In the Media
Judge blocks CFPB open banking rule enforcement
Read Time: 1 minMember Adam Maarec (Washington) was quoted in an article in Banking Dive Magazine on October 30, 2025. The article covered the preliminary injunction in a federal lawsuit enjoining a U.S. open banking framework until the Consumer Financial Protection Bureau issues a new rule.
Vought’s comments, and the agency’s prior stance toward the rule’s legality, makes it unclear when a revised rule might be forthcoming, said Adam Maarec, an attorney with McGlinchey Stafford, who advises banks and fintechs.
“With CFPB leadership having a stated intention of shuttering the agency in the next few months, and ongoing efforts to reduce CFPB staffing, it is unclear when – or if – a reconsidered rule will be proposed and finalized,” he wrote in an email. “If the CFPB’s reconsideration or final rules take months or years to complete, the rule would remain enjoined in purgatory during that time.”
Maarec said it’s likely that the injunction will be appealed “and the litigation will grind on, leaving the market to address the myriad policy issues addressed by the final rules in bilateral agreements.”
Read the full piece here.