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Trump issues Executive Order prohibiting ‘debanking’

President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more

Federal banking regulators to testify at House Financial Services Committee May 19 hearing

On May 19, 2021, the House Financial Services Committee will hold a hearing, “Oversight of Prudential Regulators: Ensuring the Safety, Soundness, Diversity, and Accountability of Depository Institutions.”  The scheduled...more

House Financial Services Committee to hold Sept. 10 hearing on protecting student borrowers

The Committee on Financial Services will hold a hearing entitled “A $1.5 Trillion Crisis: Protecting Student Borrowers and Holding Student Loan Servicers Accountable.” The hearing, scheduled to take place on Tuesday,...more

Connecticut Banking Dept. takes no-action position on new demographic data reporting requirement for sales finance companies

In August 2018, we reported about significant changes to Connecticut’s licensing laws for consumer financial services providers that were to take effect on October 1, 2018.  ...more

OCC Report Identifies Risks to Banks, Sets Supervisory Priorities

A new report issued by the federal Office of the Comptroller of the Currency (OCC) identifies top safety and soundness risks to national banks and federal savings associations, as well as OCC supervisory priorities for the...more

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