News & Analysis as of

Banking Sector Trump Administration

Sheppard Mullin Richter & Hampton LLP

Senate Confirms Jonathan Gould as Comptroller of the Currency

On July 10, 2025, the U.S. Senate confirmed Jonathan Gould as Comptroller of the Currency in a 50–45 vote. Gould will serve a five-year term and returns to the OCC, where he previously served as Chief Counsel and Senior...more

Vedder Price

OCC Ends Use of Disparate Impact in Fair Lending Supervision

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The Office of the Comptroller of the Currency (“OCC”) has formally revised its fair lending examination procedures, announcing in Bulletin 2025-16, issued on July 14, 2025, that it has eliminated all references to disparate...more

Orrick, Herrington & Sutcliffe LLP

OCC’s new comptroller of the currency is Jonathan Gould

On July 15, the OCC announced that Jonathan V. Gould has taken office as the 32nd comptroller of the currency, following his nomination by President Donald J. Trump on February 11 and confirmation by the U.S. Senate on July...more

Stinson LLP

Federal Government Initiatives Combat Fraud and Promote Digitalization of Payments

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Continuing the war on fraud and the attendant financial losses for U.S. businesses, consumers and government alike, the U.S. Department of the Treasury and federal banking agencies have launched a wide-ranging initiative...more

GeoDataVision

The Community Reinvestment Act: What the Trump Administration Should Do

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Bank regulators have announced their intention to repeal the 2023 CRA Rule. But it would be a mistake to stop there. For more than a decade there’s been a clamoring to “modernize” the CRA regulations. If the Administration...more

Troutman Pepper Locke

NYC Comptroller Requested Stronger Protections for New Yorkers Amidst Attenuated CFPB Authority

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New York City Comptroller Brad Lander released a report titled “Standing Up for New York Consumers – How New York State and New York City can Strengthen Consumer Financial Protection in the Trump Era,” which called for the...more

Orrick, Herrington & Sutcliffe LLP

Sen. Warren pens letter against removing the enhanced supplementary leverage ratio for banks

On June 23, the Ranking Member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sen. Elizabeth Warren (D-MA), penned a letter raising concerns over reports that the Fed, the FDIC, and the OCC intended to...more

Orrick, Herrington & Sutcliffe LLP

President Trump signs law rescinding OCC rule on bank mergers

On June 20, President Trump signed into law S.J. Res. 13, which of the final rule submitted by the OCC titled “Business Combinations Under the Bank Merger Act.” As previously covered by InfoBytes, the OCC approved a final...more

Orrick, Herrington & Sutcliffe LLP

Bowman confirmed as Fed Vice Chair of Supervision

On June 4, the U.S. Senate voted to confirm Michelle Bowman as Vice Chair for Supervision of the Board of Governors of the Fed for a term of four years. President Trump planned to nominate Fed Governor Michelle Bowman as the...more

Mintz

Federal Reserve Disbands Climate-Focused Internal Groups

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It has been reported that the Federal Reserve has disbanded certain internal groups that were intended to develop “institutional capacity and knowledge” with respect to climate risk. Specifically, among the groups that have...more

Eversheds Sutherland (US) LLP

Syria sanctions lifted after decades

On May 23, 2025, the Office of Foreign Assets Control (OFAC) issued General License 25 (GL 25), authorizing transactions prohibited by the Syrian Sanctions Regulations, effectively lifting sanctions on Syria. This comes 10...more

Latham & Watkins LLP

OCC Bank Merger Rule Rescinded in Latest Regulatory Reversal

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The OCC is restoring its former practices and policies under the Bank Merger Act to reinstate expedited merger reviews and streamlined business combination applications....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

GeoDataVision

The Impact of Trump’s Executive Order Regarding Disparate Impact

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Just when you thought the flurry of executive orders pertaining to “deregulation” might have slowed down, the President signed, on April 23, 2025, Executive Order 14281, “Restoring Equality of Opportunity and Meritocracy.”...more

Ballard Spahr LLP

Trump to nominate CFPB nominee to Treasury Department position

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Treasury Secretary Scott Bessent announced May 9 that President Trump intends to nominate Jonathan McKernan, his nominee to head the CFPB, as the Undersecretary of Domestic Finance at Treasury....more

Troutman Pepper Locke

Treasury Announces President Trump’s Intent to Nominate McKernan as Undersecretary of Domestic Finance

Troutman Pepper Locke on

The U.S. Department of the Treasury announced President Trump’s intent to nominate Jonathan McKernan as the Undersecretary of Domestic Finance. The press release states that McKernan’s continued service at Treasury “will...more

Clark Hill PLC

The Learned Concierge - May 2025, Vol. 19

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Welcome to your monthly legal insights on the trends impacting the Retail, Hospitality, and Food & Beverage Industries. Alcohol Law - New Colorado Law Limits Grocery Stores’ Ability to Sell Hard Alcohol - Michael...more

Orrick, Herrington & Sutcliffe LLP

NCUA board members challenge unprecedented removal by President Trump

On April 28, a complaint was filed in the U.S. District Court for the District of Columbia, challenging the removal of two Senate-confirmed members of the NCUA Board by President Trump. The plaintiffs allege that their...more

Goodwin

How Financial Regulation Is Shifting Under Trump

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Hi, thanks so much for joining us. I’m Samantha Kirby, chair of financial services here at Goodwin, and today, we’re going to talk to you about what we’re watching with respect to the bank regulatory agencies and the Consumer...more

Orrick, Herrington & Sutcliffe LLP

Treasury’s Bessent outlines vision for community banks

On April 9, the Secretary of the Treasury, Scott Bessent, delivered a speech outlining the Trump Administration’s financial policy goals of empowering community banks, moving away from prioritizing large financial...more

Troutman Pepper Locke

CFPB Announces 2025 Supervision and Enforcement Priorities

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This week, the Consumer Financial Protection Bureau (CFPB or Bureau) released a memo to staff outlining its new supervision and enforcement priorities for 2025....more

Smith Anderson

From “Debanking” to Deregulation: A Turning Point for Reputational Risk

Smith Anderson on

Federal banking regulators are rapidly rewriting the playbook. In the early months of the second Trump administration, sweeping shifts in policy and supervisory priorities are already taking shape. One of the most...more

Fox Rothschild LLP

No Check, Please! Trump Orders US Treasury Department to Go Digital-Only

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The federal government is putting paper checks on notice. In an Executive Order (EO) signed on March 25, President Trump directed the Department of the Treasury to stop issuing — and accepting — paper checks for nearly all...more

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

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Republicans on the House Financial Services Committee have sent letters to financial regulators asking them to rescind a variety of measures the regulators issued during the Biden Administration....more

Holland & Knight LLP

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

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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

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