Noting that impersonation scams have topped the list of consumer fraud complaints reported to the FTC in recent years, the commission is considering whether to update its Rule on Impersonation of Government and Businesses or take other action to prevent ad-optimization practices by online platforms that may be furthering impersonation scams.… Continue Reading

California has once again expanded its regulation of financial services. On September 30, 2026, Governor Gavin Newsom signed Assembly Bill 2116, which will subject a broad range of commercial financing providers and brokers to licensing, substantive conduct requirements, and regulatory oversight by the California Department of Financial Protection and Innovation (DFPI).… Continue Reading

Saying that taking action against payment processors is an effective way to reach foreign and domestic businesses that scam consumers, the FTC has announced it has settled with two such processors, Nuvei and Humboldt Merchant Services.

“Payment processors are crucial intermediaries between businesses and consumers that must take their role seriously and operate in good faith to screen out bad actors; they should be able to do so without fear that they will become responsible whenever an associated merchant behaves poorly,” Commission Chairman Andrew N.… Continue Reading

For decades, the debate over arbitration agreements and class action waivers in consumer financial services contracts has largely played out in courtrooms, before regulators and Congress, and in academic journals. Advocates and critics have debated issues ranging from consumer access to justice and deterrence to litigation costs and whether the benefits of arbitration are ultimately passed along to consumers.… Continue Reading

Legislation that prohibits a health care provider or debt collector from reporting medical debt to credit reporting agencies has become law in Washington, D.C.

The legislation became law without the signature of Mayor Muriel Bowser, who said she supported the medical debt provisions, but opposed some unrelated provisions.

Among other things, the law:

  • Prohibits a health care provider or debt collector collecting on a medical debt from:
  • Garnishing of wages for those patients with a household income below 500% of the federal poverty level.
… Continue Reading

The Office of the Comptroller of the Currency (OCC) has responded to the multistate lawsuit challenging its recent actions concerning mortgage escrow accounts with a motion that presents a merits argument as well as three distinct procedural paths: dismissal, transfer, or, potentially, a pause while the Supreme Court considers related preemption issues.… Continue Reading

The Supreme Court yesterday took an important step toward resolving the growing uncertainty over the scope of National Bank Act preemption. In an order issued October 5, the Court invited the Solicitor General to file briefs expressing the views of the United States in three cases involving state laws requiring national banks to pay interest on mortgage escrow accounts: Cantero v.… Continue Reading

On September 29, President Trump brought together many of the leading executives in artificial intelligence for a White House meeting focused on the risks associated with increasingly powerful “frontier” AI systems. The meeting produced a one-page document entitled the “White House Accord on Super Intelligence, Joint Commitment on Frontier Responsibilities.”… Continue Reading

The Independent Community Bankers of America (ICBA) has taken its long-running opposition to the Office of the Comptroller of the Currency’s (OCC) chartering of cryptocurrency companies to the courts.

On October 2, ICBA filed suit in the U.S. District Court for the District of Columbia against the OCC and Comptroller Jonathan Gould, challenging the OCC’s authority to charter non-depository, non-fiduciary cryptocurrency companies as national trust banks.… Continue Reading

Summary

On October 1, 2026, Assistant Attorney General Colin M. McDonald of the Department of Justice (DOJ) National Fraud Enforcement Division issued Directive 26-12 on corporate enforcement. The directive identifies four priority areas and instructs prosecutors to give “great weight” to a non-exhaustive list of factors in determining whether to bring charges and in negotiating plea or other agreements.… Continue Reading