Popular, Biden Administration, Financial Services Industry

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

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

House Republicans may start Congressional Review Act process to nullify overdraft rule

Ballard Spahr LLP on 2/10/2025

House Republicans appear ready to start the Congressional Review Act (CRA) process to attempt to repeal the Biden Administration’s controversial overdraft rule....more

White House Announces First Steps Toward New Policies Supporting Cryptocurrencies and Digital Financial Technology

Skadden, Arps, Slate, Meagher & Flom LLP on 2/10/2025

President Trump has taken the first steps toward fulfilling his promise to reverse the Biden administration’s approach to digital assets by issuing an executive order that establishes a framework for fostering the growth of...more

2023 Year in Review: Data Privacy and Cybersecurity

Goodwin on 2/16/2024

Welcome to the Data Privacy and Cybersecurity chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - Amendments to key rules and regulations will take effect in 2024,...more

Current State of U.S. Economic Sanctions Imposed on the Russian Federation and Covered Regions of Ukraine in Response to the...

BakerHostetler on 1/25/2024

In response to Russia’s invasion of Ukraine, the U.S. government has deployed a whole-of-government approach to impose sanctions and tighter export controls on Russia. This alert summarizes key economic sanctions imposed by...more

Sanctions Against Russia: U.S. Introduces New Russia-Related Sanctions Targeting Foreign Financial Institutions And Tightens Other...

K2 Integrity on 1/11/2024

On 22 December 2023, the Biden administration issued Executive Order 14114, “Taking Additional Steps with Respect to the Russian Federation’s Harmful Activities” (EO 14114), thereby amending EOs 14024 and 14068. The new EO...more

AI Insights: How Regulators Worldwide Are Addressing the Adoption of AI in Financial Services

Skadden, Arps, Slate, Meagher & Flom LLP on 12/13/2023

Following the declaration of the international artificial intelligence (AI) “Safety Summit” at Bletchley Park (Bletchley Summit) on November 1, 2023, and the White House’s October 30, 2023, Executive Order on AI (Executive...more

President Biden's AI Executive Order: What Private Sector Organizations Need to Consider

Baker Donelson on 11/8/2023

On October 30, 2023, President Biden signed an Executive Order as a part of the administration's continued efforts to regulate the development and use of artificial intelligence (AI)-based technologies. Although many...more

White House AI Order Balances Innovation And Regulation

Rothwell, Figg, Ernst & Manbeck, P.C. on 11/6/2023

On Oct. 30, President Joe Biden issued an executive order on safe, secure and trustworthy artificial intelligence. The executive order provides a sprawling list of directives aimed at establishing standards for AI safety...more

Biden Issues First Executive Order Directing Federal Agencies to Establish New Standards to Promote Safe and Secure Use of AI

Troutman Pepper Locke on 11/2/2023

On October 30, President Biden issued a sweeping Executive Order calling on Congress to enact privacy laws and directing federal agencies to review existing rules and potentially explore new rulemakings governing the use of...more

October 11 Was a Red-Letter Day in the Growing Federal-State War on Fees

Troutman Pepper Locke on 10/13/2023

On October 11, the Consumer Financial Protection Bureau (CFPB or Bureau) published a special edition of its Supervisory Highlights report. This report serves as a “victory lap” for the Bureau, which highlights the relief it...more

The Fuss About Junk Fees, Pt. 1: Biden, CFPB, and FTC Collaborate

McGlinchey Stafford on 7/20/2023

Anyone who has financed the purchase of a good or service, had a bank account, bought a car, or purchased sporting event tickets has almost assuredly encountered what the Biden Administration and various regulatory agencies...more

Bipartisan Calls for Congressional Investigations in the Wake of Silicon Valley Bank Collapse

Wilson Sonsini Goodrich & Rosati on 3/15/2023

As Congress and the White House continue to grapple with the fallout of Silicon Valley Bank’s (SVB) collapse, both parties are united on one thing: Congress must investigate what happened. Following news that regulators...more

Biden's Student Loan Forgiveness Plan in Peril

Venable LLP on 3/10/2023

The Supreme Court heard arguments on February 28, 2023 in two cases that will decide the future of President Biden's student loan forgiveness plan. The cases, Biden v. Nebraska and U.S. Department of Education v. Brown,...more

Biden Administration Announces Crackdown on “Junk Fees”

Brownstein Hyatt Farber Schreck on 2/7/2023

On Feb. 1, 2023, the Biden administration released a fact sheet describing actions taken by the White House that continue a focus on so called “junk fees.” The announcement, which was done along with several independent...more

Decoded: Technology Law Insights - V 4, Issue 1, January 2023

Spilman Thomas & Battle, PLLC on 2/1/2023

Big Boosts to Cybersecurity and Tech Funding in $1.7T Omnibus Bill Signed by Biden - “The bipartisan fiscal 2023 omnibus spending agreement includes $2.9 billion for the Cybersecurity and Infrastructure Security Agency, a...more

Consumer Regulators' Role in Biden Administration's Framework on Digital Assets

Akerman LLP on 9/26/2022

Earlier this year, President Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets ("Digital Assets EO"). The Digital Assets EO directed over 20 federal agencies to provide the Administration...more

Window on Washington – Vol. 6, Issue 26

Clark Hill PLC on 7/7/2022

Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are in recess this week. Once Congress returns after the July 4th recess, leaders aim to reach an agreement on the USICA/COMPETES bill and...more

Biden Executive Order on Cryptocurrencies and Other Digital Assets Emphasizes Innovation and Regulation

Cooley LLP on 3/17/2022

On March 9, 2022, President Joe Biden issued an executive order outlining a “whole-of-government” approach to examining a broad range of potential risks associated with the dramatic growth in digital assets, including...more

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

Holland & Knight LLP on 1/13/2022

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

Energy transition: How to finance the race to net-zero

White & Case LLP on 8/6/2021

Global momentum behind the fight against climate change has never being stronger, as governments and energy companies around the world make ambitious pledges to reduce carbon emissions to net-zero by 2050. The US, under the...more

Overview of President Biden’s Non-Compete Agreement Executive Order

Eversheds Sutherland (US) LLP on 7/21/2021

On July 9, 2021, President Biden signed the Executive Order on Promoting Competition in the American Economy. The Order, breathtaking in scope, asserts as a key goal the desire to improve the lives of consumers through...more

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on 6/25/2021

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Climate Change and State Insurance Regulation: What Could Change After President Biden’s May 20 Executive Order

McDermott Will & Schulte on 5/28/2021

US President Joe Biden’s May 20, 2021, executive order laid out an aggressive, whole-of-government plan to address climate change risk, including a set of directives that will have a major impact on the operations of the...more

Today's Popular Updates › Biden Administration › Financial Services Industry

"My best business intelligence, in one easy email…"