On Friday, May 15, 2026, the Office of the Comptroller of the Currency (OCC) issued two final rules on national banks’ and federal savings associations’ real estate lending powers related to mortgage escrow accounts. The actions codify a rule reflecting longstanding OCC precedent on mortgage escrow account powers and finalize the proposed preemption rule regarding interest-on-escrow laws, both of which the Second Circuit relied upon in its recent decision in Cantero v.… Continue Reading

Today’s episode of the Consumer Finance Monitor Podcast features a wide-ranging and timely discussion about one of the most consequential fair lending developments in years: the CFPB’s final rule fundamentally reshaping enforcement under the Equal Credit Opportunity Act (ECOA) and Regulation B.

Hosted by Alan Kaplinsky (the Founder, Chair for 25 years and now Senior Counsel of the Consumer Financial Services Group at Ballard Spahr, LLP), the episode brings together an exceptional panel of fair lending authorities: our special guest Bradley Blower (the Principal and Founder of Inclusive-Partners LLC) along with John Culhane, Jr.,… Continue Reading

In a significant win for parties seeking to enforce arbitration agreements, the U.S. Supreme Court yesterday issued a unanimous decision in Jules v. Andre Balazs Properties holding that when a federal court stays a case pending arbitration under Section 3 of the Federal Arbitration Act (“FAA”), the federal court retains jurisdiction to later confirm or vacate the resulting arbitration award, even if the post-arbitration motion would not independently satisfy federal subject matter jurisdiction requirements.… Continue Reading

Countering an Executive Order issued by President Trump  and the adoption by the CFPB of its final rule revising Regulation B, the New York Department of Financial Services recently issued an Industry Letter warning the financial institutions that it regulates that they must consider disparate impact when lending.

“Regulated Entities are reminded that under Section 296-a, covered credit decisions that result in a disparate impact may constitute an unlawful discriminatory practice,” the agency wrote in a letter to financial institutions.… Continue Reading

California Governor Gavin Newsom has appointed former CFPB Director Rohit Chopra to be the inaugural Secretary of a new cabinet-level agency that he created last year — the Business and Consumer Services Agency (“BCSA”). Although the appointment must be confirmed by the California Senate, the move is already generating significant attention within the financial services industry because it may signal California’s intent to assume a substantially larger role in consumer financial regulation and enforcement at a time when many expect reduced federal regulatory activity.… Continue Reading

The House Financial Services Committee recently advanced legislation to modernize the Gramm-Leach-Bliley Act (GLBA), reflecting a continued shift toward more prescriptive data governance obligations for financial institutions. The proposal, titled the GUARD Financial Data Act, is paired with the SECURE Data Act and is intended to establish a national framework for consumer data privacy while updating GLBA’s longstanding notice-and-opt-out regime.… Continue Reading

After attempting to amend its first-in-the-nation AI law for two years and three legislative sessions, on May 9, 2026, the Colorado legislature passed SB 26-189. It now awaits the governor’s signature and is expected to be signed into law, which will go into effect January 1, 2027.

SB 26-189 replaces the original law’s broad “high-risk artificial intelligence system” and “algorithmic discrimination” framework with a narrower regime focused on “automated decision-making technology” (ADMT) that processes personal data used to “materially influence” a “consequential decision.”… Continue Reading

Just when the conventional wisdom seemed to be that the CFPB was no longer going to assert that it could not request funding from the Federal Reserve because of combined losses at the Federal Reserve Banks, things have once again been thrown into a cocked hat. On May 11, 2026, the CFPB filed a notice of appeal to the U.S.… Continue Reading

On April 22, 2026, the House Energy & Commerce Committee released the “Securing and Establishing Consumer Uniform Rights and Enforcement over Data Act” (the “SECURE Data Act”). The SECURE Data Act seeks to establish a comprehensive federal framework for consumer privacy rights and the protection of personal data. Subject to certain exemptions, the SECURE Data Act applies to businesses subject to the FTC Act or common carriers subject to title II of the Communications Act of 1934 that either (a) collect and process personal data of more than 200,000 consumers annually and have an annual gross revenue of $25 million or more, or (b) collect and process personal data of 100,000 consumers annually and “derive[] 25 percent or more of the[ir] annual gross revenue .… Continue Reading

The U.S. Court of Appeals for the Seventh Circuit issued a highly significant order on May 8, 2026 in the closely watched litigation challenging the Illinois Interchange Fee Prohibition Act (“IFPA”), vacating the district court’s judgment and remanding the case for further proceedings in light of the OCC’s recently issued Interim Final Rule and preemption order.… Continue Reading