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Biden Administration Banks

Jenner & Block

Trump Administration Significantly Narrows the Impact of the Consumer Financial Protection Bureau

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The Consumer Financial Protection Bureau (CFPB) is a federal agency that was founded in 2010, after the United States went through a recession linked to abuses in the origination and sale of residential mortgage loans. The...more

Ballard Spahr LLP

Jonathan Gould confirmed as Comptroller of the Currency

Ballard Spahr LLP on

The Senate has confirmed Jonathan Gould as Comptroller of the Currency. Gould, who served as Senior Deputy Comptroller and Chief Counsel at the OCC during President Trump’s first term, was confirmed 50-45. Every Democrat...more

GeoDataVision

The Community Reinvestment Act: What the Trump Administration Should Do

GeoDataVision on

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

Perkins Coie

The Slow Death of the CFPB Open Banking Rule?

Perkins Coie on

On May 30, 2025, the Consumer Financial Protection Bureau (CFPB) stated in a court filing that its “Open Banking Rule” (Rule) issued during the Biden administration “is unlawful and should be set aside.” This shift is part of...more

Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

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The CFPB is planning to repeal its Section 1033 Open Banking Rule, according to a filing in a federal lawsuit challenging the rule. On the same day the Final Rule was issued, the Banking Policy Institute (BPI) and Kentucky...more

Sheppard Mullin Richter & Hampton LLP

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

On May 9, President Trump signed a Congressional Review Act resolution repealing the CFPB’s final rule restricting overdraft fees at large financial institutions. The rule, originally finalized under the Biden administration,...more

Holland & Knight LLP

CFPB Overdraft and Digital Payment Rules Repealed by Trump Administration

Holland & Knight LLP on

President Donald Trump on May 9, 2025, signed into law measures to eliminate two CFPB rules established under the Biden Administration. The first rule repealed was the CFPB's Overdraft Rule, one aspect of the Biden...more

Troutman Pepper Locke

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

Troutman Pepper Locke on

On May 9, the U.S. Senate Committee on Banking, Housing, and Urban Affairs announced that President Trump signed into law Chairman Tim Scott’s (R-SC) Congressional Review Act (CRA) resolution, effectively overturning the...more

Ballard Spahr LLP

Trump signs resolution nullifying CFPB overdraft rule

Ballard Spahr LLP on

President Trump has signed a Congressional Review Act (CRA) resolution nullifying the CFPB’s controversial overdraft rule. ...more

Sheppard Mullin Richter & Hampton LLP

Federal Regulators Signal Reversal on 2023 CRA Modernization Rule

On March 28, the Federal Reserve, FDIC, and OCC jointly announced plans to rescind 2023 revisions to the Community Reinvestment Act (CRA) regulations. The agencies stated they would return to the previous regulatory framework...more

Troutman Pepper Locke

Navigating 2025: Federal Legislative and Regulatory Updates on Stablecoins and Decentralized Finance — The Crypto Exchange Podcast

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In this episode of The Crypto Exchange, Ethan Ostroff and Alexandra Barrage are joined by Matt Bornfreund to discuss recent activities by federal banking regulators and federal legislative developments impacting the digital...more

Troutman Pepper Locke

Financial Transactions Related to Russian Energy Now Prohibited: Expiration of OFAC ‎General License 8L

Troutman Pepper Locke on

On March 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) allowed General License (GL) 8L under the Russian Harmful Foreign Activities Sanctions Regulations to expire. As a result, broad OFAC...more

Latham & Watkins LLP

FDIC Conducts Regulatory Review and Purge

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Under its new acting chairman appointed by President Trump, the FDIC charges ahead with its new agenda by rolling back key Biden-era regulatory efforts. On March 3, 2025, the Federal Deposit Insurance Corporation (FDIC)...more

Brownstein Hyatt Farber Schreck

Regulators Finalize New Approach to Bank Mergers

On Sept. 17, 2024, the Federal Deposit Insurance Corporation (FDIC) Board met to finalize an updated approach to increase scrutiny of bank mergers, particularly those that would result in a bank with over $100 billion in...more

BakerHostetler

DOJ Withdraws 1995 Bank Merger Guidelines as FDIC, OCC Make Regulatory Changes

BakerHostetler on

On September 17, 2024, the Department of Justice Antitrust Division (DOJ) shut the vault doors on its 1995 Bank Merger Guidelines, leaving the 2023 Merger Guidelines as its sole authoritative statement on the topic of mergers...more

Royer Cooper Cohen Braunfeld LLC

The Crypto Paradigm Shift

One will be forgiven for not closely following the myriad crypto developments in recent years. Mixed signals from regulators have complicated matters: some cryptocurrencies may be securities, some are commodities, some...more

Troutman Pepper Locke

Pledging ‘Accountability,’ Biden’s FDIC Pick Faces Senate Test

Troutman Pepper Locke on

Alexandra Barrage, a partner in Troutman Pepper’s Corporate Practice Group, was quoted in the July 10, 2024 Law360 article, “Pledging ‘Accountability,’ Biden’s FDIC Pick Faces Senate Test.”...more

WilmerHale

The Drawbacks Of Banking Regulators' Merger Review Plans

WilmerHale on

The Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency recently announced proposals to update their approaches to evaluating bank mergers and other business combinations under the Bank Merger...more

Cozen O'Connor

Cozen Currents: Use the Force

Cozen O'Connor on

The Cozen Lens- •As bipartisanship wanes, forced compromise remains an essential component of governance in Washington, DC. - •Dealmaking activity is up, but antitrust enforcement is also expected to increase as growing...more

Barnea Jaffa Lande & Co.

Risk to Israeli Entities Posed by International Sanctions – What Is the Exposure and What Are the Dangers?

The executive order signed by United States President Joseph Biden in February 2024 states that the violence being committed by Israeli settlers has reached intolerable levels; poses a serious threat to peace, security, and...more

Williams Mullen

New Russia Sanctions Target Foreign Financial Institutions, Expand Import Bans

Williams Mullen on

On December 22, 2023, President Biden issued Executive Order (EO) 14114, imposing significant new economic sanctions against Russia to address the ongoing national security threat posed by the country’s invasion of Ukraine...more

Sheppard Mullin Richter & Hampton LLP

New Russia Sanctions Intensify Pressure on Banks Worldwide

On December 22, 2023, President Biden signed a new Executive Order (E.O. 14114) containing the latest round of sanctions against the Russian Federation. Shortly thereafter, Treasury Secretary Janet Yellen stated that the...more

Venable LLP

A Fall of Fees: CFPB and FTC Announce New Efforts to Fight Alleged “Junk Fees”

Venable LLP on

Large banks and credit unions must provide certain information to customers free of charge, such as account balances, transaction history, and fees, according to an advisory opinion issued by the Consumer Financial Protection...more

Katten Muchin Rosenman LLP

Junk or a Value-Added Service? Federal Regulators and the Biden Administration Go After "Junk" Fees

On Wednesday, October 11, the White House — joined by the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB or Bureau) — announced new measures aimed at a variety of so-called “junk fees” charged...more

Orrick, Herrington & Sutcliffe LLP

Biden announces nomination for FDIC Inspector General

On September 15, President Joe Biden announced his intention to nominate Jennifer L. Fain as Inspector General of the FDIC. Fain brings over 22 years of experience in the inspector general community, most recently serving as...more

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