News in the arm industry comes from everywhere, seemingly all the time. It can be tough to figure out what’s news and what’s just noise, but insideARM’s weekly recap of top stories will give you the news we found most interesting last week and more importantly- why we think it’s relevant. Last week the Federal Government, changes at the CFPB, and pushback to those changes dominated the news cycle again.
On Tuesday we brought you news from Ballard Spahr, detailing the administration’s nomination of Jonathan McKernan to serve as Director of the CFPB. The article walks through Mr. McKernan’s background which may shed some light on the impact he’ll have at the CFPB if confirmed. As we said last week, the direction of the CFPB is in flux. Everyone in the ARM industry should be paying attention. The more prepared we are for changes, the less disruptive they will be.
On Wednesday we brought you an article from Orrick explaining the highlights of a lawsuit filed by 14 states attorneys general that challenges the authority of DOGE and its head, Elon Musk, to take actions across the federal government. The complaint seeks to stop Musk and DOGE from taking further action regarding public funds, government contracts, personnel decisions, and accessing sensitive data. DOGE entered the CFPB’s offices on February 7, 2025. Therefore, the court’s rulings in this case might have an impact, even a significant impact on the CFPB and its direction.
On Thursday, we published news about the lawsuit filed by the National Treasury Employees Union (NTEU) against the CFPB that challenges Acting Directo Vought’s efforts to “shut down” the CFPB are unconstitutional. On February 14, 2025, the judge hearing the case entered an order, including several specific key provisions, to maintain the status quo until it can hear NTEU’s motion for a temporary restraining order. As with the other news from last week, this is something else to keep on your radar as we assess the new direction of the CFPB and what it means for the ARM industry.
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