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Paul Hastings LLP

The GENIUS Act: A Comprehensive Guide to US Stablecoin Regulation

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Today marks a historic milestone in U.S. digital asset policy. The President signed the GENIUS Act into law following its bipartisan passage by 308-122 in the House on July 17 and 68-30 in the Senate on June 17. The GENIUS...more

Hogan Lovells

At long last - New opportunities for foreign investment in Vietnam’s banking sector

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Vietnam's banking sector, historically constrained by tight foreign ownership restrictions and capital adequacy demands, is set to benefit from Decree No. 69/2025/ND-CP, in effect since 19 May 2025. This Decree strategically...more

White & Case LLP

Towards more efficient banking supervision: clear rules for the SSM and ESAs

White & Case LLP on

More than a decade after the establishment of the Single Supervisory Mechanism and the European Supervisory Authorities, European banking supervision remains highly complex. This article looks at the issues raised during our...more

Morrison & Foerster LLP

A Hard Reset on 1033?: A Look at What’s Next for Open Banking

The financial services industry generally, and data aggregators specifically, have watched intently as the Trump administration has altered the course of the Consumer Financial Protection Bureau (CFPB or “Bureau”), in an...more

Cooley LLP

CFPB Moves to Vacate Its Own Open Banking Rule Citing Legal Deficiencies and Overreach

Cooley LLP on

On May 30, 2025, the Consumer Financial Protection Bureau (CFPB) took the rare step of asking the US District Court for the Eastern District of Kentucky to vacate the CFPB’s own final rule implementing Section 1033 of the...more

BakerHostetler

US Financial Regulators Chart New Path Forward for the Crypto Industry

BakerHostetler on

On April 24, the Federal Reserve withdrew its prior guidance for banks related to their crypto-asset and dollar token activities and also announced related changes to its expectations for these activities....more

Sheppard Mullin Richter & Hampton LLP

New York Enacts BNPL and Overdraft Fee Restrictions

On May 9, the NYDFS announced that Governor Kathy Hochul signed New York’s FY2026 Budget into law, enacting two major consumer financial protection measures. The budget establishes a licensing and supervision framework for...more

A&O Shearman

GHOS Meeting: Basel III implementation and climate-related financial risks

A&O Shearman on

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision (BIS), met to discuss the implementation of Basel III and its work on climate-related...more

Paul Hastings LLP

Banking Nominees Advance, SEC Tackles Tokenization and OCC Issues Custody Guidance

Paul Hastings LLP on

Several significant regulatory and policy developments took place this week in Washington. The Senate banking committee advanced several key nominations, including Michelle Bowman to serve as vice chair for supervision at the...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2025 - "I'll Remember April and the CFPB"

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In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more

Holland & Knight LLP

CFPB's Overdraft Rule and Big Tech Payment Apps Rule Set for Repeal After Congressional Votes

Holland & Knight LLP on

Among other significant rulemakings that the Consumer Financial Protection Bureau (CFPB) finalized in the waning days of the Biden Administration were 1) an overdraft fees final rule that applies to banks and credit unions...more

White & Case LLP

Joined-up thinking: Could a wave of European banking consolidation be on the way?

White & Case LLP on

The value of European banking M&A hits its highest point in a decade as lenders hunt for growth across the continent - A potential ramping-up in European banking M&A has become a hot topic as a lower net interest margin...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Government Abolishes Payment Systems Regulator

On 11 March 2025, the UK government announced its decision to abolish the Payment Systems Regulator (PSR) as part of a broader initiative to reduce regulatory burdens and stimulate economic growth. This action is intended to...more

Ballard Spahr LLP

Resolutions to nullify CFPB overdraft rule introduced in House, Senate

Ballard Spahr LLP on

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

McGlinchey Stafford

CFPB’s Open Banking Rules: Dead on Arrival or Alive and Well?

McGlinchey Stafford on

The Consumer Financial Protection Bureau (CFPB) finalized its long-awaited Personal Financial Data Rights rules under Section 1033 of the Dodd-Frank Act, marking a significant milestone in the regulation of...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Sheppard Mullin Richter & Hampton LLP

CFPB Release Final Rule on Overdraft Fees

On December 12, the CFPB released the final version of its overdraft rule that was first proposed in January. (We discussed it here.) Currently, financial institutions that extend overdraft protection are exempt from certain...more

Perkins Coie

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

Perkins Coie on

Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

Jenner & Block

Client Alert: A Second Wave: FinCEN and SEC Further Extend Investment Advisers’ AML Obligations with New CIP Requirements

Jenner & Block on

In a sequel to FinCEN’s proposal earlier this year to extend anti-money laundering and Bank Secrecy Act regulations to investment advisers (AML/BSA Proposal), on May 13, 2024, FinCEN and the SEC jointly issued a new Notice of...more

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | Are Regulators Dictating Fintech Deal Terms?

Skadden presents the inaugural episode of our podcast “Fintech Focus,” which will explore current trends, news and developments in the fintech space. European counsel and host Joseph Kamyar kicks off the series with colleague...more

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

Hogan Lovells

The UK Infrastructure Bank Act 2023 has been passed by Parliament

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Giving the UK Infrastructure Bank a basis in primary legislation not only sends a message about the intended permanence of UKIB, but also provides greater clarity about its governance, reporting and accountability....more

Orrick, Herrington & Sutcliffe LLP

OCC establishes Office of Financial Technology

On March 30, the OCC announced the establishment of the Office of Financial Technology, and selected Prashant Bhardwaj to lead the office as Deputy Comptroller and Chief Financial Technology Officer beginning April 10...more

Brownstein Hyatt Farber Schreck

Biden Administration Announces Crackdown on “Junk Fees”

On Feb. 1, 2023, the Biden administration released a fact sheet describing actions taken by the White House that continue a focus on so called “junk fees.” The announcement, which was done along with several independent...more

Morgan Lewis - All Things FinReg

Federal Banking Agencies Adopt New Computer-Security Incident Notification Requirements

The three federal banking agencies (i.e., the Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency—collectively, the Agencies) published a final rule (the Rule)...more

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