The Federal Communications Commission (“FCC”) announced yesterday that it approved new rules implementing the Telephone Consumer Protection Act (“TCPA”), overriding rules promulgated in 2024 that had yet to go into effect. Read More
Chief Judge Virginia M. Kendall has expanded the injunction against the Illinois Interchange Fee Prohibition Act that limits socalled “swipe fees” on tax-and-tip-portions of transactions following the National Credit Union Administration’s (NCUA) interim final preemption rule in June, which followed similar preemption action by the Office of the Comptroller of the Currency in April. See Illinois Bankers Association v. Raoul, No. 24-C-7307, __ F.Supp.3d __ (N.D. Ill., Sept. 22, 2026) and our ALERTS of June 8 and May 26, 2026. Read More
The Conference of State Bank Supervisors (CSBS) has issued a letter to the U.S. House Financial Services Committee in support of the bipartisan American Lending Fairness Act of 2026 [H.R. 7866]. See our ALERT of Sept. 22, 2026; see also companion bill S. 3889. Read More
The U.S. House Financial Services Committee has approved the American Lending Fairness Act of 2026 (H.R. 7866). The bill would clarify state opt-outs under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (DIDMCA) for state-chartered banks and credit unions. A companion bill was introduced in the U.S. Senate. Read More
The Board of Directors of the FDIC approved a proposed rule to recognize parity between out-of-state state banks and national banks concerning the application of host state laws when state banks provide services outside of their chartering state. Under the proposed rule, when host state laws do not apply to a national bank, those laws would similarly not apply to an out-of-state state bank providing services in the host state with or without a branch. Read More
The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued a joint final rule to define the term “unsafe or unsound practice” for purposes of Section 8 of the Federal Deposit Insurance Act (FDIA) and revised the supervisory framework for the issuance of matters requiring attention (MRA) focusing on material financial risk. Read More
On August 10, the Federal Deposit Insurance Corporation (“FDIC”) announced a new two-phase process for reviewing deposit insurance applications. The new process is intended to encourage new bank formation, accelerate the speed of the review process and improve the efficiency of the application process. The FDIC has historically been notoriously reluctant to approve deposit insurance applications for a variety of reaso Read More
It was a busy July for briefing before (i) the U.S. Court of Appeals for the 10th Circuit for its en banc review in National Association of Industrial Bankers v. Weiser,1 and (ii) the U.S District Court in Oregon in National Association of Industrial Bankers v. O’Day.2 See our ALERTS of Apr. 2, 2026 and June 16, 2026. Read More
Ten states, led by Oregon and New York, have sued the Office of the Comptroller of the Currency (“OCC”) to block the OCC’s recent preemption rule regarding state interest-on-escrow requirements. Complaint, Oregon v. OCC, No. 3:26-cv-1672 (D. Or. filed Aug. 11, 2026); see our ALERT of Jan. 2, 2026; see also our ALERT of May 11, 2026. Read More
On August 11, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) released a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership (UBO) information to FinCEN under the Corporate Transparency Act. FinCEN will also delete previously reported information on U.S. persons. Read More