On April 11, North Dakota enacted HB 1127, overhauling its regulatory framework for financial institutions and nonbank financial service providers. The law amends multiple chapters of the North Dakota Century Code and creates...more
On April 7, the White House issued a fact sheet outlining new steps to support the responsible use and procurement of AI across federal agencies. The initiative builds on the Biden Administration’s 2023 Executive Order on AI...more
4/14/2025
/ Artificial Intelligence ,
Biden Administration ,
Executive Orders ,
Federal Acquisition Regulations (FAR) ,
Government Agencies ,
New Guidance ,
OMB ,
Regulatory Reform ,
Risk Management ,
Small Business ,
Technology Sector ,
Trump Administration
On March 20, the OCC announced that it will no longer treat reputation risk as a standalone category in its supervision of national banks and federal savings associations. The decision marks a dramatic shift in the agency’s...more
On February 20, the Virginia General Assembly passed the High-Risk Artificial Intelligence Developer and Deployer Act. If signed into law, Virginia would become the second state, after Colorado, to enact comprehensive...more
3/24/2025
/ Artificial Intelligence ,
Compliance ,
Consumer Protection Laws ,
Enforcement ,
New Legislation ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
State Attorneys General ,
State Legislatures ,
Technology Sector
On March 18, Acting Comptroller of the Currency Rodney Hood reiterated the OCC’s commitment to ensuring fair access to banking services, including for cryptocurrency firms. Speaking at a retail banking industry conference,...more
On September 4, the Federal Reserve Board (Fed) released enforcement actions against a Texas-based bank, addressing regulatory violations and compliance lapses.
The Fed, joined by the Texas Department of Banking (TDB),...more
On March 28, the Federal Reserve (Fed) issued a cease-and-desist order to a Wyoming-based bank holding company, citing deficiencies identified in a September 2023 inspection related to its “fintech business strategy, board...more
4/22/2024
/ Bank Holding Company ,
Banking Sector ,
Banks ,
Business Strategies ,
Cease and Desist Orders ,
Enforcement ,
Financial Services Industry ,
FinTech ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management
On January 30, a Tennessee-based community bank entered into a consent order with the Federal Deposit Insurance Corp. following the agency’s allegations that the Bank engaged in unsafe or unsound banking practices relating to...more
On January 12, South Dakota’s Division of Banking issued a mandate setting March 31, 2024 as the deadline for all South Dakota licensed money lenders and non-residential mortgage brokers to comply with their Bank Secrecy...more
2/19/2024
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
BSA/AML ,
CFTC ,
Compliance ,
FDIC ,
Final Rules ,
Financial Services Industry ,
FinCEN ,
FinTech ,
NCUA ,
Non-Depository Institutions ,
OCC ,
OTS ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Securities and Exchange Commission (SEC)