Fair access banking laws, at the epicenter of the debates between ESG and so-called antiwoke regulation and federal/state preemption, may see a resurgence under the new presidential administration.
In recent years, the...more
A Republican Congress and the incoming Trump administration may employ the CRA to quickly overturn recent rules that faced heavy criticism from the financial services industry....more
1/22/2025
/ Congressional Review Act ,
Consumer Financial Protection Bureau (CFPB) ,
Deregulation ,
Digital Assets ,
FDIC ,
Financial Regulatory Reform ,
Financial Services Industry ,
FinCEN ,
IRS ,
OCC ,
Open Banking ,
Trump Administration
The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more
10/30/2024
/ Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Open Banking ,
Personal Data ,
Sensitive Personal Information
The proposal would establish stricter oversight of certain transactions and responds to concerns that large asset managers may be exerting influence on FDIC-supervised institutions.
On July 30, 2024, the Board of...more
8/9/2024
/ Acquisitions ,
Banking Sector ,
Banks ,
Change in Control ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
NPRM ,
OCC ,
Proposed Amendments ,
Publicly-Traded Companies
The centralized repository would assist the CFPB and law enforcement in detecting patterns of misbehavior and recidivism adversely affecting consumers.
On June 3, 2024, the Consumer Financial Protection Bureau (CFPB)...more
As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions.
On January 24, 2024, the Consumer Financial...more