CFPB, Federal Agencies, State Agencies, and Attorneys General
House and Senate committees next week will hold hearings on the “The Semi-Annual Report of the Bureau of Consumer Financial Protection.”
The hearings will mark the first time that Trump Administration CFPB officials will testify before Congress.
The House Financial Services Committee hearing will be held at 10 a.m. on July 15, while the Senate Banking, Housing and Urban Affairs hearing will be held at 10 a.m.… Continue Reading
The latest episode of the Consumer Finance Monitor podcast examines a significant and coordinated regulatory initiative that could reshape anti-money laundering and countering the financing of terrorism (AML/CFT) compliance across the financial services industry.
In this episode, host Alan Kaplinsky and guest Celia Cohen, a partner in Ballard Spahr’s White Collar Defense and Investigations Group, analyze the joint notice of proposed rulemaking issued by the federal banking agencies Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, and National Credit Union Administration—alongside a parallel proposal from Financial Crimes Enforcement Network (FinCEN).… Continue Reading
At a May 19, 2026 Ballard Spahr webinar, “Cutting Out the Middleman: The Surge in FinTech Applications to Charter Banks, Industrial Banks and National Trust Companies,” a distinguished panel of banking, fintech, crypto, and consumer financial services experts explored one of the most important developments currently reshaping the financial services industry: the growing movement by fintech companies, payments firms, lenders, and crypto-native businesses to obtain their own banking charters rather than relying on traditional bank partnerships.… Continue Reading
The FTC has continued to crackdown on subscription billing and cancellation practices it considers unlawful.
Recently, at the urging of the FTC, a federal court agreed to temporarily stop a large business enterprise allegedly built on deceptive subscription schemes from continuing to deceive consumers with hidden costs and recurring charges, while failing to provide simple means to cancel their subscriptions.… Continue Reading
At a May 19, 2026 Ballard Spahr webinar, “Cutting Out the Middleman: The Surge in FinTech Applications to Charter Banks, Industrial Banks and National Trust Companies,” a distinguished panel of banking, fintech, crypto, and consumer financial services professionals explored one of the most important developments currently reshaping the financial services industry: the growing movement by fintech companies, payments firms, lenders, and crypto-native businesses to obtain their own banking charters rather than relying on traditional bank partnerships.… Continue Reading
On May 12, 2026, we produced a 90-minute webinar in which we explored one of the most important and rapidly developing issues in consumer financial services law: coerced debt and the emerging legislative efforts designed to address it. The webinar has been re-purposed into a two-part podcast series, the first of which was released this past Thursday, June 11th, and the second of which is being released today, Thursday, June 18th.… Continue Reading
Banking trade groups uniformly support the nomination of former CFPB executive Brian Johnson to head the bureau.
“Brian has a distinguished track record in bank regulatory policy both at the Bureau and on Capitol Hill, and he will bring a thoughtful approach to setting the Bureau’s priorities in the years ahead if confirmed,” said Rob Nichols, President/CEO of the American Bankers Association.… Continue Reading
On May 12, 2026, we produced a 90-minute webinar in which we explored one of the most important and rapidly developing issues in consumer financial services law: coerced debt and the emerging legislative efforts designed to address it. The webinar has been re-purposed into a two-part podcast series, the first of which is being released today, June 11th, and the second of which is being released next Thursday, June 18th.… Continue Reading
For years, the debate over mandatory arbitration clauses and class-action waivers in consumer financial services contracts has largely focused on questions of consumer protection, access to justice, the validity of class action waivers in arbitration provisions, and the value of class actions as a tool for redressing systemic consumer harm and litigation policy.… Continue Reading
The Federal Reserve Board, FDIC and OCC have jointly updated interagency documents to delete references to reputational risk.
The agencies took this action to complement their earlier actions to end the use of reputational risk in supervision.
“As the agencies have previously noted, reputation risk can be misused by supervisors as a basis to encourage or pressure a bank to restrict individuals’ and legal businesses’ access to financial services due to their constitutionally protected political or religious beliefs, speech, or conduct or lawful business activities,” the agencies said, in a joint statement.… Continue Reading
