We’re pleased to announce the upcoming release of a new episode of the Consumer Finance Monitor Podcast, dropping Thursday, February 12 — just days before New York’s landmark FAIR Business Practices Act takes effect on February 17.

In this timely episode, we take a deep dive into what is widely viewed as the most significant overhaul of New York’s consumer protection statute in nearly fifty years.… Continue Reading

The U.S. Supreme Court recently heard oral arguments in Trump v. Cook, involving the issue of whether the President may remove Lisa Cook as a member of the Board of Governors of the Federal Reserve Board. Board Members may be removed “for cause,” and the President has cited alleged mortgage fraud as the basis for the removal of Cook as a Board Member.… Continue Reading

The CFPB has received the funding it requested from the Federal Reserve, according to a January 15 letter submitted by the Justice Department to the court in the lawsuit filed against the CFPB by the National Treasury Employees Union.

On January 9, CFPB Acting Director Russell Vought notified Judge Amy Berman Jackson that, in response to her December 30, 2025 opinion in National Treasury Employees Union v.… Continue Reading

Our podcast show this week consists of a webinar we produced on November 10, 2025, titled, “Breaking Developments in National Bank Act Preemption.” Join our panel of top legal experts as they break down how landmark court rulings are changing the rules for national banks, examine the growing application of state law, and discuss what these changes mean for compliance, risk, and the future of consumer financial services.… Continue Reading

We recently blogged about President Trump’s Truth Social post in which he announced his intent to impose a 10% per annum interest rate cap on credit cards for one year beginning on January 20, 2026, the one-year anniversary of his second term of office. On January 21, during his speech delivered at the World Economic Forum in Davos, Switzerland, he announced his support for legislation to accomplish that result.… Continue Reading

The CFPB, under former Director Rohit Chopra, regularly engaged in regulatory overreach, the Bureau’s current leadership said in its semi-annual report, covering the period from April 1- September 30, 2024.

“As indicated throughout the Report, under his leadership, the Bureau regularly engaged in an overreach of its statutory mandates via punishment of disfavored industries,” the Bureau, under current Acting Director Russell Vought said, in the report.… Continue Reading

Promising that the NCUA will not engage in “regulation by enforcement,” NCUA Chairman Kyle Hauptman has sent a letter to credit unions outlining his supervisory priorities for 2026.

“NCUA is dedicated to supporting credit unions, developing right-sized regulations and policies that safely advance innovation within the credit union system, and protecting member deposits and the Share Insurance Fund through productive, streamlined credit union supervision,” Hauptman wrote in his letter.… Continue Reading

In a Truth Social post, President Trump backed a bill called the Credit Card Competition Act (sometimes called the Durbin-Marshall credit card mandate), saying it will help put an end to what he calls “out-of-control swipe fee rip-offs.” Swipe fees — more formally known as interchange fees — are the charges merchants pay every time a customer pays with a credit card.… Continue Reading

Join us for a timely and insightful conversation on the evolving landscape of anti-money laundering (AML) compliance in consumer financial services. In this episode of the Consumer Finance Monitor Podcast, Alan Kaplinsky, founder and senior counsel of Ballard Spahr’s Consumer Financial Services Group, hosts Terence Grugan, co-chair of Ballard Spahr’s AML team and a recognized authority in financial crimes compliance.… Continue Reading

On January 12, 2026, the Office of the Comptroller of the Currency (OCC) issued a notice of proposed rulemaking to amend its national bank chartering regulation, 12 C.F.R. § 5.20, to clarify a point the agency views as well settled: national banks chartered as trust companies may engage in certain non-fiduciary activities in addition to fiduciary activities.… Continue Reading