The CFPB Reform Act of 2026 Discussion Draft: The Most Significant Proposed Changes to the CFPB Since the Dodd-Frank Act

Featuring David McGrath of the House Financial Services Committee 

The House Financial Services Committee (HFSC) has released a discussion draft of the CFPB Reform Act of 2026, a sweeping proposal that would fundamentally reshape the Consumer Financial Protection Bureau. The HFSC is seeking comments from the general public through August 21. The bill would reform the Bureau’s governance and funding, clarify and limit certain aspects of its authority, promote innovation in consumer financial markets, revise its supervisory framework, and curb what many have described as “regulation by enforcement.”

Please join us for a timely webinar examining this landmark legislation and its potential impact on consumers, banks, credit unions, Fintech companies, nonbank financial services providers, and the broader consumer financial services industry.

Our special guest will be David McGrath, Majority Staff of the House Financial Services Committee, who helped prepare the discussion draft. David will discuss the Committee’s objectives and the principal reforms contained in the proposal. 

The program will be moderated by Alan Kaplinsky, founder, former chair for 25 years, and now senior counsel of the Consumer Financial Services Group at Ballard Spahr LLP. Alan will be joined by Joseph Schuster, Ron Vaske, and John Culhane, Jr. of the Consumer Financial Services Group, who will provide their analysis of the proposal and discuss its practical implications for the consumer financial services industry.

Among the topics to be discussed are:

1. Reforming the CFPB’s governance and funding 

2. Clarifying the Bureau’s UDAAP authority and enforcement powers

3. Promoting innovation and expanding opportunities for responsible small-dollar lending

4. Reshaping CFPB supervision of banks, credit unions, and nonbanks

5. Reducing reliance on “regulation by enforcement”

6. The legislative outlook and what regulated entities should be doing now  

Don’t miss this opportunity to hear directly from one of the individuals who helped prepare the discussion draft and to gain practical insights from Ballard Spahr’s Consumer Financial Services Group regarding one of the most consequential consumer financial services legislative proposals in more than a decade. 

This live program will not be recorded and is not open to members of the press or media. Please reach out to mediarelations@ballardspahr.com with any questions.