Alan S. Kaplinsky

Subscribe to Alan S. Kaplinsky's Posts
Contact:Read more about Alan S. Kaplinsky

Citing a host of recent U.S. Supreme Court rulings interpreting the Federal Arbitration Act (FAA), the Securities and Exchange Commission (SEC) has “determined that the presence of an issuer-investor mandatory arbitration provision will not impact decisions whether to accelerate the effectiveness of a registration statement under the Securities Act.” This new policy statement reverses the agency’s previous position that it would not use its authority to accelerate the effective date of a company’s registration statement when the company’s governing documents contained a mandatory arbitration provision covering disputes under the federal securities laws.… Continue Reading

President Trump is asking the Supreme Court to allow him to fire Lisa D. Cook from the Federal Reserve Board.

“This application involves yet another case of improper judicial interference with the President’s removal authority—here, interference with the President’s authority to remove members of the Federal Reserve Board of Governors for cause,” Solicitor General D.… Continue Reading

The CFPB has released an ambitious Spring Regulatory Agenda that lists 24 regulatory initiatives the bureau has been and/or will be working on during the 12-month period from June 2025 through May 2026 as well as one long term action.

“The CFPB is under interim leadership pending the confirmation of a permanent director, and is carefully considering various sources in setting its future priorities,” the agency said.… Continue Reading

The OCC has issued two bulletins clarifying how it will handle debanking at its supervised institutions.

One bulletin states that the agency will assess debanking in connection with licensing activities, including, but not limited to, charter applications, charter conversions, applications to exercise fiduciary powers, branch applications and requests for approval of business combinations, and as part of its Community Reinvestment Act reviews.… Continue Reading

The CFPB is proposing a rule that standardizes determinations that nonbanks pose “risks to consumers,” a move that could result in fewer nonbanks being designated as posing risk and thus subject to CFPB supervisory jurisdiction.

The proposed rule states that “conduct that poses risks to consumers with regard to the offering or provision of consumer financial products or services” consists of conduct that:

  • Presents a high likelihood of significant harm to consumers; and
  • Is directly connected to the offering of a consumer financial product or service as defined by the CFPA.
… Continue Reading

President Trump is appealing a federal judge’s decision that blocked him from firing Lisa Cook from the Federal Reserve Board.

Trump filed a brief notice in U.S. District Court for the District of Columbia saying he would appeal Judge Jia M. Cobb’s decision to the U.S. Court of Appeals for the District of Columbia.… Continue Reading

Chief Justice John Roberts has issued a temporary stay allowing President Trump to fire recently reinstated FTC Commissioner Rebecca Slaughter, even though she was fired without cause.

Slaughter, the lone Democrat on the Commission, had been reinstated by a divided panel of the U.S. Court of Appeals for the District of Columbia.… Continue Reading

A divided federal appeals court has ruled that President Trump illegally fired Democratic FTC member Rebecca Slaughter and has ordered that she be reinstated to her position.

“The government has no likelihood of success on appeal given controlling and directly on point Supreme Court precedent,” Judges Patricia Millett and Cornelia Pillard of the U.S.… Continue Reading

Citing President Trump’s Executive Order, the SBA has sent letters to its network of more than 5,000 lenders instructing them to end what the Trump Administration said is politicized or unlawful debanking.

The SBA is requiring all lenders to stop debanking and reinstate qualified customers who were denied services on the basis of political, religious or ideological beliefs.… Continue Reading

On August 7, President Trump signed a landmark executive order, “Guaranteeing Fair Banking for All Americans.” This sweeping action prohibits financial institutions of any size from denying services to individuals or businesses based on political or religious beliefs, orientation, or lawful industry involvement.

The order is already being called one of the most consequential banking actions in years.… Continue Reading