The Federal Deposit Insurance Corporation (FDIC) recently proposed changes to custodial deposit accounts with transactional features, aiming to ensure the prompt payment of deposit insurance to depositors. The proposed rule seeks to define FDIC pass-through insurance...
The federal bank regulatory agencies issued a statement of their intent to rescind the Community Reinvestment Act (CRA) final rule, issued in October 2023, and reinstate the CRA framework that existed prior to the October 2023 final rule. CRA was implemented to...
The Consumer Finance Protection Bureau (CFPB) oversees consumer protection laws in debt-related services to ensure fair and transparent practices, as well as safeguard consumer rights. State level efforts complement federal oversight by providing guidance and interpretations...
Automatic teller machine (ATM) regulations ensure consumer protection, security, and accessibility. Innovations in digital banking and mobile payments are prompting regulators to adapt policies to keep pace with technological advancements and consumer needs. Explore...
Meme coins are not considered securities subject to federal securities regulations. This statement from the Securities Exchange Commission (SEC) staff means that transactions involving meme coins do not require registration, supervision, or enforcement by the SEC...
Money laundering remains a significant concern for U.S. financial institutions. Financial institutions must constantly update their anti-money laundering (AML) and Office of Foreign Assets Control (OFAC) sanction programs to detect and prevent these activities...
Litigating Real Estate Settlement Procedure Act (RESPA) and Regulation X claims involve addressing violations related to mortgage servicing and borrower protections. Understanding the law and regulation is crucial for effective legal action. Explore this practice...
Practical Guidance offers the Mortgage Servicing Fees topic in the FSR state law comparison tool. The topic explores the statutory fee requirements in the 50 U.S. states and the District of Columbia. This question and answer series provides guidance on permissible...
Directives from the acting director of the Consumer Financial Protection Bureau (CFPB) bought the CFPB's supervisory, examination, investigations, communications, and enforcement functions to a halt on February 10, 2025. While this measure is promoted to reduce...
Is the U.S. financial system ready for a national bitcoin reserve? While a few states have proposed or passed state-level bitcoin reserve legislation, with more states anticipated in the future, legislation and regulatory clarity remain key challenges at the federal...
Consumer account disclosures are mandated under state law to ensure transparency into product rates, fees, and other charges from financial institutions. Practical Guidance offers a Consumer Account Disclosures topic in the Financial Services Regulation State Law...
The Corporate Transparency Act (CTA) beneficial ownership information reporting was mandated under the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021. CTA requires companies that are formed or registered to do business in the...
The financial services industry is poised to undergo key transformations at the onset of a new administration in 2025. The focus of the incoming administration is characterized by deregulation to reduce regulatory burdens and technological advances to promote growth...
LexisNexis® offers the highly regarded Lexology Panoramic international guides for practitioners. Review questions and answers from leading law firms, across jurisdictions, on topics ranging from regulatory authority and statutory requirements to potential...
Federal laws have introduced new regulations and guidelines for lenders using artificial intelligence (AI) and machine learning (ML) tools, particularly focusing on fair lending practices. These laws aim to ensure that AI and ML are used in a manner that promotes...