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Regulatory Reform Banks Consumer Financial Products

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

Jenner & Block

Trump Administration Significantly Narrows the Impact of the Consumer Financial Protection Bureau

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The Consumer Financial Protection Bureau (CFPB) is a federal agency that was founded in 2010, after the United States went through a recession linked to abuses in the origination and sale of residential mortgage loans. The...more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast

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In this special crossover edition of Payments Pros and The Consumer Finance Podcast, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....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

McGuireWoods LLP

OCC Reaffirms that its National Bank Preemption Regulations are Lawful

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On May 8, 2025, the Conference of State Bank Supervisors (“CSBS”) asked the Office of the Comptroller of the Currency (“OCC”) to comply with Executive Orders 14129 and 14267 by reversing its regulations governing national...more

Ballard Spahr LLP

Trustmark Redlining Consent Order Terminated

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A federal district court recently granted the unopposed motion of the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) to terminate their October 2021 consent order with Trustmark National Bank...more

Ballard Spahr LLP

CFPB will kill Section 1033 Open Banking Rule

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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

Orrick, Herrington & Sutcliffe LLP

Acting Comptroller discusses importance of financial inclusion

On May 8, Acting Comptroller of the Currency Rodney E. Hood spoke on his four priority areas: financial inclusion, reducing regulatory burdens, bank-fintech partnerships, and digital assets. He emphasized that financial...more

Orrick, Herrington & Sutcliffe LLP

CFPB withdraws notice on certain contract terms, citing duplication

On May 15, the CFPB published a Federal Register notice withdrawing its proposed rule regarding prohibited terms and conditions in agreements for consumer financial products or services under Regulation AA. The withdrawal...more

Ballard Spahr LLP

CFPB rescinds enforcement, supervisory priority documents, outlines new priorities for 2025

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The CFPB is rescinding its existing enforcement and supervision priority documents, according to a memo sent to bureau staff by CFPB Chief Legal Officer Mark Paoletta....more

Ballard Spahr LLP

House sends Trump resolution to nullify CFPB overdraft rule

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

Troutman Pepper Locke

FHFA Director Pulte Terminates Mortgage-Related Special Purpose Credit Programs for GSEs

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In a significant policy shift under the Trump administration, the new Federal Housing Finance Agency (FHFA) Director Bill Pulte issued an order on March 25, 2025 terminating special purpose credit programs (SPCPs) supported...more

Ballard Spahr LLP

Republican Senators seek to use CRA to void medical debt rule

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Republican senators have introduced a Congressional Review Act resolution to nullify the rule that bans banks and credit unions from including medical debt on credit reports and generally prohibits the use of medical...more

Troutman Pepper Locke

Virginia’s SB 1252: Potential Impact on Banks and Fintechs

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On January 8, Senate Bill No. 1252 (SB 1252) was introduced to the Virginia General Assembly, aiming to amend and reenact sections of the Code of Virginia related to the application of usury rates. Just two weeks ago, the...more

Ballard Spahr LLP

Colorado seeks stays of District Court proceedings and preliminary injunction

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We previously reported that, on July 18, the Colorado Attorney General and UCCC Administrator appealed to the 10th Circuit Court of Appeals challenging Judge Domenico’s order dated June 18 D. (Colo.) granting a preliminary...more

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