On June 8, the New York Attorney General (OAG) announced a petition filed in the New York County Supreme Court, alleging that an online arbitration platform and its founders misrepresented the platform’s arbitration services as…
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/ Alternative Dispute Resolution (ADR), Commercial Law & Contracts, Consumer Protection
On June 9, NYDFS announced a proposed regulation to update New York’s U.S. dollar-backed stablecoin framework to conform to federal requirements for state frameworks under the GENIUS Act, which was enacted in July 2025…
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/ Administrative Law, Finance & Banking, Science, Computers, & Technology
On June 5, the U.S. Court of Appeals for the D.C. Circuit affirmed CFTC orders denying a foreign exchange trader’s application for a whistleblower award related to five successful enforcement actions against banks whose traders…
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/ Administrative Law, Finance & Banking
On June 12, the industry plaintiffs in the litigation challenging the Illinois Interchange Fee Prohibition Act (IFPA) moved the U.S. District Court for the Northern District of Illinois to reconsider in part its denial of…
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/ Administrative Law, Civil Procedure, Finance & Banking
On June 10, the OCC, Fed, FDIC, NCUA, CFPB, FHFA, CFTC, SEC and Treasury finalized joint data standards under the Financial Data Transparency Act of 2022 to make financial regulatory data more interoperable across agencies…
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/ Finance & Banking
On May 21, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions held a hearing titled “Modernizing the BSA for Financial Crime in the 21st Century” to examine…
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/ Finance & Banking, Privacy, Science, Computers, & Technology
In June, the Fed published its Supervision and Regulation Report, finding that the U.S. banking system maintained strong capital and liquidity levels, profitability, and healthy loan growth. The report states that more than 99…
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/ Finance & Banking
Why it matters A federal court has vacated IRS Notice 2025-42, potentially restoring the 5% safe harbor as a valid method for establishing beginning of construction before the July 4, 2026, deadline for wind and solar projects…
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/ Administrative Law, Energy & Utilities, Taxation
The EU Pay Transparency Directive (Directive (EU) 2023/970, the "Directive") took effect on June 6, 2023. Member states were required to transpose it by June 7, 2026. As discussed in our previous update, The EU Pay Transparency…
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/ International Law & Trade, Labor & Employment Law
On May 29, GAO released a report finding that Treasury had not addressed “gaps” in beneficial ownership information resulting from expanded Corporate Transparency Act (CTA) exemptions, even though Treasury must provide law…
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/ Business Organizations, Finance & Banking
On June 5, FinCEN, the FDIC, the OCC, and the NCUA, in coordination with the IRS, jointly issued an advisory urging financial institutions, particularly banks, to monitor for fraud schemes and other suspicious or potentially…
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/ Finance & Banking, Immigration Law, Taxation
On May 27, the Washington State Department of Financial Institutions (DFI) issued a consent order resolving a notice of noncompliance with prior consent orders stemming from allegations of unlicensed residential mortgage loan…
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/ Administrative Law, Finance & Banking, Real Estate - Residential
On June 5, the California attorney general (AG) announced a $4.6 million settlement resolving allegations that a mortgage servicer violated California and federal mortgage servicing and debt collection laws during the COVID-19…
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/ Consumer Protection, Finance & Banking, Real Estate - Residential
On June 4, the U.S. District Court for the Eastern District of Michigan granted preliminary approval of a $17.5 million proposed class action settlement in litigation arising from an alleged “data security incident” discovered…
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/ Consumer Protection, Privacy, Science, Computers, & Technology
On June 3, the CFTC announced that it rescinded its policy, codified in Appendix A to Part 10 of its rules of practice, under which the CFTC would not accept settlement offers in an administrative or civil proceeding where a…
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/ Administrative Law, Securities Law
