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Federal Deposit Insurance Corporation › Consumer Protection Laws

The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain... more +
The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s.  The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships.  less -
Orrick, Herrington & Sutcliffe LLP

FDIC and OCC release CRA evaluations for May and July of 2025, respectively

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On August 5, the FDIC released its list of state nonmember banks evaluated for CRA compliance, covering ratings assigned in May 2025. The FDIC released the ratings of 69 institutions, with 63 receiving a satisfactory rating,...more

Orrick, Herrington & Sutcliffe LLP

FDIC issues its 2025 Consumer Compliance Supervisory report

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On July 3, the FDIC released its 2025 edition of its Consumer Compliance Supervisory Highlights report. The report described the FDIC’s aggregated findings from approximately 800 consumer compliance examinations conducted in...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 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

Sheppard Mullin Richter & Hampton LLP

FDIC and Maryland End Joint Consent Orders Against Regional Bank

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On April 7, the FDIC and the Maryland Office of Financial Regulation terminated two consent orders against a regional bank headquartered in Maryland. The termination concludes joint federal and state enforcement actions that...more

Sheppard Mullin Richter & Hampton LLP

FDIC Orders Bank to Pay $1.225 Billion for Alleged Interchange Fee Misclassification 

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On April 18, the FDIC announced a consent order against a Delaware-based bank alleging that the bank engaged in unsafe and unsound banking practices and violated various federal consumer protection laws, including Section 5...more

Orrick, Herrington & Sutcliffe LLP

FDIC orders state bank to pay $1.375B

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On April 18, the FDIC announced that it amended its 2023 consent order against an insured state nonmember bank, as well as issued a new order for restitution and order to pay, concluding the bank recklessly engaged in unsafe...more

Nutter McClennen & Fish LLP

Nutter Bank Report: March 2025

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The federal banking agencies have announced their intent to issue a proposal to rescind the Community Reinvestment Act (CRA) final rule originally issued in October 2023. In their announcement on March 28, the agencies also...more

Orrick, Herrington & Sutcliffe LLP

McKernan receives committee vote of approval before Senate confirmation

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On March 6, the U.S. Senate Banking Committee advanced Jonathan McKernan’s nomination to serve as director of the CFPB in a 13-11 vote along party lines, with all Democrats opposing. As previously covered by InfoBytes, the...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025 # 4

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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

Ballard Spahr LLP

Trump nominates former FDIC Board Member Jonathan McKernan to head CFPB

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President Trump has nominated Jonathan McKernan to be the Director of the CFPB. ...more

Orrick, Herrington & Sutcliffe LLP

FDIC receives letter from senators to finalize its custodial accounts rule

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On January 16, the FDIC received a letter from Sens. Ron Wyden (D-OR) and John Fetterman (D-PA) urging the finalization of a proposed rule to strengthen recordkeeping for custodial accounts. As previously covered by...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - May 2024

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Bank for International Settlements. Credit risk management. On April 30, 2024, Bank of International Settlements issued updated guidance on counterparty credit risk management. The fresh guidance reaffirms the need for...more

Troutman Pepper Locke

Troutman Pepper Weekly Consumer Financial Services Newsletter - October 2023 #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

Wiley Rein LLP

Wiley Consumer Protection Download (June 5, 2023)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Latham & Watkins LLP

Federal Reserve Issues Cryptoasset Engagement “Rules of the Road” for Its Supervised Banking Organizations

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The Federal Reserve is taking measured steps to better understand the types of cryptoasset-related activities contemplated by its supervised banking organizations. On August 16, 2022, the Board of Governors of the...more

Bradley Arant Boult Cummings LLP

OCC Releases Final True Lender Rule

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On October 27, 2020, the OCC released its final True Lender Rule. As discussed earlier on this blog, the OCC’s rule is designed to clarify the “true lender” doctrine, a legal test utilized by courts and regulators to...more

Ballard Spahr LLP

PLI 25th Annual Consumer Financial Services Institute – 25% discount available

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PLI’s 25th Annual Consumer Financial Services Institute will take place on March 23-24, 2020, in New York City (and by live webcast and groupcast in Philadelphia, Pittsburgh, and Mechanicsburg, Pennsylvania, and New...more

Ballard Spahr LLP

House Financial Services Committee: “rent-a-bank” hearing on Feb. 5; Director Kraninger to testify on Feb. 6

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On Wednesday, February 5, the House Financial Services Committee will hold the first part of a two-part hearing on “rent-a-bank” structures. The hearing is titled “Rent-A-Bank Schemes and New Debt Traps: Assessing Efforts to...more

Mayer Brown

US Interagency statement on the use of alternative data in credit underwriting

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On December 3rd, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the...more

Ballard Spahr LLP

Leonard Chanin joins FDIC

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The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman.  In that capacity, he will advise Chairman Jelena McWilliams on consumer protection issues...more

White & Case LLP

Consumer financial services: The road ahead: Marketplace lending

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The CFPB has traditionally not prioritized marketplace lenders in its supervisory and enforcement efforts. As a result, state regulators have increasingly sought to fill any perceived voids left by the Bureau....more

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