Banking Sector, Financial Institutions, Congressional Review Act

FDIC Rescinds 2024 Merger Guidelines; House Votes to Repeal OCC Rule Under CRA

Sheppard Mullin Richter & Hampton LLP on 5/23/2025

On May 20, federal merger policy took a sharp turn as the FDIC voted to rescind its 2024 merger guidelines, and the U.S. House passed a Congressional Review Act (CRA) resolution to repeal the OCC’s 2024 merger rule....more

Resolutions to nullify CFPB overdraft rule introduced in House, Senate

Ballard Spahr LLP on 2/28/2025

The Chairmen of the House and Senate committees with jurisdiction over banking issues have introduced Congressional Review Act resolutions to nullify the CFPB’s overdraft rule. House Financial Services Committee Chairman Rep....more

Plaintiffs Pursuing Increased Class Action Claims for Overdraft Fees and Charges Against Customers

Spilman Thomas & Battle, PLLC on 3/22/2023

With plaintiff attorneys seeing potential large dollar settlements and verdicts, along with increased regulatory scrutiny, banks need to review their overdraft practices. As noted by the American Bankers Association, banks...more

CFPB Issues Request for Information on Expanding Access to Credit and Further Protecting Consumers from Credit Discrimination

Ballard Spahr LLP on 7/31/2020

On July 28, 2020, the CFPB issued a request for information (“RFI”) seeking public input on how best to create a regulatory environment that expands access to credit and ensures consumers and communities are protected from...more

CFPB’s Effort to Axe Class Waivers Gets Axed by the Senate

Bradley Arant Boult Cummings LLP on 10/27/2017

By the hair of its chinny chin chin, the Senate voted on Tuesday to nullify the CFPB’s previously announced final rule that would have prohibited banks, credit card companies, and other financial service entities from...more

GAO determination that leveraged lending guidance is subject to CRA could foreshadow similar fate for CFPB indirect auto finance...

Ballard Spahr LLP on 10/27/2017

In May 2017, we blogged about press reports that the Government Accountability Office (GAO) had accepted a request from Senator Patrick Toomey for a determination concerning whether the CFPB Bulletin 2013-02, titled “Indirect...more

Banking trade groups urge creation of commission to run CFPB

Ballard Spahr LLP on 12/13/2016

In a letter sent to Majority Leader McConnell and Minority Leader-elect Schumer, the Consumer Bankers Association, the Credit Union National Association, the Independent Community Bankers of America, and the National...more

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