reduced rather than increased, as explicitly stated in the document,” DCUC said in a statement. “This approach is especially valuable for defense credit unions. These institutions operate under strict oversight and exist solely to support the financial well-being and readiness of military personnel, veterans, and their families. They don’t have sprawling legal departments like Wall Street banks to navigate ambiguous guidance. Regulatory predictability empowers credit unions to do what they do best—serve those who serve.”
‘Clarity’ Provided
DCUC further praised the decision for providing clarity that the documents are not to be enforced while undergoing a review.
“DCUC appreciates this transparent signal that further changes will be based on thoughtful review and public engagement, rather than piecemeal or reactive decision-making,” the organization said. “Importantly, this decision will prevent outdated interpretations from being misused in examinations or legal proceedings, protecting smaller and mission-driven institutions from compliance overreach.”
Continue Down the Path
DCUC urged the CFPB to “continue down this path of regulatory modernization with public input and fairness as guiding principles.”