Press Coverage September 24, 2025

Banks Push Back on CFPB Plan to Curb Nonbank Supervision

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Chris J. Willis

Chris Willis, co-leader of Troutman Pepper Locke’s Consumer Financial Serives Regulatory Practice Group, was quoted in the September 24, 2025 American Banker article, “Banks Push Back on CFPB Plan to Curb Nonbank Supervision.”

  • “If the largest of the larger participants are still subject to supervision, but everybody else isn’t, then that immediately creates sort of an imbalance in regulatory burden and pressure,” said Chris Willis, a partner at Troutman Pepper Locke, who has discussed the larger participant rule on a recent podcast. “It may give rise to feelings among the largest of the larger participants that they’re being unfairly given a disadvantage compared to their medium- size and small brethren. That’s been a frequent criticism of large banks, that they have unfair competition from nonbanks who aren’t subject to the same rules.”
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