On January 22, the FDIC Board of Directors announced that it approved a final rule, issued in the Federal Register, to amend signage requirements for banks for their digital deposit channels and ATMs. In drafting this final...more
On January 22, 2026, the Federal Deposit Insurance Corporation (FDIC) issued a final rule to amend the signage requirements at 12 CFR 328.4 and 328.5 to provide insured depository institutions with greater flexibility in the...more
The FDIC has adopted a final rule intended to address concerns about the display of the FDIC official digital sign and non-deposit signage. “The rule simplifies requirements for banks’ display of the FDIC official digital...more
On January 13, the California DFPI entered a consent order with a digital financial asset kiosk operator to stop accepting transactions greater than $1,000 from a customer with the same name in a single day (in violation of...more
On January 16, after identifying repeated violations of the Digital Financial Assets Law (DFAL) and the California Consumer Financial Protection Law (CCFPL), the California DFPI entered a consent order requiring a digital...more
On January 13, the Maryland Office of Financial Regulation (OFR) promulgated new regulations governing virtual currency kiosks, following the enactment of SB 305, which requires all virtual currency kiosk operators and each...more
On October 30, the California DFPI announced a consent order with a digital asset kiosk operator, resolving findings that the company violated several provisions of the Digital Financial Assets Law (DFAL)....more
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more
On October 6, the California DFPI issued a cease and desist order against an ATM cryptoasset operator in California alleging multiple violations of the California Digital Financial Assets Law (DFAL). According to the DFPI,...more
On September 25, the association related to state bank supervisors, on behalf of the NMLS policy committee, requested public feedback on proposed new business activities and definitions related to digital assets. The proposal...more
Arizona AG Kris Mayes announced the enactment of a new cryptocurrency consumer protection law—the Cryptocurrency Kiosk License Fraud Prevention Act—aimed at safeguarding Arizonans, especially seniors, from crypto ATM scams....more
On September 26, Arizona’s attorney general announced that Arizona’s new cryptocurrency kiosk license fraud prevention law goes into effect that day, aiming to enact stronger protections against those vulnerable to...more
On September 18, the California DFPI ordered a digital financial asset kiosk operator to cease operations for violating the state’s Consumer Financial Protection Law and Digital Financial Assets Law by allegedly operating...more
On September 8, the District of Columbia through its Office of the Attorney General filed a complaint alleging violations of the district’s Consumer Protection Procedures Act, as well as the Abuse, Neglect, and Financial...more
On August 18, Governor Pritzker of Illinois announced he had signed two comprehensive pieces of consumer protection legislation: The Digital Assets and Consumer Protection Act, which will regulate digital asset companies; and...more
On August 19, the FDIC announced that its board approved a proposed rule to amend signage requirements for banks’ digital deposit channels and ATMs. The proposal aims to reduce implementation issues, reduce burden, and...more
On August 19, the FDIC Board unanimously approved issuance of a proposed rule that seeks to amend advertising disclosures and signage regarding deposit insurance. In 2023, the FDIC updated its rules regarding required...more
On June 25, the California Department of Financial Protection and Innovation (DFPI) entered a consent order with Coinme, Inc., a cryptocurrency “ATM” operator, for noncompliance with the California’s Consumer Financial...more
Recently, the Department of Financial Protection and Innovation (DFPI) in California issued a consent order against Coinme Inc., a company operating digital financial asset kiosks, commonly known as Bitcoin ATMs, across the...more
In a February 19 complaint filed in Arizona state court, Texas-based payment processer Switch Commerce LLC argued that multistate cannabis operator Trulieve Cannabis Corp. and its affiliates should be responsible for a...more
The topic of “junk fees” has been in the headlines, spurred by legislative action across various sectors. From regulations on credit card late fees to the Federal TICKET Act targeting concert event fees, lawmakers are...more
On November 21, the Supreme Court of Virginia entered a published order reversing a 14-3 en banc decision of the Court of Appeals of Virginia addressing the applicability of Virginia’s criminal laws regulating cybercrime. The...more
The Ohio Board of Tax Appeals held that certain financial authorization services, Debit Authorization as described below, are not taxable automatic data processing processing (“ADP) or electronic information services (“EIS”)....more