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Paul Hastings LLP

Banking Regulators Clarify Crypto Custody Expectations, Congress Advances Landmark Digital Asset Legislation and Senate Releases...

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In a pivotal week for digital asset policy, federal banking regulators issued long-awaited guidance outlining risk-management expectations for crypto-asset safekeeping activities. The OCC, Federal Reserve and FDIC released a...more

Goodwin

Acting Comptroller of the Currency Discusses OCC’s Regulatory Agenda

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In recent remarks delivered at the U.S. Chamber of Commerce Capital Markets Summit, Acting Comptroller of the Currency, Rodney E. Hood, outlined the OCC’s strategic priorities for building a resilient and revitalized federal...more

Benesch

AI Reporter - May 2025

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The use of AI in banking was a topic in April, as Bank of America revealed it will spend $4 billion on AI initiatives in the coming year. The bank cited AI’s usefulness in reducing IT support calls and the over 90% usage...more

Eversheds Sutherland (US) LLP

CFPB withdraws dozens of guidance documents in sweeping regulatory shift

Consistent with President Trump’s de-regulatory agenda, the Consumer Financial Protection Bureau (CFPB or Bureau) is withdrawing over five dozen of its guidance documents, including interpretive rules, advisory opinions, and...more

Wilson Sonsini Goodrich & Rosati

Focus on Fintech – Q1 2025

Welcome to Wilson Sonsini’s Focus on Fintech newsletter. This quarterly newsletter provides ongoing analysis and commentary on regulatory developments impacting the fintech industry. In this issue, our attorneys discuss...more

Cooley LLP

Slimmed-Down CFPB to Focus on Bank Oversight, Concrete Consumer Harm

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On April 16, the Consumer Financial Protection Bureau (CFPB) sent an internal memorandum to CFPB staff describing its 2025 supervisory and enforcement priorities. Not surprisingly, the memo highlights its intended departure...more

Hogan Lovells

UK PRA Business Plan 2025/26: Priorities evolving towards increasing emphasis on competitiveness and growth

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The PRA has published its Business Plan for 2025/26, setting out the workplan for each of its strategic priorities and strategy to advance its primary and secondary objectives. The PRA comments that, alongside its continual...more

Sheppard Mullin Richter & Hampton LLP

OCC Signals Shift on Crypto and Debanking Under Acting Comptroller Hood 

On March 18, Acting Comptroller of the Currency Rodney Hood reiterated the OCC’s commitment to ensuring fair access to banking services, including for cryptocurrency firms. Speaking at a retail banking industry conference,...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 57: Opening a Path for New Bank Formations

The Klaros Group’s Michele Alt joins Orrick partners Jerry Buckley, Caroline Stapleton and Walt Zalenski to explore actions needed to facilitate new bank formations, which have slowed to trickle in recent years. The...more

A&O Shearman

Regulatory monitoring - February 2025

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1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General - (i) International - BCBS: Work programme and strategic priorities for 2025/26 Status: Final - The BCBS has published its work programme and strategic...more

Womble Bond Dickinson

Crypto Regulatory Roundup - Q1 2025

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Since President Trump’s inauguration, the crypto industry has been on a tear. And no, this time, we’re not just talking about the price of Bitcoin. In the past two months, Washington D.C. has taken a deliberate interest in...more

Paul Hastings LLP

Congress Crypto Updates

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Over the past few weeks, Congress has focused on digital asset regulations through various hearings and press conferences. Committees held key hearings to seek regulatory clarity, proposed new legislation and created a...more

Mayer Brown

What to Expect in Banking In 2025

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Since President Donald Trump took office last month, his actions have marked a significant shift in federal policy, paving the way for the creation of a new regulatory framework impacting banks, financial services, and the...more

Orrick, Herrington & Sutcliffe LLP

Fed’s Waller speaks on possible stablecoin use in U.S. banking

On February 12, Fed Member Christopher Waller spoke at a stablecoin conference. He emphasized stablecoins must demonstrate both a “clear use case and … a clear commercial case to be economically viable.” (Italics omitted.) A...more

A&O Shearman

UK Treasury Committee publishes call for evidence on AI in financial services

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The UK Treasury Committee has published a call for evidence on AI in financial services, in light of growing use of the technology across the sector including in retail banking, investment banking, insurance and pensions...more

Cadwalader, Wickersham & Taft LLP

Turn Signal?

What is the direction of bank supervision and regulation under the Trump administration? As one would expect in these early days, the picture is evolving. A little over two weeks ago, the FDIC’s Acting Chairman, Travis Hill,...more

Troutman Pepper Locke

Treasury Secretary Bessent to Appoint Rodney E. Hood as First Deputy Comptroller of the OCC

Troutman Pepper Locke on

On February 7, Secretary of the Treasury Scott Bessent announced that he will appoint Rodney E. Hood as a Deputy Comptroller and designate him as the First Deputy Comptroller of the Office of the Comptroller of the Currency...more

Cadwalader, Wickersham & Taft LLP

It’s Been Two Weeks and We Have a 2025 Crypto Compendium

The volume of news coming out from regulatory Washington, spurred by Executive Orders and new agency heads has been impressive since Trump took office on January 20. But, the amount of movement regarding regulation of crypto...more

Morrison & Foerster LLP

FinReg Currents - Week 3

Each week of the first 100 days of the new Trump Administration, we will publish updates on key federal financial services regulatory and related developments. This week, we review the following developments as of Wednesday: ...more

A&O Shearman

UK Financial Conduct Authority responds to Government call for regulators to support growth

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The Financial Conduct Authority has published a letter (dated January 16, 2025) from Nikhil Rathi, FCA Chief Executive, sent to the Government, setting out its work to ensure that it is supporting the Government's U.K. growth...more

Cadwalader, Wickersham & Taft LLP

Changes Afoot

As the new administration settles in, it has begun to catalyze significant changes in the bank supervisory and regulatory environment. The FDIC is the first mover in this effort. Longtime director and sometime Chairman Martin...more

Paul Hastings LLP

State-Level Developments: The Regulatory Landscape for Digital Assets

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As we begin the 119th Congress, the nation is also preparing for the new administration to take office in just a few weeks. While federal action on digital assets remains a key focus, this week’s Crypto Policy Tracker shifts...more

Davis Wright Tremaine LLP

Fintechs Branching Into the United States

The federal banking agencies under a second Trump Administration are expected to be more receptive to industry proposals geared toward growth. We've previously explored national trust banks to streamline state licensing....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

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Finalizes Rule To Subject Large Payment Apps to Direct Supervision

On November 21, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule that deems payment app providers “larger participants” subject to the agency’s direct supervision (Rule)....more

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