On April 23, 2026, the Office of the Comptroller of the Currency (OCC), Federal Reserve Board, and Federal Deposit Insurance Corporation (FDIC) jointly issued a final rule revising the Community Bank Leverage Ratio (CBLR) framework. The rule, titled “Regulatory Capital Rule: Revisions to the Community Bank Leverage Ratio Framework,” will take effect on July 1, 2026.It… Continue Reading
Second Circuit Reaffirms Preemption of New York’s Mortgage Escrow Interest Law, Setting Stage for Potential Supreme Court Rematch with First Circuit
By Alan S. Kaplinsky on
In a decision issued May 5, 2026, a Second Circuit Court of Appeals panel in Cantero v. Bank of America, N.A., August Term 2024, Nos. 21-400, 22-403, once again held that New York’s General Obligations Law § 5-601, which requires mortgage lenders to pay at least 2% interest on escrow accounts is preempted by the National Bank Act (NBA) as applied to national banks like Bank of America.… Continue Reading
Today’s podcast episode: White House Executive Order on Scams and Fraud Takes Center Stage
By Ballard CFS Group on
Today, we released a new episode of the award-winning Consumer Finance Monitor Podcast examining one of the most significant recent federal developments in the fight against scams and fraud: Executive Order 14390.
Hosted by Alan Kaplinsky (the founder, chair for 25 years and now Senior Counsel in the Consumer Financial Services Group), the episode features returning guests Kate Griffin and Nick Bourke of the Aspen Institute, who previously joined the podcast to discuss Aspen’s landmark report, United We Stand: A National Strategy to Prevent Scams.… Continue Reading
CFPB’s OIG investigating current workforce and contracting developments plus interpretations adopted and enforcement actions taken under then Director Chopra
The CFPB’s Office of Inspector General is still investigating the agency’s workforce and contracting moves to see what impact it has had on agency actions.
“We are reviewing the CFPB’s workforce and contracting actions to determine their high-level effects on mission-related activities and support functions,” the OIG said, in an update of its activities.… Continue Reading
Washington Supreme Court: Lenders need ‘Negotiable Instrument’ to nonjudicially foreclose residential real estate-secured loans
By Gregory R. Fox, Joan Robinson, Richard J. Andreano, Jr. & Matthew A. Morr on
The Washington Supreme Court issued an opinion on April 30, 2026, that deprives Washington state lenders of the right to nonjudicially foreclose residential-secured loans unless those loans are evidenced by a negotiable instrument—i.e., a promissory note with only basic payment terms that comports with RCW 62A.3-104.
The court further held that HELOCs and other types of multiple advance (e.g.,… Continue Reading
FDIC rescinds guidance governing re-presentment of same transaction
The FDIC has issued FIL-14-2026 rescinding its guidance governing the re-presentment of the same transaction after raising questions about the Biden Administration’s prior guidance.
“Based on a review and assessment of the guidance in FIL-32-2023, the FDIC concludes that the guidance is overly broad in scope and has raised uncertainty regarding when, for instance, disclosures regarding re-presentments may result in ‘unfairness’ concerns under Section 5 of the Federal Trade Commission Act,” the FDIC said in announcing the rescission.… Continue Reading
Maryland Targets “Surveillance Pricing” Is It a Warning Shot for AI-Driven Pricing Across Industries, Including Consumer Financial Services
Posted in State Regulation
On April 28, 2026, Governor Wes Moore of Maryland has signed into law the nation’s most aggressive state law aimed at so-called “surveillance pricing” and algorithmic price-setting. House Bill 895, titled the Protection From Predatory Pricing Act, will become effective on October 1, 2026. It restricts the use of personalized pricing, consumer data-driven pricing, and certain AI-enabled pricing practices, particularly in the food retail (operating establishments of at least 15,000 square feet) and delivery sectors.… Continue Reading
Today’s podcast episode: Debt Sales 101 Mini-Series — Episode 6: After the Close: Compliance, Oversight, and Ongoing Risk
By Ballard CFS Group on
Posted in Debt Collection, Podcasts
In the final episode of our Debt Sales 101 mini-series, we focus on what happens after a debt sale closes and how sellers manage ongoing compliance, oversight, and risk. We discuss how regulators view debt sales as a managed activity rather than a clean exit and what that means for post-sale responsibilities.… Continue Reading
Virginia Moves Toward State-Court Class Actions: A Major Shift with Significant Business Implications
By Thomas Burke, Alan S. Kaplinsky & John Sadler on
Posted in State Regulation
Virginia is on the verge of making a consequential change to its civil justice system. Legislation now pending before Governor Abigail Spanberger would authorize private class actions in Virginia state courts and make significant amendments to the Virginia Consumer Protection Act (“VCPA”). If signed, Virginia would join virtually every other state in expressly permitting class action procedures in its own courts.… Continue Reading
CFPB’s Final Rule Recalibrates Fair Lending Enforcement: A Return to Clarity and Core Statutory Principles
By Alan S. Kaplinsky on
Posted in CFPB Rulemaking, Fair Lending
On April 22, 2026, the Consumer Financial Protection Bureau (CFPB), under Acting Director Russell Vought, issued a significant final rule reshaping the agency’s approach to fair lending enforcement under the Equal Credit Opportunity Act (ECOA) and Regulation B. While early commentary has been sharply divided, a closer reading of the final rule itself reveals a thoughtful and disciplined effort to realign enforcement with statutory text, evidentiary rigor, and practical compliance realities.… Continue Reading