Consumer Financial Protection Bureau: Interpretive Rules, Policy Statements, and Advisory Opinions; Withdrawal

B-337893

December 4, 2025

The Honorable Tim Scott
Chairman
The Honorable Elizabeth Warren
Ranking Member
Committee on Banking, Housing, and Urban Affairs
United States Senate

The Honorable French Hill
Chairman
The Honorable Maxine Waters
Ranking Member
Committee on Financial Services
House of Representatives

Subject: Consumer Financial Protection Bureau: Interpretive Rules, Policy Statements, and Advisory Opinions; Withdrawal

Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Consumer Financial Protection Bureau (CFPB) entitled “Interpretive Rules, Policy Statements, and Advisory Opinions; Withdrawal.” We received the rule on October 14, 2025. It was published in the Federal Register on May 12, 2025. 90 Fed. Reg. 20084. The stated effective date of the rule is May 12, 2025.

According to CFPB, this rule withdraws many guidance documents issued since CFPB assumed its functions in 2011.

The Congressional Review Act (CRA) requires a 60-day delay in the effective date of a major rule from the date of publication in the Federal Register or receipt of the rule by Congress, whichever is later. 5 U.S.C. § 801(a)(3)(A). This rule was published in the Federal Register on May 12, 2025. 90 Fed. Reg. 20084. The House of Representatives received the rule on October 10, 2025. 171 Cong. Rec. H4535 (daily ed. Oct. 14, 2025). The Senate received the rule on October 27, 2025. 171 Cong. Rec. S7783 (daily ed. Oct. 28, 2025). The stated effective date of the rule is May 12, 2025. Therefore, the stated effective date is less than 60 days from the date of receipt by Congress.

Enclosed is our assessment of CFPB's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. If you have any questions about this report or wish to contact GAO officials responsible for the evaluation work relating to

the subject matter of the rule, please contact Will Shakely, Acting Assistant General Counsel, at (202) 512-3363.

Shirley A. Jones
Managing Associate General Counsel

Enclosure

cc: Christopher Shelton
Senior Counsel, Legal Division
Consumer Financial Protection Bureau

ENCLOSURE

REPORT UNDER 5 U.S.C. § 801(a)(2)(A) ON A MAJOR RULE
ISSUED BY THE
CONSUMER FINANCIAL PROTECTION BUREAU
ENTITLED
“INTERPRETIVE RULES, POLICY STATEMENTS,
AND ADVISORY OPINIONS; WITHDRAWAL”

(i) Cost-benefit analysis

In its submission to us, the Consumer Financial Protection Bureau (CFPB) indicated that it did not prepare an analysis of the costs and benefits of this rule.

(ii) Agency actions relevant to the Regulatory Flexibility Act (RFA), 5 U.S.C. §§ 603–605, 607, and 609

In its submission to us, CFPB indicated it did not certify that this rule would not have a significant economic impact on a substantial number of small entities or prepare a final Regulatory Flexibility Analysis.

(iii) Agency actions relevant to sections 202–205 of the Unfunded Mandates Reform Act of 1995, 2 U.S.C. §§ 1532–1535

As an independent regulatory agency, CFPB is not subject to the Act.

(iv) Other relevant information or requirements under acts and executive orders

Administrative Procedure Act, 5 U.S.C. §§ 551 et seq.

In its submission to us, CFPB indicated it did not solicit public comments and address them in the rule.

Paperwork Reduction Act (PRA), 44 U.S.C. §§ 3501–3520

In its submission to us, CFPB indicated this rule does not contain an information collection under the Act.

Statutory authorization for the rule

In its submission to us, CFPB stated that it promulgated this rule pursuant to section 5512(b)(1) of title 12, United States Code.

Executive Order No. 12866 (Regulatory Planning and Review)

CFPB did not discuss the Order in the rule. It its submission to us, CFPB indicated that it did not discuss the Order in the rule's preamble.

Executive Order No. 13132 (Federalism)

As an independent regulatory agency, CFPB is not subject to the Order.