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
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
/ Appeals ,
Banking Regulators ,
Banking Sector ,
Banks ,
Compliance ,
Dodd-Frank ,
Escrow Accounts ,
Financial Institutions ,
Financial Services Industry ,
Illinois ,
Interchange Fees ,
National Bank Act ,
OCC ,
Preemption ,
SCOTUS
With the amount of commercial real estate loans scheduled for maturity over the next several years expected to increase significantly, there is accompanying heightened risk that some borrowers may be unable to replace their...more
11/7/2024
/ Banking Sector ,
Banks ,
Borrowers ,
Commercial Loans ,
Commercial Real Estate Market ,
Lenders ,
Loans ,
New Guidance ,
OCC ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management
When following supervisory scrutiny of fees charged to bank customers, the activities of the Consumer Financial Protection Bureau, or CFPB, are often the focus.
The Minnesota Bankers Association and Lake Central Bank of...more
9/25/2023
/ Banking Sector ,
Class Action ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Fees ,
Financial Institutions ,
Financial Regulatory Reform ,
Financial Services Industry ,
Insufficient Funds ,
Unfair or Deceptive Trade Practices
On June 6, 2023, the Board of Governors of the Federal Reserve System (the Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC, and collectively with the...more
When following supervisory scrutiny of fees charged to bank customers, the Consumer Financial Protection Bureau’s (CFPB) activities are often the focus. The Minnesota Bankers Association and Lake Central Bank of Minnesota,...more
7/28/2023
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
Financial Services Industry ,
FTC Act ,
New Guidance ,
Overdraft Fees ,
Unfair or Deceptive Trade Practices
In the fourteen years since the 2008 financial crisis, significant actions have been taken by Federal banking agencies to make the largest financial institutions more resilient and less likely to fail and to require planning...more