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McGlinchey Stafford

FinCEN Order Allows Banks to Collect Taxpayer Information from Third Parties

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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

Ankura

Banking Industry Outlook: Potential Surge in Banking Mergers and Acquisitions

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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

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

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

Orrick, Herrington & Sutcliffe LLP on

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 Specifically, these dismissals came soon after President Trump repealed the...more

Orrick, Herrington & Sutcliffe LLP

President Trump repeals two CFPB rules

Orrick, Herrington & Sutcliffe LLP on

On May 9, President Donald Trump repealed two CFPB rules which were brought under the previous administration. The first action repealed the CFPB’s overdraft lending rule (S. J. Res. 18), which would have capped overdraft...more

Sheppard Mullin Richter & Hampton LLP

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

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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

Troutman Pepper Locke

President Trump Signs Congressional Review Act Resolution Overturning CFPB Overdraft Rule

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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

Lathrop GPM

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

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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

Davis Wright Tremaine LLP

Reg Reform Update – Financial Regulations To Be Clarified or Repealed

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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

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

Cadwalader, Wickersham & Taft LLP

Investors Pressure European Banks to End Financing for New Oil and Gas Fields

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On February 7, a group of 30 investors, representing over $1.5 trillion of assets under management, wrote to the CEOs and board chairs of five major European banks “urging them to stop directly financing new oil and gas...more

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