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On September 16, 2026, the House Financial Services Committee (Committee) approved H.R. 7866, the American Lending Fairness Act of 2026, legislation introduced by Rep. Warren Davidson (R-Ohio) and Rep. Andy Barr (R-KY) that would address the effect of state opt-outs under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) on interest-rate exportation by state-chartered banks and credit unions located outside an opt-out state and making loans to a resident of the opt-out state.… Continue Reading

Executive Summary

The Conference of State Bank Supervisors (CSBS), the nationwide organization representing state banking and financial regulators, has endorsed legislation that would clarify a critical issue concerning the scope of Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA). The development comes as the House Financial Services Committee prepares to mark up H.R.… 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

On September 1, 2026, Ballard Spahr (through its representative, Adam Maarec), in response to an invitation from the House Financial Services Committee (HFSC or Committee), attended a roundtable at the U.S. Capitol focused on the future of the Consumer Financial Protection Bureau. The discussion, “Modernizing Consumer Financial Protection: Reform, Accountability, and Opportunity,” featured House Financial Services Committee Chairman French Hill, Financial Institutions Subcommittee Chairman Andy Barr, Consumer Bankers Association President and CEO Lindsey Johnson, and Financial Technology Association President and CEO Penny Lee, with opening remarks from former CFPB Director Kathy Kraninger.… 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

David McGrath of HFSC Staff to be Guest on Webinar on August 24, 2026

The House Financial Services Committee has taken the next step in its effort to overhaul the Consumer Financial Protection Bureau (CFPB) by inviting public comment on the discussion draft of the CFPB Reform Act of 2026.… Continue Reading

We are delighted to announce that David McGrath, Majority Staff of the House Financial Services Committee and one of the architects of the CFPB Reform Act of 2026 Discussion Draft will be our featured guest for Ballard Spahr’s webinar on Monday, August 24, 2026, from 12:00 p.m. to 1:30 p.m. ET.… Continue Reading

The House Financial Services Committee has approved legislation that would establish the first comprehensive federal regulatory framework for earned wage access (EWA) providers, marking a significant development for the rapidly growing industry. The bill now moves to the full House for consideration.

If enacted, the legislation would provide long-sought federal clarity for providers of earned wage access products while also addressing the continuing debate over whether these products should be regulated as loans.… Continue Reading

On June 13, 2024, CFPB Director Rohit Chopra appeared before the House Financial Services Committee for a hearing, “The Semi-Annual Report of the Bureau of Consumer Financial Protection.” As we expected, the House Financial Services Committee also tackled the earnings issue raised by Senator John Kennedy (R-LA). We previously blogged that CFPB Director Rohit Chopra was dismissive of the argument that the CFPB was unlawfully funded out of losses of the Federal Reserve Banks.… Continue Reading