Deposit Account Litigation: Highlights From 2024 and What to Expect in 2025 — The Consumer Finance Podcast
On June 2, 2026, Professors Todd Zywicki and Thomas Miller, Jr., together with the Center for Individual Freedom, filed an amicus brief in support of the plaintiff trade associations in National Association of Industrial...more
The en banc proceedings in National Association of Industrial Bankers v. Weiser continue to attract significant attention. On June 4, 2026, the attorneys general of Utah and 20 other states filed an amicus brief urging the...more
The en banc Tenth Circuit continues to receive substantial support for affirming the district court’s decision in National Association of Industrial Bankers v. Weiser, the closely watched case addressing the scope of the...more
On June 4, 2026, the Office of the Comptroller of the Currency (OCC) filed an amicus brief in the en banc proceedings before the U.S. Court of Appeals for the Tenth Circuit in National Association of Industrial Bankers v....more
On June 4, 2026, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, America’s Credit Unions, and 52 state bankers associations filed a supplemental amicus brief supporting the plaintiffs in...more
The plaintiffs-appellees in National Association of Industrial Bankers v. Weiser have filed their supplemental en banc brief in the Tenth Circuit, urging the full court to reject the panel majority’s interpretation of Section...more
On March 19, 2026, the OCC, Federal Reserve, and FDIC proposed to modernize capital requirements by mandating ERBA for Category I–II organizations, eliminating advanced approaches, dropping the standardized approach for these...more
On May 13, the U.S. Court of Appeals for the 2nd Circuit affirmed the dismissal of all claims brought by a Puerto Rican offshore banking entity challenging the Federal Reserve Bank of New York’s termination of its master...more
On May 8, the Kansas City Fed released supplemental information regarding its decision to grant a request for a limited purpose account to a Wyoming-chartered special purpose depository institution (SPDI) for an initial term...more
On May 6, the NCUA published the eleventh round of its Deregulation Project , proposing to cut two rules the agency deems to be outdated and duplicative. Comments on both proposals are due July 6....more
Participating in the resolution of failing banks in the U.S. has presented a frustrating paradox for private equity and other nonbank corporate investors: attractive targets, but limited ability to act. The Federal Deposit...more
Oregon’s governor recently signed into law HB 4052, establishing a new tax credit for de novo banks chartered in the state effective June 5. The law defines a “de novo bank” as a depository institution under 12 U.S.C. 1813(c)...more
From July 11, EEA banking customers may notice that non-EEA banks and broker dealers (together, non-EEA banks) no longer generally market their banking services to them. EEA customers wanting to continue to acquire banking...more
On April 30, the Fed released an updated “Statement of Supervisory Operating Principles,” superseding the original statement issued in October 2025. The updated statement incorporates guidance on additional issues not...more
On May 1, the FDIC, Fed and OCC jointly issued updated host state loan-to-deposit ratios under Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (the Riegle-Neal Act). The ratios, which...more
On April 13, Virginia enacted Chapter 638 (S 301), amending the state’s garnishment statutes to establish new account-balance protections and automatic exemptions for certain benefit payments. The law requires financial...more
On April 24, the FDIC published a list of administrative and enforcement actions taken in March. The FDIC issued 22 orders, consisting of one consent order, seven orders terminating consent orders, two orders to pay civil...more
On April 9, 2026, the Federal Deposit Insurance Corporation (“FDIC”) issued a Notice of Proposed Rulemaking (the “FDIC Proposal”) to implement the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the...more
On April 7, the OCC and the FDIC announced they had jointly issued a final rule codifying the elimination of reputation risk from their supervisory programs. As previously covered by InfoBytes, the rule prohibits the agencies...more
The Tenth Circuit has granted rehearing en banc in National Association of Industrial Bankers v. Weiser, vacating its November 10, 2025, panel decision that had allowed Colorado to apply its Uniform Consumer Credit Code...more
The European Parliament has published a press release announcing that it has adopted the legislative package to reform the crisis management and deposit insurance (CMDI) framework for banks in the EU. The package includes...more
On March 19, 2026, the Federal Reserve Board ("FRB"), Office of the Comptroller of the Currency (“OCC”) and Federal Deposit Insurance Corporation (“FDIC”, collectively, the “Agencies”) released (i) a revised proposal for...more
Yesterday, the Tenth Circuit entered an Order which granted the Petition for Rehearing En Banc filed by the plaintiff bank trade associations in the Colorado opt-out litigation, National Ass’n of Industrial Bankers v. Weiser....more
On February 24, 2026, the Los Angeles County Superior Court issued a tentative decision granting summary judgment to the fintech Opportunity Financial LLC (OppFi) in its litigation with the California Department of Financial...more
On March 5, the FDIC issued its monthly list of state nonmember banks recently evaluated for compliance with the CRA. The CRA requires the FDIC to assess a bank’s record of meeting the credit needs of its entire community,...more