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The Consumer Financial Protection Bureau (CFPB) has announced that it is rescinding two registry rules:
- The final rule—Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders (12 CFR 1092), referred to herein as the "order rule"; and
- The proposed rule—Registry of Supervised Nonbanks That Use Form Contracts To Impose Terms and Conditions That Seek to Waive or Limit Consumer Legal Protections, referred to herein as the "contract rule."
For additional information, see our prior alerts on the final order rule and non-enforcement of the rule.
The order rule would have required nonbank financial service companies to register with the CFPB if the company was subject to certain federal or state agency orders. The contract rule would have required nonbanks subject to CFPB supervisory authority to register with the CFPB information about the use of certain terms and conditions in form contracts.
Both rules have been rescinded as of October 29, 2025. This means that finance companies and other nonbanks will no longer have an obligation to register under these rules going forward.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
