On August 7, President Trump issued an Executive Order titled "Guaranteeing Fair Banking for All Americans" (the Order). The purpose of the Order is to prohibit financial institutions from engaging in "politicized or unlawful...more
On March 17, the Office of the Comptroller of the Currency (OCC) announced that the agency granted conditional approval for a leading FinTech company to indirectly acquire a nationally chartered bank, enabling the FinTech...more
In a pivotal development, the U.S Court of Appeals for the Fifth Circuit has stayed enforcement of the Consumer Financial Protection Bureau’s (CFPB) Small Business Lending Rule — also known as Section 1071 of the Dodd-Frank...more
2/14/2025
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Dodd-Frank ,
Enforcement Actions ,
Financial Institutions ,
Lenders ,
Regulatory Requirements ,
Reporting Requirements ,
Section 1071 ,
Small Business Loans ,
Stays
On May 17, 2024, the Consumer Financial Protection Bureau (CFPB) announced its intention to extend the deadlines for compliance with Section 1071 of the Dodd-Frank Act (Section 1071) requiring data collection and reporting...more
5/23/2024
/ CFPB v Community Financial Services Association of America ,
Constitutional Challenges ,
Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Dodd-Frank ,
Financial Institutions ,
Financial Services Industry ,
Regulatory Requirements ,
Section 1071 ,
Small Business ,
Statutory Deadlines