The CFPB announced it will not prioritize enforcement and supervision actions against entities that fail to submit required registration information under upcoming deadlines, including the April 14, 2025 deadline for entities subject to section 1092.206(a)(2) and the July 14, 2025 deadline for those under section 1092.206(a)(3).
The registry regulation, codified at 12 CFR part 1092, was published at 89 Fed. Reg. 56028 on July 8, 2024, and requires certain nonbank covered persons subject to agency and court orders to register with the Bureau.
The Bureau said it will "instead continue to focus its enforcement and supervision activities on pressing threats to consumers" rather than pursuing registration violations.
The CFPB also announced it is "considering issuing a notice of proposed rulemaking to rescind the regulation or narrow its scope."