CFPB, Federal Agencies, State Agencies, and Attorneys General
Accessibility
SCOTUS keeps issue of “tester” standing alive, dismissing ADA website appeal as mootThe Supreme Court Keeps Issue of “Tester” Standing Alive, Dismissing ADA Website Appeal as MootDOJ proposal to increase accessibility of government websites and mobile apps could guide accessibility for places of public accommodation Artificial Intelligence
Today’s podcast episode: AI in Financial Services: Understanding the White House Action Plan – and What It Leaves Out – Part 2Today's podcast episode: AI in Financial Services: Understanding the White House Action Plan – and What It Leaves Out – Part 1Today’s podcast episode: Current State Statutes That Apply to AI in the Consumer Financial Services Industry Consumer Bankers Association
Bank associations seek a preliminary injunction to block CFPB overdraft ruleThis week’s podcast episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services IndustryNew research suggests proposed Regulation II revisions lowering debit card interchange fees will cost consumers up to $2 billion annually Crypto
Today's podcast episode: Significant 2025 Deregulatory Developments in Banking LawToday's podcast episode: The GENIUS Act and the Future of Stablecoins: What Banks and Fintechs Need to Know - Part 2Today's podcast episode: The GENIUS Act and the Future of Stablecoins: What Banks and Fintechs Need to Know - Part 1 Cyber Currency
FHFA directs Fannie Mae, Freddie Mac to develop plans to use cryptocurrency as assets without conversion to dollarsBSA Filings and Their Utility to Law Enforcement: A Guest BlogOCC highlights risks associated with compliance staffing concerns, Russia sanctions, environmental crimes, cyber attacks and digital assets Debit Cards
Court grants partial injunction for National Banks and Federal Savings Associations in the lawsuit challenging the Illinois Interchange Fee Prohibition ActIndustry groups file motion to intervene in Corner Post debit card interchange caseBank and Credit Union Industry Groups Challenge Illinois Interchange Fee Prohibition Act as Unlawful and Urge the Court to Stop the Operational Havoc Digital Currency
FHFA directs Fannie Mae, Freddie Mac to develop plans to use cryptocurrency as assets without conversion to dollarsHouse steering panel chooses French Hill as next Financial Services ChairOCC highlights risks associated with compliance staffing concerns, Russia sanctions, environmental crimes, cyber attacks and digital assets Electronic Payments
CFPB settles action against processor of mortgage payments for erroneous processing of payments and deficient information security practicesDemocratic Senators send letter to federal banking agencies raising concerns about fraudulent transactionsCFPB issues report on delivery of public benefits payments Financial Crimes Enforcement Network (FINCEN)
Today’s podcast episode: A National Strategy to Prevent Scams – “United We Stand”Financial institutions may rely on third parties for Social Security, Taxpayer Identification NumbersFinCEN Alert: Fraud schemes using generative artificial intelligence to circumvent financial institutions' identity verification, authentication, and due diligence controls FinCEN
Deregulation on the Horizon for Non-Bank Financial InstitutionsFinCEN Alert: Fraud schemes using generative artificial intelligence to circumvent financial institutions' identity verification, authentication, and due diligence controlsFinCEN’s Notice of Proposed Regulations to Strengthen and Modernize AML/CFT Compliance Programs: A Podcast General
American College of Consumer Financial Services now accepting nominations of qualified lawyers to become new Fellows in the American College32 Attorneys General call for enactment of marijuana banking legislationNational ranking from Chambers USA awarded again to Ballard Spahr’s Consumer Financial Services Group in 2025 Income Share Agreements
CFPB Takes Action Against BloomTech, Inc. for ISAs that Violate TILA, UDAAP, and the FTC’s Holder RuleCFPB settles claims against operator of training program arising out of income share agreementsNJAG and FTC announce $4.605 million settlement with for-profit college over job placement rate claims and income share agreements Lead Generation
CFPB Press Release and Circular cite “abusive” steering practices in connection with comparison-shopping tools and lead generatorsBallard Spahr to hold Feb. 20 webinar on TCPA developments impacting consent and lead generationNew FCC rule on TCPA consent for advertising and telemarketing calls and texts will significantly impact callers who obtain consent from lead generators Payments
NY Attorney General sues Early Warning Services for Zelle Network’s lax security measuresToday’s podcast episode: A Debate About The Need, If Any, For a Federal Charter for Non-Banks Engaged in the Payments BusinessCFPB issues final rule to give bureau supervisory power over digital consumer payment applications Podcasts
Today’s podcast episode: Credit Card Rate Caps and the Credit Card Competition Act: The Right Problem, the Wrong Tools?Today’s podcast episode: A National Strategy to Prevent Scams – “United We Stand”Today's podcast episode: The Consumerization of Small Business Lending: Federal and State Regulations Accelerate Preemption
Today’s podcast episode: Breaking Developments in National Bank Act PreemptionGould says OCC will take steps to promote federal preemptionToday’s podcast episode: First Circuit Rules National Bank Act Does Not Preempt Rhode Island State Law: Is There Still Any Advantage to Having a National Bank Charter? Remittance Transfers
CFPB Spring 2025 Regulatory Agenda – Final Rule Stage – Remittance Transfer Rule (Regulation E)CFPB orders remittance transfer provider to pay almost $2.5 million for alleged illegal activitiesCFPB proposes ‘narrow’ amendment to disclosure requirements for international remittances and money transfers Risk Assessment
Three Members of Congress and U.S. Treasury Express Concerns that Florida Law Prohibiting Banks from Considering Customers’ Business Sectors or Political or Religious Beliefs Conflicts with Federal AML/CFT RequirementsFederal Banking Agencies Issue NPRM Consistent with FinCEN’s AML/CFT Modernization ProposalDepartment of Treasury Issues Strategy on De-Risking Small Dollar Loans
Trade groups challenging CFPB payday loan rule file opening brief with Fifth CircuitTexas federal court denies trade groups’ motion to extend stay of payment provisions compliance date until appeal resolved; trade groups ask Fifth Circuit to extend stayCFPB files opposition to trade groups’ motion to extend stay of payment provisions compliance date until appeal resolved; trade groups file response Small-dollar loans
Appeals court denies en banc hearing in CFSA’s challenge to CFPB’s payday ruleNevada enacts amendments regarding working from remote locations for Installment Loan Company licensees and collection of medical debtThis week's podcast episode: A close look at the recent study of the effects of Illinois' 36% “all-In” interest rate cap on small-dollar credit availability, with special guest Tom Miller, Professor of Finance, Mississippi State University, and study co-author State Attorneys General
New York City Adopts Sweeping SHIELD Debt Collection Rule: How It Differs from Prior DCWP Rules and CFPB Regulation FOregon Legislature Reintroduces DIDMCA OPT-OUT LEGISLATION– H.B. 4116Moreno-Davidson Bill Seeks to Reverse Tenth Circuit and Restore Interest Rate Exportation Parity Between State and National Banks State Regulation
New York City Adopts Sweeping SHIELD Debt Collection Rule: How It Differs from Prior DCWP Rules and CFPB Regulation FOregon Legislature Reintroduces DIDMCA OPT-OUT LEGISLATION– H.B. 4116Moreno-Davidson Bill Seeks to Reverse Tenth Circuit and Restore Interest Rate Exportation Parity Between State and National Banks TCPA
Federal Judge issues injunction against student loan servicer Superior ServicingSupreme Court accepts case seeking to determine whether district courts must accept FCC’s interpretation of TCPAThis week's podcast episode: Telephone Consumer Protection Act update: Developments impacting consent and lead generation Technology
Today's podcast episode: Opportunities in the Solar Finance Industries Despite Trump 2.0BSA Filings and Their Utility to Law Enforcement: An Industry ViewpointThis week's podcast episode: Using financial technology to improve consumers' financial health, a conversation with special guest Leigh Phillips, President and CEO of SaverLife and Chair of the CFPB's Consumer Advisory Board (CAB) Usury
California Court Grants Summary Judgment to OppFi, Rejects DFPI “True Lender” TheoryPlaintiffs oppose Colorado’s motion for a stay of the preliminary injunction in the Colorado opt-out litigationTenth Circuit sets briefing schedule in appeal from preliminary injunction granted to trade groups with respect to Colorado opt-out statute
