While tariff policy has captured headlines, four recent regulatory reform policy developments are nevertheless significant for the financial services industry. These developments are tied to increasing presidential control...more
4/16/2025
/ Administrative Procedure Act ,
Banks ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Executive Orders ,
Financial Institutions ,
Financial Regulatory Reform ,
Popular ,
Regulatory Reform ,
Repeal ,
Tariffs ,
Trump Administration ,
U.S. Treasury
Despite the tone and tint of recent headlines, President Trump's February 18, 2025, "Ensuring Accountability for All Agencies" Executive Order (the "Accountability EO") appears to be the latest in a long line of efforts to...more
2/24/2025
/ Administrative Procedure Act ,
Constitutional Challenges ,
Executive Orders ,
FDIC ,
Federal Reserve ,
Financial Regulatory Reform ,
OIRA ,
OMB ,
Popular ,
SCOTUS ,
Statutory Interpretation
On January 13, 2024, the U.S. Court of Appeals for the 3rd Circuit ruled on Coinbase's Petition for Review of the SEC's Order denying Coinbase's Petition for Rulemaking requesting that the Commission promulgate rules...more
1/29/2025
/ Administrative Procedure Act ,
CFTC ,
Coinbase ,
Constitutional Challenges ,
Cryptocurrency ,
Digital Assets ,
Due Process ,
Enforcement Actions ,
FCC ,
Popular ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
As we have previously noted, we expect that the second Trump Administration will be significantly more favorable to crypto than the Biden Administration, especially with the recent appointment of David Sacks as the...more
12/9/2024
/ Accounting Standards ,
Administrative Procedure Act ,
Anti-Money Laundering ,
Banking Sector ,
Confidential Supervisory Information ,
Cryptocurrency ,
Digital Assets ,
FDIC ,
Federal Reserve ,
Innovation ,
OCC ,
Operation Choke Point ,
Policies and Procedures ,
Reputational Injury ,
Risk Assessment ,
Transparency ,
Trump Administration
"The United States, with its history of welcoming innovators, has a large reserve of good will. In a country that ever aspires to improve with time, people are hopeful that bad policy approaches can change. This hope is not...more
The Announcement and Its Sources -
Last week, the vice chairman of the Federal Reserve Board, Michael S. Barr, gave prepared remarks at the Brookings Institution announcing a significant recalibration of the Fed's Basel...more
9/23/2024
/ Administrative Procedure Act ,
American Bankers Association ,
Capital Markets ,
Federal Reserve ,
Lending ,
Loper Bright Enterprises v Raimondo ,
Mortgages ,
Notice of Proposed Rulemaking (NOPR) ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Share Buybacks
One of the most fundamental activities of an insured depository institution (IDI) is taking and safekeeping customer deposits. However, a recent proposed rulemaking by the Federal Deposit Insurance Corporation (FDIC) poses...more
8/16/2024
/ Administrative Procedure Act ,
American Bankers Association ,
Brokered Deposits ,
Deposit Insurance ,
FDI Act ,
FDIC ,
Final Rules ,
Liquidity ,
Notice of Proposed Rulemaking (NOPR) ,
Proposed Rules ,
Reversal ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
A Historic Term for Administrative Law -
This month we wrote extensively on both the Loper Bright/Relentless decisions, which overturned the Chevron doctrine, and the Jarkesy decision, which dealt a significant blow to the...more