News & Analysis as of

Federal Reserve Regulatory Authority

Polsinelli

Federal Reserve Board Enforcement Action Raises Concerns as to Reach of Regulators’ Jurisdiction

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Key Takeaways - The Federal Reserve Board issued a removal and prohibition order against a former bank employee based on alleged misconduct unrelated to her role at the bank, raising concerns about the scope of regulatory...more

Ballard Spahr LLP

Republicans ask federal banking agencies to withdraw rules, guidance

Ballard Spahr LLP on

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

DLA Piper

Executive Order on Federal Agencies

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On February 18, 2025, President Donald J. Trump signed an Executive Order (EO), entitled, “Restoring Democracy and Accountability in Government,” which asserts greater authority over all federal agencies, including those...more

Troutman Pepper Locke

Court Rules Against Banco San Juan Internacional, Inc. in Master Account Dispute

Troutman Pepper Locke on

On January 8, the United States District Court for the Southern District of New York dismissed the claims brought by Banco San Juan Internacional, Inc. (BSJI) against the Federal Reserve Bank of New York (FRBNY) and the Board...more

Parker Poe Adams & Bernstein LLP

Two Recent Supreme Court Decisions Could Dramatically Impact Health Care Regulatory Challenges at the Federal and State Levels

For nearly 40 years, federal courts have been required to defer to an agency’s interpretation of an ambiguous statute, even if the court did not agree with that interpretation. This deference, commonly referred to as Chevron...more

Stoel Rives LLP

Restart the Clock: SCOTUS Expands the Timeframe to Challenge Agency Actions

Stoel Rives LLP on

Why are environmental professionals talking about the Federal Reserve Board? Because the Supreme Court, on July 1, 2024, ruled that the APA’s six-year statute of limitations (SOL) for facial challenges to agency regulations...more

Partridge Snow & Hahn LLP

Two Supreme Court Decisions Shift the Ground for Legal Challenges to Federal Agency Actions

The Supreme Court has now concluded its most recent term, and in its final two days handed down two decisions with major implications in the area of administrative law (each by a 6-3 margin).  And while their precise...more

Schwabe, Williamson & Wyatt PC

The Supreme Court’s Latest Rulings on Administrative Agencies: Implications for ‎Consumer Product Companies

In the final week of this year’s Supreme Court term, the Court issued several decisions that alter the role of federal agencies in the way laws are interpreted and enforced, and thus the way that business will be done in the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Opens the Door to More Rule Challenges by Extending Accrual Date for APA Cases

In Corner Post v. Board of Governors of the Federal Reserve System, the U.S. Supreme Court held the six-year statute of limitations under 28 U.S.C. §2401 for challenging federal agency action under the Administrative...more

J.S. Held

Crosscurrents: Companies Face Regulatory Uncertainties in Wake of SCOTUS Decisions

J.S. Held on

Recent SCOTUS Decisions Expand Litigants’ Ability to Challenge Federal Agency Regulations - Federal agencies are under attack. Recent decisions from the United States Supreme Court are eroding long standing principles of...more

Goodwin

SCOTUS Ruling Makes Federal Agency Rules Susceptible to Previously Untimely Challenges

Goodwin on

​​​​​​​At the close of an extended term, on July 1, 2024, the U.S. Supreme Court expanded the time period for bringing a facial challenge to a federal agency rule....more

Wilson Sonsini Goodrich & Rosati

"Chevron is overruled": How Loper Bright Will Change the Regulatory Law Landscape

In a decision with far-ranging implications for federal administrative law, the United States Supreme Court issued its long-awaited ruling in Loper Bright Enterprises v. Raimondo (Loper Bright).1 The Supreme Court’s...more

Wiley Rein LLP

SCOTUS Overrules Chevron and Opens Door to More Challenges Under APA: Environmental Law Implications of Loper Bright and Corner...

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The U.S. Supreme Court issued two opinions at the end of its term impacting environmental law. In Loper Bright Enterprises v. Raimondo, the Court held that courts must exercise independent judgment when determining if an...more

Paul Hastings LLP

The CFPB Survives: Our Take on the Supreme Court Decision

Paul Hastings LLP on

On May 16, 2024, the United States Supreme Court, in a 7-2 opinion authored by Justice Clarence Thomas, upheld the constitutionality of the funding mechanism of the Consumer Financial Protection Bureau (“CFPB” or “Bureau”)....more

Partridge Snow & Hahn LLP

Upcoming Supreme Court Decisions Could Change the Landscape for Challenging Federal Agency Regulations

Three cases, all argued this term before the United States Supreme Court and likely to be decided in June, carry major implications for litigation between federal agencies and regulated entities.  Depending on the Court’s...more

Ballard Spahr LLP

California federal district court grants summary judgment for DFPI in lawsuit challenging state’s regulations requiring...

Ballard Spahr LLP on

A California federal district court recently granted the motion for summary judgment filed by the California Department of Financial Protection and Innovation (DFPI) in the lawsuit filed by an advocacy organization seeking to...more

Ballard Spahr LLP

District court poised to rule on cross-motions for summary judgment in UDAAP includes discrimination lawsuit

Ballard Spahr LLP on

The U.S. Chamber of Commerce, joined by six other trade groups, filed a lawsuit on September 28, 2022 in a Texas federal district court against the CFPB challenging the CFPB’s recent update to the Unfair, Deceptive, or...more

Troutman Pepper Locke

Supreme Court Denies Oral Argument to Republican State AGs Who Argue That the CFPB Funding Mechanism Is Unconstitutional

Troutman Pepper Locke on

On August 21, the U.S. Supreme Court denied a request by West Virginia Attorney General (AG) Patrick Morrisey and 26 other state AGs to participate in oral arguments in Consumer Financial Protection Bureau (CFPB) et al. v....more

Troutman Pepper Locke

132 Members of Congress File Amici Brief Urging Supreme Court to Find CFPB Funding Structure Unconstitutional

Troutman Pepper Locke on

As discussed here, on October 19, 2022, the Fifth Circuit Court of Appeals in Community Financial Services Association of America, Limited (CFSA) v. Consumer Financial Protection Bureau (CFPB) held that the CFPB’s funding...more

WilmerHale

FTX Bankruptcy - What Could Be Next for the Industry?

WilmerHale on

One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

Holland & Knight LLP on

Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2021

Supreme Court Strikes Down Extension of CDC Moratorium on Evictions - The U.S. Supreme Court has issued a ruling that blocks the extension of the moratorium on evictions ordered by the Centers for Disease Control and...more

Holland & Knight LLP

Federal Bank Regulators Issue Joint Guidance on Hemp

Holland & Knight LLP on

Today the federal bank regulatory agencies issued joint guidance on Providing Financial Services to Customers Engaged in Hemp-Related Businesses (Joint Hemp Guidance). These agencies – the Office of the Comptroller of the...more

Nutter McClennen & Fish LLP

Nutter Bank Report, April 2019

FDIC Shares Examiners’ Expectations for Contracts with Technology Service Providers - The FDIC has issued guidance on examiners’ expectations for provisions of contracts between banks and technology service providers...more

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