The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) on August 27, 2026, finalized a rule that establishes new standards for determining when a bank has engaged in an “unsafe or unsound practice” and when examiners may issue a Matter Requiring Attention (MRA) (for the FDIC, MRAs will now replace the former MRBAs, Matters Requiring Board Attention).… Continue Reading

Hearing will focus on whether Section 525 permits an opt-out state to regulate loans made by out-of-state state banks

On Wednesday, September 2, the House Financial Services Committee will hold a hearing entitled “Strengthening the American Economy: Promoting Growth, Opportunity, and Prosperity.” The hearing will begin at 10:00 a.m. ET in Room 2128 of the Rayburn House Office Building.… Continue Reading

A state senator in New York introduced a bill that, if adopted, would exercise New York’s right under Section 525 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”) to opt-out of DIDMCA preemption. However, there is virtually no chance that this bill will be enacted this year.… Continue Reading

Online bill payment company Doxo will pay $2.1 million to settle an FTC complaint that alleged that the firm and two of its co-founders used misleading search advertising to impersonate consumers’ billers and misled consumers about junk fees they added to their bills.

According to a 2024 complaint, filed in the U.S.… Continue Reading

New Podcast Explores the Distributional Costs of Effective Consumer Regulation

Disclosure has long been one of the principal tools of consumer protection. The basic premise seems straightforward: if consumers are given better information about the terms of a transaction, they should be able to make better-informed decisions.

But what if better disclosure works differently for different consumers?… Continue Reading

John Crews has been sworn in as a member of the NCUA board and has been designated by President Trump as its Chairman.

Crews, who has worked for Trump and Republicans on Capitol Hill, currently is the sole member of the three-member NCUA board. Crews replaces Kyle Hauptman

“I appreciate the trust and support that the President has placed in me, and the U.S.… Continue Reading

As previously reported, in February 2022, eight federal agencies issued an Interagency Statement encouraging the offering of special purpose credit programs (SPCPs) under the Equal Credit Opportunity Act (ECOA). The agencies were the CFPB, FDIC, OCC, Fed, NCUA, HUD, DOJ, and FHFA. Seven of the agencies have now rescinded the Interagency Statement.… Continue Reading

A federal judge has issued a Temporary Restraining Order blocking the operation of a network of 16 related companies and their principals that operated a credit repair business.

At the request of the FTC, Judge Steven Logan of the U.S. District Court for the District of Arizona has blocked Credit Glory from conducting business.… Continue Reading

The FDIC has announced the panel for its new Office of Supervisory Appeals. The panel is comprised of independent officials who will consider and resolve appeals of material supervisory determinations brought before the agency.

The office is a standalone office inside the FDIC and replaces the Supervision Appeals Review Committee (SARC) as the last level of review of material supervisory determinations.… Continue Reading

In the latest episode of the Consumer Finance Monitor podcast that we are releasing today, we explore a topic that is becoming increasingly important for financial services companies and virtually every other business operating in today’s digital economy: how privacy, cybersecurity, and AI governance can be transformed from compliance obligations into sources of customer confidence, resilience, and competitive advantage.… Continue Reading