News & Analysis as of

State Banks

Ballard Spahr LLP

Acting Comptroller Hsu pressured to repeal preemption regs by Conference of State Bank Supervisors and consortium of consumer...

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On July 19, we blogged about comments Acting Comptroller Hsu made before the Exchequer Club on July 17 particularly his decision to review prior OCC preemption determinations in light of the Supreme Court’s recent opinion in...more

Ballard Spahr LLP

Colorado appeals to Tenth Circuit from Federal District Court order granting plaintiffs’ motion for a preliminary injunction in...

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On the very last day for filing an appeal, the Colorado Attorney General and UCCC Administrator filed a Notice of Appeal to the Tenth Circuit Court of Appeals of the Colorado federal district court’s order in favor of the...more

Cozen O'Connor

The State AG Report – 6.6.2024

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Here are curated AG and federal regulatory news stories highlighting key areas in which state and federal regulators’ decisions are having an impact across the US: • Proposed Settlement Between AGs, DOJ, and NCAA Would...more

Cozen O'Connor

SCOTUS Adopts Favorable Standard for States’ Ability to Enforce Consumer Protection Laws Regulating National Banks

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The U.S. Supreme Court issued an opinion in Cantero v. Bank of America, N.A., No. 22-529, allowing states to enforce state consumer financial protection laws against both state and national banks. The Court was reviewing the...more

Morrison & Foerster LLP

U.S. Supreme Court Directs Second Circuit to Perform a Barnett Bank Analysis

On May 30, 2024, the U.S. Supreme Court held in a unanimous decision that the preemption standard codified in section 1044 (12 U.S.C. § 25b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) requires...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: What the Recent Developments in Federal Preemption for National and State Banks Mean for...

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Providers of consumer financial services that rely on federal preemption to charge customers uniform interest rates and fees on a nationwide basis are currently facing a series of legislative and litigation challenges. In...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, August 17, 2023

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August 16, 2023- The U.S. Department of the Treasury's Office of Foreign Assets Control imposed sanctions on three entities tied to a sanctions evasion network attempting to support arms deals between Russia and the...more

Saiber LLC

United States Supreme Court Asked to Resolve Circuit Split Over Whether Federally Chartered Banks Must Comply With State Laws...

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In Cantero vs. Bank of America, N.A., mortgage borrowers are asking the Supreme Court of the United States to reverse a Second Circuit ruling that federally-chartered banks need not comply with state laws that require the...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, December 14, 2022

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December 13, 2022- State bank supervisors have appointed New York State Department of Financial Services Superintendent Adrienne A. Harris to serve as the state banking supervisor's representative on the Financial Stability...more

Pillsbury Winthrop Shaw Pittman LLP

NYDFS Continues Series of Fair Lending Enforcement Actions against New York State-Chartered Banks

NYDFS is closely evaluating fair lending compliance at the institutions it regulates, and bringing enforcement actions based on statistical analyses of lenders’ loan portfolios. NYDFS has entered into a series of consent...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, September 22, 2022

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September 21, 2022- Under Secretary for Domestic Finance Nellie Liang offered remarks on the three digital assets reports issued pursuant to President Joe Biden's Executive Order 14067 on "Ensuring Responsible Development...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday, July 20, 2022

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July 19, 2022- The U.S. House Committee on Financial Services Subcommittee on Investor Protection, Entrepreneurship and Capital Markets held a hearing entitled, "Oversight of the SEC's Division of Enforcement."...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, July 9, 2022

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July 8, 2022- Federal Reserve Board Vice Chair Lael Brainard gave a speech at the Bank of England Conference entitled, "Crypto-Assets and Decentralized Finance through a Financial Stability Lens."...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday, June 23, 2022

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Congress- U.S. Senate- Committee on Banking, Housing, and Urban Affairs- Hearing: The Semiannual Monetary Policy Report to Congress- June 22, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a...more

Paul Hastings LLP

Daily Financial Regulation Update -- Saturday, June 4, 2022

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Federal Agencies- Federal Reserve Board- Speech: Risk in the Crypto Markets- June 3, 2022- Federal Reserve Board Governor Christopher J. Waller gave a speech at the SNB-CIF Conference on Cryptoassets and Financial...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter-September 2020 #3

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Like most industries today, Consumer Finance Services businesses are significantly impacted by the novel coronavirus (COVID-19). In response, Troutman Pepper has developed a dedicated COVID-19 Resource Center to guide clients...more

Ballard Spahr LLP

Seven states and D.C. file lawsuit challenging FDIC “Madden fix” rule

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Three weeks after California, Illinois and New York sued the Office of the Comptroller of the Currency (OCC) to enjoin its final rule purporting to override the Second Circuit’s Madden decision as to national banks and...more

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