The FDIC and the OCC have adopted a joint final rule that will prohibit the agencies from criticizing or taking adverse action against a financial institution based on reputation risk.  The rule is effective June 6.

The rule will also prohibit the agencies from “requiring, instructing, or encouraging an institution to close customer accounts or take other actions on the basis of a person or entity’s political, social, cultural, or religious views or beliefs, constitutionally protected speech, or solely on the basis of politically disfavored but lawful business activities perceived to present reputation risk,” according to a statement from the agencies.… Continue Reading

The U.S. Department of the Treasury has issued its first proposed rule under the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, marking a key milestone in federal efforts to regulate payment stablecoins. The Notice of Proposed Rulemaking (NPRM) outlines the principles Treasury will use to assess whether a state’s regulatory regime is “substantially similar” to the federal framework, which determines whether certain stablecoin issuers may be supervised by states rather than the OCC or other federal agencies.… Continue Reading

As part of the U.S. Department of Treasury’s efforts to modernize the U.S. anti-money laundering regulatory and supervisory framework, the Financial Crimes Enforcement Network (FinCEN) has issued a proposed rule that would reform how financial institutions design and operate their anti-money laundering and countering the financing of terrorism (AML/CFT) programs. Though not a wholesale rebuild of the existing framework, FinCEN and the banking regulators are signaling a new emphasis on an approach that prioritizes risk-based effectiveness over process-driven compliance and establish FinCEN’s central role in AML/CFT supervision among the Federal bank regulators.… Continue Reading

In Episode 3 of our Debt Sales 101 mini-series, we discuss who buys charged-off debt and how debt sale transactions are typically structured. We explain how different buyers specialize in different asset classes and how buyers evaluate portfolios from legal, regulatory, and commercial perspectives.

From a buyer’s perspective, purchasing debt is not just a credit decision.… Continue Reading

On April 23, we will release a timely and wide-ranging episode of the Consumer Finance Monitor Podcast featuring Sam Levine, Commissioner of the New York City Department of Consumer and Worker Protection (DCWP). In this episode, Commissioner Levine offers an inside look at how New York City is stepping up its consumer protection efforts at a moment of significant diminishment at the federal level, particularly the CFPB.  … Continue Reading

In this episode of the Consumer Finance Monitor Podcast, host Alan Kaplinsky is joined by colleagues Pilar French and Burt Rublin to unpack a rapidly evolving issue at the intersection of bank–FinTech partnerships and interstate lending: the renewed exercise of state opt-out authority under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA).… Continue Reading

A significant new filing on March 31 in the D.C. Circuit Court of Appeals, National Treasury Employees Union v. Vought (Case No. 25-5091), purportedly provides the most up-to-date, detailed picture yet of how leadership of the Consumer Financial Protection Bureau (CFPB) intends to dramatically scale back the agency’s operations—if permitted to do so by the courts.… Continue Reading

We are pleased to share a notable milestone for the Consumer Finance Monitor podcast: for the first time, a leading industry publication “Inside the CFPB” has written about one of our episodes.

In its April 6, 2026 issue, “Inside the CFPB,” a widely read subscription publication published by “Inside Mortgage Finance Publications” highlighted our recent podcast episode released on April 2, 2026 featuring discussion of emerging regulatory developments in the buy now, pay later (BNPL) space.… Continue Reading

FTC Chairman Andrew N. Ferguson has sent letters to four major financial services providers warning them that they may not engage in debanking—disqualifying potential and current customers from receiving services based on religious, or political views.

The letters were sent to the CEOs of PayPal, Stripe, Visa, and Mastercard and cite publicly reported instances of debanking by PayPal and Stripe.… Continue Reading

On March 20, 2026, the White House released its National Policy Framework for Artificial Intelligence. This Framework contains a sweeping set of legislative recommendations intended to establish a coherent, nationally unified approach to AI governance. While the Framework does not itself create binding legal obligations, it is likely to shape federal AI legislation in the months and years ahead.… Continue Reading