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...
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has imposed record-breaking penalties on major banks for violating the Bank Secrecy Act (BSA) and the Office of Foreign Assets Control (OFAC) sanctions. These penalties underscore...
Anti-money laundering (AML) laws and regulations promote comprehensive frameworks for financial institutions and other entities to implement effective AML programs, ensure compliance with federal and state regulations, and facilitate cooperation with law enforcement...
Credit repair services are regulated under both federal and state laws. The Credit Repair Organizations Act (CROA) is a federal consumer protection law regulating credit repair service providers. Explore this practice note for an overview of CROA, its purpose,...
Litigation and regulatory enforcement actions by federal and state regulators have dominated the news feeds in the past months. Review the Cryptocurrency and Litigation tracker, developed by Jason Gottlieb, Partner at Morrison Cohen LLP, for up-to-date information...
The Consumer Financial Protection Bureau recently issued a proposed rule that, if passed, would alter the current Regulation X mortgage servicing procedures. Regulation X provides consumer protection in the context of several substantive aspects of the mortgage...