State Official Notification Rules Rescission Withdrawal

The CFPB is withdrawing a direct final rule that would have rescinded 12 CFR Part 1085, which established procedures by which a State official must notify the Bureau when the official takes an action to enforce the Consumer Financial Protection Act. By withdrawing this rule, the CFPB preserves the existing notification requirement—state officials must continue to provide notice to the Bureau when initiating such enforcement actions.

State attorneys general and state financial regulators who enforce consumer financial protection laws should note that the coordination procedures with the CFPB remain unchanged. No new compliance obligations are created by this withdrawal, but the pre-existing notification framework that was at risk of being eliminated is now confirmed to remain operative.