On April 9, 2025, President Trump issued a memorandum directing federal agencies to begin repealing regulations deemed “clearly unlawful,” particularly those invalidated or undermined by recent Supreme Court rulings such as...more
In November of 2021, the President’s Working Group on Financial Markets, joined by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), issued a report formally...more
On March 14, President Trump issued an executive order (EO) titled “Continuing the Reduction of the Federal Bureaucracy,” which limits the Community Development Financial Institutions (CDFI) Fund to the minimum statutory...more
On Friday, March 14, 2025, the Senate advanced the Full-Year Continuing Appropriations and Extensions Act, 2025 (H.R. 1968), a continuing resolution (CR) that funds the federal government until Sept. 30, 2025. The House...more
After weeks of former CFPB Director Rohit Chopra emptying the shelves with dozens of new regulations, proposals and enforcement activity, the financial services industry now faces whiplash as the Trump administration takes...more
In the early days of the second Trump administration, the federal government has signaled a full-scale change in approach to digital assets. Gary Gensler is no longer the chairman of the Securities and Exchange Commission...more
2/5/2025
/ CFTC ,
Cryptocurrency ,
Digital Assets ,
Enforcement Actions ,
FinCEN ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Stablecoins ,
Trump Administration ,
U.S. Treasury
After weeks of emptying the shelves at the Consumer Financial Protection Bureau (CFPB) with dozens of enforcement actions, new rules, proposed regulations and guidance, President Donald Trump fired CFPB Director Rohit Chopra...more
On Dec. 12, the Consumer Financial Protection Bureau (CFPB) finalized a controversial rulemaking that would fundamentally alter how banks and credit unions offer overdraft services. The proposed rule was issued in January...more
12/19/2024
/ Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Unions ,
Excessive Fees ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Overdraft Fees ,
Overdraft Rule ,
Popular
On Dec. 17, the Federal Trade Commission (FTC) issued a final rule to limit certain industries’ use of so- called “junk fees,” concluding a rulemaking process that began in 2022 and ultimately drew over 72,000 public...more
On Dec. 3, 2024, the Consumer Financial Protection Bureau (CFPB) released a proposed rule that would treat data brokers as credit reporting agencies, subjecting them to requirements under the Fair Credit Reporting Act (FCRA)....more
On Wednesday, Dec. 4, President-elect Donald Trump announced his intention to nominate Paul Atkins as the next chair of the Securities and Exchange Commission (SEC). Atkins, who served as an SEC commissioner from 2002 to 2008...more
The Federal Trade Commission (FTC) is one of the independent agencies expected to undergo considerable changes in rulemaking priorities once President-elect Trump enters office. Chairwoman Lina Khan is expected to step down...more
During the 2024 campaign, President-elect Donald Trump took significant steps to embrace digital assets and the industry that has developed around them, positioning himself as a champion of crypto. In a speech delivered at...more
11/15/2024
/ Bitcoin ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Financial Institutions ,
Financial Services Industry ,
Popular ,
Securities and Exchange Commission (SEC) ,
Trump Administration
Under the second Trump administration, the Securities and Exchange Commission (SEC) is likely to see broad changes in regulatory and enforcement initiatives once Chairman Gary Gensler leaves the commission, as is expected....more
As we continue to analyze the strength of former President Trump’s red wave, one thing is clear: a number of federal agencies are poised for a major shift in their rulemaking agendas, priorities, staffing and approach to...more
On Oct. 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule on Personal Financial Data Rights, which changes the way financial institutions hold and distribute customer-generated data. The rule, once...more
On Wednesday, Sept. 25, 2024, the House and Senate passed the Continuing Appropriations and Extensions Act, 2025 (H.R. 9747), or the three-month continuing resolution (CR) until Dec. 20, 2024. The CR was adopted by a vote of...more
On Sept. 17, 2024, the Federal Deposit Insurance Corporation (FDIC) Board met to finalize an updated approach to increase scrutiny of bank mergers, particularly those that would result in a bank with over $100 billion in...more
9/26/2024
/ Banking Sector ,
Banks ,
Biden Administration ,
Department of Justice (DOJ) ,
Executive Orders ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
Merger Reviews ,
Mergers ,
OCC
In a series of rulings at the end of its term, the Supreme Court fundamentally changed administrative law precedents, including some that have held firm for more than 40 years. The decisions will curtail federal agencies’...more
In May 2024, the Federal Housing Finance Agency (FHFA) published a Request for Input (RFI) titled “Federal Home Loan Bank Core Mission Activities and Mission Achievement” with comments due to the FHFA on July 15, 2024. This...more
On June 11, 2024, the Consumer Financial Protection Bureau (CFPB) proposed a rule that would introduce sweeping changes to the process of medical debt credit reporting and the use of information related to the nonpayment of...more
On June 3, the Consumer Financial Protection Bureau (CFPB) published a final rule to create a registry of nonbank companies that have entered into consent agreements or who have otherwise been found by the bureau to be in...more
On May 30, the Consumer Financial Protection Bureau (CFPB) released a Request for Information (RFI) regarding mortgage closing costs. The seven-page RFI provided nine questions about the impact of closing costs, and how they...more
After much anticipation, the House passed House Financial Services Chairman Patrick McHenry (R-NC) and House Agriculture Chairman GT Thompson’s (R-PA) crypto regulatory legislation, the Financial Innovation and Technology for...more
On April 23, the U.S. Department of Labor (DOL) published the “Retirement Security Rule: Definition of an Investment Advice Fiduciary,” which makes changes to the definition of “ fiduciary” for purposes of the Employee...more