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.
Firm News
Judge Expands Illinois Interchange Injunction To Include Credit Unions
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.
Conference Of State Bank Supervisors Issues Letter In Support Of Didmca Bill
Didmca Opt-out Clarification Bill Progresses In House
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.
FDIC Proposes Rule To Establish Parity Between Out-Of-State State Banks And National Banks
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.
OCC and FDIC to Prioritize Material Financial Risks
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.
FDIC And Occ Tout Improvements To Promote New Bank Charters
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
Summer Roundup: It’s Raining Briefs In Didmca Litigation
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.
Ten States Sue Occ Over Escrow Preemption Rule
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.
Fincen Permanently Ends U.S. Beneficial Ownership Reporting
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.