On September 11, the Fed announced a written agreement entered by a bank holding company and its Connecticut state-chartered bank, with the Federal Reserve Bank of New York, and the State of Connecticut Department of Banking…
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/ Finance & Banking
On September 17, the DOJ announced its withdrawal from the 1995 Bank Merger Guidelines, stating the 2023 Merger Guidelines will be the only authoritative statement across all industries. This decision followed collaboration with…
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/ Finance & Banking, Mergers & Acquisitions
On September 17, the OCC approved a final rule amending its procedures for reviewing applications under the Bank Merger Act. The rule will aim to provide clearer guidelines for institutions regarding the OCC’s review process for…
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/ Finance & Banking, Mergers & Acquisitions
On September 13, the Fed, OCC and the FDIC (the agencies) released a notice extending the comment period of their request for information regarding bank-fintech arrangements by one month. The notice extends the original deadline…
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/ Finance & Banking, Science, Computers, & Technology
Generative AI is converging with every sector – and health care is no exception. With it, companies should keep up with the array of laws and regulations – existing and envisioned – that govern its use. Read on for highlights…
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/ Health, Privacy, Science, Computers, & Technology
AI tools, such as ChatGPT, have become a big part of modern life. They are also becoming more and more relevant in the workplace. The use of AI entails great opportunities, but also a few risks. So far, there is not much case…
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/ Labor & Employment Law, Science, Computers, & Technology
On September 9, CFPB Director Rohit Chopra spoke at the National Housing Conference on how a decrease in interest rates could impact mortgage refinancing. Chopra noted that over a fifth of all mortgages currently have interest…
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/ Consumer Protection, Finance & Banking, Real Estate - Residential
On September 5, the CFPB released its 2024 annual report on the FDCPA, which discussed several issues consumers face in debt collection and highlights practices in the collection of medical and rental debt. Medical debt…
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/ Consumer Protection, Finance & Banking
On September 5, the FTC published a letter to the CFPB on the Commission’s annual summary of debt collection activities in 2023. Addressed to CFPB Director Rohit Chopra, the report aimed to assist the Bureau in preparing its…
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/ Consumer Protection, Finance & Banking
On September 5, the U.S. Department of Transportation (DOT) initiated an inquiry into the rewards programs of the four largest U.S. airlines to investigate potential unfair, deceptive, or anticompetitive practices. Secretary of…
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/ Antitrust & Trade Regulation, Consumer Protection, Finance & Banking, Transportation
On September 9, the U.S. Department of Veterans Affairs (VA) released Circular 26-24-18 announcing the launch of the new Program Participant Management (PPM) system for lenders beginning October 7. The PPM system will replace…
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/ Finance & Banking
On September 4, the FDIC released its latest evaluations of state nonmember banks for compliance under the CRA. The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 requires public disclosure of evaluations…
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/ Finance & Banking
School district employees and officers must adhere to strict rules regarding any campaign spending and activities, especially in the context of promoting a school district bond measure. The use of public funds and resources for…
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/ Education Law, Elections & Politics
On September 5, the FFIEC announced the sunsetting of the Cybersecurity Assessment Tool (CAT) on August 31, 2025. The CAT, introduced in June 2015, was a voluntary tool designed to help financial institutions identify…
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/ Finance & Banking, Privacy, Science, Computers, & Technology
Recently, a Texas-based payday lender (the defendant) filed a motion to dismiss in the U.S. District Court for the Northern District of Dallas, challenging the legality of the CFPB’s funding structure. As previously covered by…
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/ Constitutional Law, Consumer Protection, Finance & Banking
