Fintech · Industry brief

On July 6, the Consumer Financial Protection Bureau released its 2026 regulatory agenda, reflecting a significant shift toward deregulation and reconsideration of rules from the prior administration. Key items include proposed rules reconsidering the 2017 payday lending rule (NPRM anticipated July 2026), the open banking §1033 rule (NPRM anticipated July 2026), and larger participant definitions across automobile financing, debt collection, consumer reporting, and money transfer markets (NPRMs anticipated September 2026). The agenda also includes final rules anticipated for mortgage servicing streamlining (August 2026), remittance transfer disclosures (November 2026), small business lending data collection reconsideration (effective July 2026), and equal credit opportunity act clarifications (effective July 2026). Multiple items are designated as deregulatory under Executive Order 14192, signaling the administration's continued prioritization of regulatory streamlining and reduced supervisory reach.

The CFPB resolved a fintech's compliance failures without filing a formal enforcement action, marking a shift in its enforcement approach toward collaboration and voluntary fixes rather than traditional penalties. The agency is prioritizing cases with demonstrable consumer harm and encouraging self-reporting, as evidenced by the company refunding overdraft and late fees while the CFPB monitors ongoing system corrections. Additionally, the CFPB rescinded a 2020 advisory opinion on June 17th that had permitted Special Purpose Credit Programs to use race, national origin, or sex as eligibility criteria, with the rescission driven by the agency's April 2026 Regulation B amendments that now prohibit for-profit SPCPs from using these characteristics. The FDIC proposed rules in June that would raise the asset threshold separating small from large institutions from $10 billion to $30 billion and cut assessment rates across the board, while also modernizing confidential supervisory information sharing to allow banks to share CSI with affiliates, counsel, auditors, service providers including fintechs, and potential merger partners without prior FDIC approval if confidentiality agreements are in place.

The UK investment sector recorded 34 M&A deals in H1 2026, up 13% from H1 2025, with Q2 seeing 15 transactions announced. Wealth management and financial planning dominated deal activity at over 70% of total deal count. Notable transactions included U.S.-based PE firm Motive Partners' investment in pension platform Mobius Life (£30bn assets under administration), XPS Group's acquisition of actuarial consultancy APR Actuarial Solutions to expand into UK general insurance, and Dublin-based Goodbody's acquisition of Belfast advice firm Legacy Wealth Management marking its UK re-entry. Private equity remained the most prolific acquirer at 56% of acquisitions, while overseas acquirers increased their share by 75% year-over-year. Deal values concentrated at the lower end with most below £25m, though larger deals over £100m increased 125% versus H1 2025.