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Troutman Pepper Locke

SBA Orders Small Business Lenders to End Debanking Practices Pursuant to President Trump’s Executive Order

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On August 26, the U.S. Small Business Administration (SBA) took action to enforce President Trump’s directive by issuing a letter to its network of over 5,000 lenders. This letter mandates the cessation of alleged politicized...more

Morgan Lewis

CFPB Invites Comment on Larger Participant Thresholds

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The Consumer Financial Protection Bureau has issued advance notices of proposed rulemaking seeking public comment on whether to revise the thresholds that define “larger participants” in key consumer financial industries....more

McGlinchey Stafford

Podcast: Deep Dive into Unsecured Lending [More with McGlinchey, Ep. 79]

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The next episode in McGlinchey’s Deep Dive into Lending series takes a close look at unsecured lending with insights from Aaron Kouhoupt and Adam Maarec. They discuss innovations in loan applications, underwriting, and...more

Ballard Spahr LLP

Plaintiffs ask for delay in compliance dates for CFPB open banking rule

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The banking plaintiffs in the suit challenging the CFPB’s open banking rule (“Rule”) have asked a federal court to delay the compliance date of the Rule, contending that even though the Trump Administration has said it was...more

Ballard Spahr LLP

Trump issues Executive Order prohibiting ‘debanking’

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President Trump has issued an Executive Order directing banking agencies to adopt policies to ensure that financial institutions do not use reputational risk as a basis for restricting access to banking services—a process...more

Haynes Boone

Financial Services Regulatory Roundup | August 2025

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TABLE OF CONTENTS: • President Trump Signs GENIUS Act Into Law • Joint Statement on Crypto Risk Management • Federal Agencies Propose Rescission of the 2023 Community Reinvestment Act Final Rule • FDIC Seeks Input...more

Troutman Pepper Locke

CFPB Section 1033 Open Banking Rule Stayed as CFPB Initiates New Rulemaking

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In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more

Ballard Spahr LLP

Federal Judge rejects request to release ESSA Bank from redlining settlement

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A federal judge has rejected the Trump Administration’s request to release from court supervision a bank that had been accused of discriminatory lending....more

Troutman Pepper Locke

Credit Unions Advocate for Digital Asset Custody in Light of GENIUS Act

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On July 18, America’s Credit Unions sent a letter to the Honorable Kyle Hauptman, Chairman of the National Credit Union Administration (NCUA), urging the agency to initiate rulemaking that would allow credit unions to take...more

Hone Maxwell

Understanding FATCA and Its Impact on Foreign Financial Institutions: Why Finding Financial Services as an American Abroad Can Be...

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As an American living abroad, you may have experienced firsthand the challenges of finding a financial institution willing to work with you. Whether it’s for opening a bank account, investing in local markets, securing a...more

Troutman Pepper Locke

Federal Banking Agencies Propose Rescission of 2023 CRA Final Rule and Reinstatement of 1995 CRA Regulations

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On July 16, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) (collectively, the federal banking agencies) jointly published a proposed rule...more

Cozen O'Connor

Hundreds of Millions Lost by Seniors Due to Bankruptcies Filed by CCRC Communities

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The Wall Street Journal has reported that recent bankruptcies nationwide in the Continuing Care Retirement Community (CCRC) segment of the long-term care marketplace have resulted in residents losing their buy-in deposit....more

Ballard Spahr LLP

Federal banking agencies seek information on actions to address payments fraud

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On June 20, 2025, the Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) announced they are seeking...more

Troutman Pepper Locke

Point-of-Sale Finance Series: Banking on Lending Models — The Consumer Finance Podcast

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In this crossover episode of The Consumer Finance Podcast and Payments Pros, Chris Willis, Jason Cover, and Taylor Gess continue the Point-of-Sale Finance Series to discuss licensed lending and bank model lending programs....more

Ballard Spahr LLP

Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers

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Banks and credit unions may now rely on third parties to provide a consumer’s Social Security or Taxpayer Identification Number, according to an order issued by the FDIC, OCC and the NCUA with the consent of the Financial...more

Husch Blackwell LLP

CFPB Floats Rescission of NBR Rule

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The Consumer Financial Protection Bureau (CFPB) continues to redefine its priorities, and among the many policies targeted for change, the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders”...more

Ankura

The Regulatory Roadmap for Third-Party Compliance in Financial Services

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In the rapidly evolving financial ecosystem, financial institutions (FIs) increasingly rely on third parties, including Fintech companies, Banking-as-a-Service (BaaS) providers, and other financial service entities—to expand...more

Troutman Pepper Locke

Federal Agencies Issue Order Granting Exemption for Financial Institutions on TIN Collection

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The Office of the Comptroller of the Currency (OCC), alongside the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) (collectively, the agencies), with concurrence from the...more

Ballard Spahr LLP

NYC Comptroller calls for strengthening city, state consumer protection laws, regulations

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Accusing the Trump Administration of “dismantling” the CFPB, New York City Comptroller Brad Lander is calling on city and state officials to fill the void by strengthening consumer protection laws and rules in the city and...more

Ballard Spahr LLP

House passes ‘trigger leads’ bill

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The House has passed legislation that would ban “trigger leads,” except in limited circumstances. The “Homebuyers Privacy Protection Act of 2025,” H.R. 2808, passed the House by voice vote. ...more

Ballard Spahr LLP

More Early Terminations of Redlining Consent Orders

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As previously reported, based on an unopposed motion submitted by the Department of Justice (DOJ) and Consumer Financial Protection Bureau (CFPB) the October 2021 redlining consent order with Trustmark National Bank was...more

Ballard Spahr LLP

DOJ Seeks Early Termination of Lakeland Bank Redlining Consent Order

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The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair...more

Ballard Spahr LLP

Court Denies CFPB/Townstone Bid to Undo Consent Order

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As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB...more

Hudson Cook, LLP

[Webinar] Consumer Financial Services Bites of the Month: Evening in June with the CFPB - June 18th, 12:30 pm - 1:00 pm ET

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Please join Eric Johnson, Justin Hosie, and Kristen Yarows as they recap recent consumer financial services activities including the CFPB resuming its redress to consumers of a sales-training company, the City of Baltimore...more

Troutman Pepper Locke

Section 899 Implications for Foreign Banks Lending to US Borrowers through US Lending Offices

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In an earlier alert, we described the potential impact of the One Big Beautiful Bill on withholding taxes imposed on loans made by foreign banks to U.S. borrowers. ...more

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