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
Earlier this year, the Federal Communications Commission (FCC) published a new report and order (“Order”) concerning revocation of consumer consent under the Telephone Consumer Protection Act (TCPA). The new rules revise how...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
On Sept. 17, the Consumer Financial Protection Bureau (CFPB) published guidance for federal and state consumer protection enforcement officials to use to prevent banks and credit unions from charging overdraft fees in certain...more
On Aug. 7, the Federal Communications Commission (FCC) voted to propose new rules to require callers to disclose if they are using artificial intelligence (AI) in robocalls and robotexts. If adopted, the new rules would set...more
On July 16, President Biden called on Congress to enact legislation to temporarily cap annual residential rent increases. Under the proposal, rental property owners with over 50 residential units in their portfolio would not...more
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
In a landmark decision issued on May 16, the Supreme Court held that the Consumer Financial Protection Bureau’s (CFPB) funding mechanism is constitutionally sound, as it does not violate the Appropriations Clause. The...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
The Federal Trade Commission (FTC) adopted a controversial rule for noncompete provisions today. As expected, the final regulation, which was first proposed in January 2023, will prohibit virtually all noncompete...more
The Federal Trade Commission (FTC) announced this week that it will finally hold its much-anticipated vote to finalize its controversial noncompete rule on Tuesday, April 23, 2024, at 2 p.m. The final regulation, which was...more
On April 7, Senate Commerce Committee Chair Maria Cantwell (D-WA) and House Energy and Commerce Committee Chair Cathy McMorris Rodgers (R-WA) released the text of the American Privacy Rights Act (APRA), a bipartisan and...more
On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) finalized a historic set of climate disclosure rules, which stand to be the most significant disclosure regime change since the Sarbanes-Oxley Act. The rule...more
On March 6, the Securities and Exchange Commission (“SEC”) voted along party lines to adopt its long-awaited climate-related disclosure framework for registrants. This “Final Rule” largely reflects the proposed rule put...more
In a move that aligns with conservative arguments that the Consumer Financial Protection Bureau (CFPB) has become a political arm of the White House, the agency finalized its controversial credit card late fee rule just two...more
On Feb. 8, the Federal Communications Commission (FCC) issued a unanimous declaratory ruling confirming the Telephone Consumer Protection Act’s (TCPA) restrictions on the use of “artificial or prerecorded voice” include...more
As abusive robocalls remain unpopular both politically and, in general, universally among the American people, lawmakers have once again thrown out the opening salvo in efforts to legislate against them this week with the “Do...more