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Federal banking regulators issue statement on banks’ crypto-asset activities

Ballard Spahr LLP on 8/20/2025

Federal banking regulators have issued a joint statement in an effort to provide clarity on banks’ engagement in crypto-asset related activities....more

Sanctions Update EU and UK Tighten Restrictions on Russian Oil and Provision of Software to Russia

Latham & Watkins LLP on 8/19/2025

During 18-19 July 2025, the EU unveiled its 18th “package” of sanctions launched against Russia since Russia’s invasion of Ukraine in February 2022. Among these measures, the EU seeks to close an apparent loophole by which...more

Denmark's Largest Bank Maintains Climate Commitment and Divests from Over 1700 Fossil Fuel Companies

Mintz on 8/18/2025

Last week, Danske Bank--Denmark's largest bank--announced that it would no longer invest in over 1700 fossil fuel companies due to their failure to adequately prepare for climate change. Specifically, their “investment...more

Executive Order Briefing: Guaranteeing Fair Banking for All Americans

Holland & Knight LLP on 8/15/2025

President Donald Trump on Aug. 7, 2025, signed an executive order (EO or order) titled "Guaranteeing Fair Banking for All Americans," which declares that no American should be denied access to financial services based on...more

Fed Follows Earlier OCC, FDIC, and NCUA Orders Allowing Banks to Collect TIN Information from Third Parties

King & Spalding on 8/11/2025

On July 31, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an exemptive order in coordination with the Board of Governors of the Federal Reserve System (the “Fed”) that allows...more

The GENIUS Act is Signed into Law: What Banks Need to Know about Payment Stablecoins

Nutter McClennen & Fish LLP on 7/21/2025

On July 18, 2025, President Trump signed into law the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the “GENIUS Act”), after it passed both the U.S. Senate by a vote of 68-30 and the U.S. House in a...more

Banking on Crypto: Regulators Clarify Rules for Digital Asset Safekeeping

Jones Day on 7/16/2025

Federal banking regulators continue to promote a more "crypto-positive" regulatory environment through recent joint guidance issued to clarify risk management and compliance expectations for banks providing crypto-asset...more

FinCEN Order Allows Banks to Collect Taxpayer Information from Third Parties

McGlinchey Stafford on 7/10/2025

In a significant move, on June 27, 2025 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting banks and their subsidiaries an exemption from the Customer Identification...more

Navigating the Future of Stablecoins: Highlights from the Proposed GENIUS Act

Wilson Sonsini Goodrich & Rosati on 6/25/2025

On June 17, 2025, the U.S. Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. If enacted, the bill would establish a comprehensive federal regulatory framework for stablecoins...more

Senate Passes GENIUS Act: Landmark Federal Stablecoin Bill Advances to House

Katten Muchin Rosenman LLP on 6/23/2025

The US Senate has passed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) by a vote of 68-30, a significant development for cryptocurrency regulation in the United States. This passage...more

Senate Passes GENIUS Act, Clearing Hurdle for Federal Stablecoin Framework

Jones Day on 6/23/2025

The vote marks the first time the U.S. Senate has passed significant digital asset legislation and puts the industry one step closer to regulatory clarity for certain stablecoins....more

Banking Industry Outlook: Potential Surge in Banking Mergers and Acquisitions

Ankura on 6/20/2025

Mergers and acquisitions continue to be a critical strategy for banks aiming to bolster their market presence and operational efficiency. The United States has 4,500+ banks, 4,000+ credit unions, and a large number of...more

CFPB will kill Section 1033 Open Banking Rule

Ballard Spahr LLP on 5/29/2025

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

CFPB’s repeal of two final rules leads to dismissal of two cases

Orrick, Herrington & Sutcliffe LLP on 5/27/2025

Recently, federal district courts dismissed two cases which challenged two final rules promulgated by the CFPB under the previous administration. Specifically, these dismissals came soon after President Trump repealed the...more

President Trump repeals two CFPB rules

Orrick, Herrington & Sutcliffe LLP on 5/19/2025

On May 9, President Donald Trump repealed two CFPB rules which were brought under the previous administration. The first action repealed the CFPB’s overdraft lending rule (S. J. Res. 18), which would have capped overdraft...more

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

Sheppard Mullin Richter & Hampton LLP on 5/16/2025

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

CFPB Overdraft and Digital Payment Rules Repealed by Trump Administration

Holland & Knight LLP on 5/14/2025

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

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

Troutman Pepper Locke on 5/13/2025

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

Trump signs resolution nullifying CFPB overdraft rule

Ballard Spahr LLP on 5/13/2025

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

White House Establishes a U.S. Strategic Bitcoin Reserve and Digital Asset Stockpile: What It Is and What It Implies

Lathrop GPM on 5/2/2025

On March 6, President Trump issued an Executive Order establishing a Strategic Bitcoin Reserve capitalized by Government BTC and a U.S. Digital Asset Stockpile capitalized by other crypto assets. Creating the Strategic...more

Director & Officer Duties: What Every Leader Should Know

Offit Kurman on 4/30/2025

Earlier this year, the FDIC, acting as receiver for Silicon Valley Bank (“SVB”), filed a breach of fiduciary duty lawsuit against six officers and eleven directors of the bank. The FDIC alleged that these individuals ignored...more

Combatting Scams in Australia, Singapore, China and Hong Kong

K&L Gates LLP on 4/24/2025

The increased reliance on digital communication and online banking has created greater potential for digitally-enabled scams. If not appropriately addressed, scam losses may undermine confidence in digital systems, resulting...more

UK: “Duty of retrieval” rejected: why banks do not owe a duty to recover funds lost through APP fraud

Hogan Lovells on 4/18/2025

Banking fraud of all types is an ever increasing problem in today’s society, and takes a multitude of forms. On a basic level, frauds can be divided into two types. Unauthorised fraud, where the victim does not provide...more

Reg Reform Update – Financial Regulations To Be Clarified or Repealed

Davis Wright Tremaine LLP on 4/16/2025

While tariff policy has captured headlines, four recent regulatory reform policy developments are nevertheless significant for the financial services industry. These developments are tied to increasing presidential control...more

House sends Trump resolution to nullify CFPB overdraft rule

Ballard Spahr LLP on 4/11/2025

The resolution to nullify the CFPB’s overdraft rule now is in President Trump’s hands....more

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