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Enforcement Actions Federal Reserve Consumer Financial Protection Bureau (CFPB)

Paul Hastings LLP

Executive Order Calls for Crackdown on Politicized Debanking

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On August 7, President Donald Trump signed the “Guaranteeing Fair Banking for All Americans” executive order (EO) directing federal banking regulators to investigate financial institutions that have restricted access to...more

DLA Piper

“Fair Banking” Executive Order Targets Politicized Debanking and Reputational Risk

DLA Piper on

On August 7, 2025, President Donald Trump issued an Executive Order entitled “Guaranteeing Fair Banking for all Americans” (EO). The EO broadly prohibits banks and other financial institutions from engaging in “politicized or...more

Bradley Arant Boult Cummings LLP

President Trump Signs Debanking Executive Order: Horizontal Reviews for Banks and Credit Unions are Next

Late last year, we predicted that the Trump administration would bring federal action to target de-banking, and on August 7, 2025, President Trump signed a much-anticipated executive order to address the issue. Banks and...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 5

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Morrison & Foerster LLP

FinReg Currents - Week 9

On March 14, 2025, a judge in the U.S. District Court for the District of Maryland declined to grant a temporary injunction to the City of Baltimore and the Economic Action Maryland Fund. The plaintiffs had requested an...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – March 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Holland & Knight LLP

CFPB Grinds to a Halt: Impacts on Industry

Holland & Knight LLP on

U.S. Department of the Treasury Secretary Scott Bessent was appointed as acting director of the Consumer Financial Protection Bureau (CFPB or the Bureau) on Feb. 3, 2025. In his capacity as acting director, Bessent reportedly...more

Morrison & Foerster LLP

FinReg Currents - Week 4

On February 7, 2025, newly confirmed Office of Management and Budget (OMB) director Russell Vought replaced Treasury Secretary Scott Bessent as acting director of the CFPB....more

Foley & Lardner LLP

New Consumer Financial Protection Bureau Acting Director Expands Freeze to All CFPB Activities; CFPB Office Closes

Foley & Lardner LLP on

We previously reported that Treasury Secretary Bessent was named as the acting director of the Consumer Financial Protection Bureau (CFPB), and he subsequently ordered the CFPB staff to halt several activities. However, the...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2025

Governor Michelle Bowman discussed the unique challenges mutual banking institutions face raising capital and the need for regulatory flexibility in the process. Governor Bowman’s remarks at the New England CEO Summit on...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – January 2025

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Hudson Cook, LLP

CFPB Bites of the Month - October 2024 - (Don't Fear) The Reaper CFPB

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In this month's article, we share some of our top "bites" for the prior and current month covered during the October 2024 webinar. ...more

Mintz - ML Strategies

2024 Pre-Election Analysis: Financial Services

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Financial services encompass a wide range of services offered by the nation’s financial institutions, including banking, mortgage, investment, and credit services. The next administration and Congress’s financial services...more

Hudson Cook, LLP

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

Ballard Spahr LLP

OIG report finds CFPB can enhance certain aspects of its enforcement investigations process

Ballard Spahr LLP on

The Office of Inspector General (OIG) for the Federal Reserve Board and CFPB has issued a report on its evaluation of the CFPB’s process for conducting enforcement investigations.  OIG concluded that the CFPB can enhance...more

Jenner & Block

Client Alert: How Regulatory Events of 2023 Should Guide Financial Institutions' New Year's Resolutions for 2024

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As consumer-facing financial institutions of all types—from well-established banks to newly-launched fintechs—set their 2024 regulatory compliance goals, they may wonder if their New Year’s resolutions align with those that...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - September 2023

Editor's Note The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Ballard Spahr LLP

Minnesota Bankers Association and Lake Central Bank sue FDIC over NSF fee guidance

Ballard Spahr LLP on

A complaint filed on July 20, 2023 in Minnesota federal court seeks declaratory and injunctive relief under the Administrative Procedures Act (APA) against defendants Federal Deposit Insurance Corporation (FDIC) and Chairman...more

Hudson Cook, LLP

CFPB Bites of the Month - July 2023 - Freedom, Independence, and Celebration From the CFPB

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the July 2023 webinar. Bite 10: Public Inquiry Launched into Credit Card and Loan Products for Healthcare Costs - On July 7,...more

Goodwin

Federal Reserve and OCC Release 2023 Bank Stress Test Scenarios

Goodwin on

On February 9, the Federal Reserve released its hypothetical scenarios for its 2023 bank stress tests, and on February 10, the OCC also released hypothetical economic and financial market scenarios to be used by covered...more

Goodwin

Federal Reserve Seeks Feedback on Proposed Updates to FMUs Risk Management Requirements

Goodwin on

Regulatory Developments - Federal Reserve Seeks Feedback on Proposed Updates to FMUs Risk Management Requirements - On September 23, the Federal Reserve invited comment on proposed updates to operational risk...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

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