The Office of the Comptroller of the Currency is reviewing its 2020 interpretation of preemption under the Dodd-Frank Act to see if any updates are needed, according to Acting Comptroller Michael Hsu.

The initial updates focus on easing user access to the system. The second phase of updates is expected in the second half of 2025.

The bureau said some companies may be in violation of the CFPA if they include language in their non-disclosure agreements that discourage employees from reporting illegal misconduct.

The proposed rule fails to provide a bright-line test for lenders and employers, an attorney with the Dorsey & Whitney law firm said.

Federal banking agencies reviewing regulations; CFPB countersues lease-to-own company; the bureau considers penalties against Equifax; lawsuit against CFPB credit card late fee rule to stay in Texas; lenders seek more time to comply with Section 1033 rule.

The proposal includes some aspects supported by both servicers and consumer advocates and some provisions that could see pushback from servicers.

In a major victory for the CFPB, the appeals court decision reverses a prior ruling by a district court, reinstating the ECOA lawsuit.

CFPB rules are likely to face challenges and the bureau may shift to using enforcement actions as a form of policymaking.

Only four proposed rules are on track to come from the CFPB by May 2025, according to the latest regulatory agenda.

The bureau found increasing instances of inaccurate reporting under the Home Mortgage Disclosure Act. Two lenders also faced fines recently.