Acting Director of CFPB Orders Suspension of New Rule Effective Dates

Lenders with the highest volume of small business loans, MCAs, and other products were supposed to begin collecting data by July 18, 2025, according to the original rules set forth by the CFPB. But now that might come with yet another delay. That’s because the agency’s Director was removed this past weekend and the new recently confirmed Treasury Secretary, Scott Bessent, is standing in as Acting Director for the CFPB in a temporary dual role until a permanent Director can be confirmed.

As part of that responsibility, multiple news outlets have reported that Bessent’s first order of business at the CFPB was to freeze much of the CFPB’s operations which included suspending the effective dates of rules that haven’t gone into effect yet. It remains to be determined how that might precisely impact the small business lending data collection rules.

This freeze possibility was first raised on deBanked on January 23 in the wake of Trump’s regulation freeze executive order.