Regulators are directed to avoid reputation risk, identify banks that have engaged in unlawful debanking, and take appropriate remedial actions. ...more
8/15/2025
/ Anti-Discrimination Policies ,
Banking Sector ,
Banks ,
ECOA ,
Enforcement Actions ,
Executive Orders ,
Fair Lending ,
Financial Institutions ,
Financial Regulatory Agencies ,
FTC Act ,
Regulatory Oversight ,
Regulatory Reform ,
Reputation Management ,
Trump Administration
Banking organizations safekeeping digital assets for customers must do so in a safe and sound manner and in compliance with applicable laws and regulations....more
7/18/2025
/ Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Cryptocurrency ,
Custodians ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Joint Statements ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Regulatory Requirements ,
Risk Management
The OCC is restoring its former practices and policies under the Bank Merger Act to reinstate expedited merger reviews and streamlined business combination applications....more
5/19/2025
/ Acquisitions ,
Bank Merger Act ,
Banking Sector ,
Biden Administration ,
Expedited Actions Process ,
Financial Institutions ,
Interim Final Rules (IFR) ,
Mergers ,
OCC ,
Rescission ,
Trump Administration
The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities.
On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more
5/12/2025
/ Banking Sector ,
Banks ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Institutions ,
Interpretive Letters ,
New Regulations ,
OCC ,
Outsourcing ,
Regulatory Requirements ,
Risk Management
In a break from restrictive Biden-era policies, OCC-supervised banks may now engage in crypto without supervisory nonobjection, potentially opening new avenues for innovation....more
The FDIC seeks to stick to its statutory mandate while reducing impediments to fintech, innovation, mergers, bank formation, and efficient supervision....more
The CFPB’s proposal, its first attempt to regulate cryptocurrencies and stablecoins, is unlikely to survive the administration change....more
1/24/2025
/ Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Cryptocurrency ,
Digital Assets ,
Electronic Fund Transfer Act ,
Financial Institutions ,
FinTech ,
Gaming ,
Online Gaming ,
Proposed Rules ,
Regulation E ,
Stablecoins
“Fair access” banking laws, at the epicenter of the debates between ESG and “anti-woke” regulation and federal/state preemption, may see a resurgence under the incoming administration.
In recent years, the landscape of...more
1/8/2025
/ Banking Sector ,
Biden Administration ,
Compliance ,
Consumer Protection Laws ,
Dodd-Frank ,
Environmental Social & Governance (ESG) ,
Fair Access to Credit ,
Fair Lending ,
Financial Institutions ,
Financial Regulatory Reform ,
OCC ,
Preemption ,
Regulatory Agenda ,
Regulatory Freeze ,
State and Local Government ,
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
Regulators seek to provide clarity and transparency on the bank merger review process, but changes may increase application complexity and unpredictability.
Consistent with ongoing initiatives to strengthen US antitrust...more
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
On July 19, 2024, the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration...more
8/5/2024
/ AML/CFT ,
Anti-Money Laundering ,
Anti-Terrorism Financing ,
Bank Secrecy Act ,
Banks ,
Compliance ,
Customer Due Diligence (CDD) ,
Financial Institutions ,
Financial Regulatory Agencies ,
FinCEN ,
NPRM ,
Proposed Rules ,
Risk Assessment ,
Risk Management
With regulators keeping close watch, the results underscore the need for ongoing climate risk management investment and adaptation within the financial sector.
On May 9, 2024, the Board of Governors of the Federal...more
Banking agencies are alleged to have exceeded their congressional authorization, with potentially adverse consequences on banks and consumers.
On February 5, 2024, several banking trade groups[1] (the Plaintiffs) sued...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
The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions.
On November 7, 2023, the Consumer Financial Protection...more
Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting.
The New York State Department of Financial Services’ (DFS) amendments (the...more
The OCC outlines safety and soundness principles and appropriate risk management processes for its regulated institutions that engage in venture lending.
On November 1, 2023, the Office of the Comptroller of the Currency...more
11/29/2023
/ Banking Crisis ,
Banking Sector ,
Commercial Loans ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Lenders ,
New Guidance ,
OCC ,
Risk Management ,
State Charters
A proposed rule would lower the maximum amount that large debit card issuers can charge merchants for each transaction.
On October 25, 2023, the Board of Governors of the Federal Reserve System (FRB) published a proposal...more
Guidance for the largest US financial institutions is intended to promote climate risk management consistent with general safety and soundness practices.
On October 30, 2023, the three US federal bank regulatory agencies...more
11/8/2023
/ Banking Sector ,
Biden Administration ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
New Guidance ,
OCC ,
Policies and Procedures ,
Risk Assessment ,
Risk Management ,
Strategic Planning
A new program addresses innovative banking activities such as bank-fintech partnerships and digital assets while reinforcing guardrails around stablecoin activity.
On August 8, 2023, the Board of Governors of the Federal...more
8/16/2023
/ Banking Sector ,
Banks ,
Compliance ,
Digital Assets ,
Enforcement Programs ,
Federal Reserve ,
Financial Institutions ,
FinTech ,
FRB ,
Risk-Based Approaches ,
Stablecoins
Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions.
On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more
After a lengthy “holistic” review and a spring banking crisis, US bank capital requirements finally face overhaul.
On July 10, 2023, US Federal Reserve Board (FRB) Vice Chair for Supervision Michael Barr delivered a...more
7/21/2023
/ Banking Crisis ,
Banking Sector ,
Basel III ,
Capital Requirements ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Global Systemically Important Banks (G-SIBs) ,
Proposed Amendments ,
Risk Assessment ,
Risk Mitigation ,
SIFMA ,
Stress Tests
The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs.
On June 6, 2023, the Federal Deposit Insurance Corporation...more
6/23/2023
/ Banking Sector ,
FDIC ,
Financial Institutions ,
FinTech ,
FRB ,
Interagency Guidance ,
OCC ,
Risk Management ,
Third-Party ,
Third-Party Relationships ,
Third-Party Risk
The legislation mirrors anti-“industry boycott” legislation introduced or passed in other US states and provides more explicit rubrics of prohibited factors.
On May 5, 2023, Florida Governor Ron DeSantis signed into law...more