CFPB, Federal Agencies, State Agencies, and Attorneys General
FinCEN and the federal banking agencies have clarified that Suspicious Activity Report (SAR) confidentiality does not prevent banks from communicating with customers about the underlying transactions or conduct that prompted concern, including explaining certain fraud-related restrictions or account closures.
The September 2 joint statement from FinCEN, the Federal Reserve, FDIC, NCUA and OCC does not change the Bank Secrecy Act or impose new supervisory requirements.… Continue Reading
Proposed legislation that would clarify the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) is important to the health of the dual banking system, Kathleen Kraninger, President and CEO of the Florida Bankers Association, told the House Financial Services Committee at a hearing held on September 2, 2026 entitled “Strengthening the American Economy: Promoting Growth, Opportunity, and Prosperity.”… Continue Reading
As we have chronicled in our blog, states are increasingly moving to fill the consumer-protection void created by the CFPB’s dramatic retreat from supervision, enforcement and rulemaking. State legislatures are considering and enacting new consumer-finance protections; state attorneys general are bringing more enforcement actions under state UDAP and other laws, often in bipartisan and multistate coalitions; and state financial regulators are expanding their supervisory and enforcement efforts.… Continue Reading
The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) on August 27, 2026, finalized a rule (which was published in the Federal Register on September 1, 2026) that establishes new standards for determining when a bank has engaged in an “unsafe or unsound practice” and when examiners may issue a Matter Requiring Attention (MRA) (for the FDIC, MRAs will now replace the former MRBAs, Matters Requiring Board Attention).… Continue Reading
Hearing will focus on whether Section 525 permits an opt-out state to regulate loans made by out-of-state state banks
On Wednesday, September 2, the House Financial Services Committee will hold a hearing entitled “Strengthening the American Economy: Promoting Growth, Opportunity, and Prosperity.” The hearing will begin at 10:00 a.m. ET in Room 2128 of the Rayburn House Office Building.… Continue Reading
A state senator in New York introduced a bill that, if adopted, would exercise New York’s right under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) to opt-out of DIDMCA preemption. However, there is virtually no chance that this bill will be enacted this year.… Continue Reading
The purpose of this blog is to respond to questions we have received as to why a state like Colorado would ever use Section 525 of DIDMCA to opt out of Section 521 of DIDMCA if it would not preclude rate exportation by out-of-state, state-chartered banks. The question suggests that Congress would not have enacted Section 525 for any purpose other than to prevent rate exportation.… Continue Reading
The Federal Trade Commission (FTC) has taken another important step in the rapidly developing debate over “surveillance pricing.” On August 19, the FTC issued for public comment a Proposed Enforcement Policy Statement Regarding Personalized Pricing, warning businesses that using consumers’ personal data to set individualized prices without adequate disclosure may violate Section 5 of the FTC Act. … Continue Reading
The battle over the scope of the Office of the Comptroller of the Currency’s authority to preempt state consumer financial laws has entered a new phase. On August 11, 2026, Oregon and nine other states with “blue” attorneys general filed a lawsuit challenging two rules adopted by the OCC that purport to preempt state laws requiring mortgage lenders to pay interest on funds held in escrow accounts.… Continue Reading
The Consumer Financial Protection Bureau announced on August 14, 2026, that it will cease its discretionary publication of consumer complaint narratives and associated data visualizations in the Consumer Complaint Database which it is statutorily required to maintain under the Dodd-Frank Act. The CFPB’s announcement represents a significant change in the way the Bureau makes consumer complaint information available to the public.… Continue Reading
