On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing the requirements of...more
On January 23, 2025, the United States Supreme Court ruled on McHenry v. Texas Top Cop Shop, Inc., granting the Government’s application to stay the injunction of the Corporate Transparency Act (“CTA”) initially ordered by...more
1/27/2025
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Beneficial Owner ,
Constitutional Challenges ,
Corporate Transparency Act ,
Filing Requirements ,
FinCEN ,
Injunctions ,
Legislative Agendas ,
Reporting Requirements ,
Stays ,
U.S. Treasury
For followers of developments related to National Bank Act (NBA) preemption and the United States Supreme Court’s related decision in Cantero v. Bank of America, N.A., 602 U.S. 205 (2024), the waning days of 2024 proved...more
1/17/2025
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Banking Regulators ,
Banking Sector ,
Banks ,
Compliance ,
Dodd-Frank ,
Escrow Accounts ,
Financial Institutions ,
Financial Services Industry ,
Illinois ,
Interchange Fees ,
National Bank Act ,
OCC ,
Preemption ,
SCOTUS
Congress has voted to overturn the Office of the Comptroller of the Currency’s (“OCC’s”) “true lender” rule under the Congressional Review Act (“CRA”), and the President has signed the resolution. Repeal of the “true lender”...more
7/22/2021
/ Appeals ,
Banks ,
Congressional Review Act ,
FDIC ,
FinTech ,
Interest Rates ,
Loans ,
OCC ,
Predatory Lending ,
Preemption ,
True Lender