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A&O Shearman

FCA publishes final rules on data decommissioning

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The UK Financial Conduct Authority (FCA) has published final policy statement PS25/7, alongside an updated webpage, on data decommissioning. Following the FCA's consultation in April, it has proceeded with: - Removing the...more

Jenner & Block

Client Alert: OSHA’s Deregulatory Agenda Takes Shape

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On July 1, 2025, the Occupational Safety and Health Administration (OSHA) published twenty-five proposed rules and one final rule taking actions that include limiting OSHA’s application of the General Duty Clause, removing...more

Husch Blackwell LLP

CFPB Floats Rescission of NBR Rule

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The Consumer Financial Protection Bureau (CFPB) continues to redefine its priorities, and among the many policies targeted for change, the “Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders”...more

Morrison & Foerster LLP

U.S. SEC Extends Compliance Deadline for Recent Amendments to the Customer Protection Rule

On June 25, 2025, the U.S. Securities and Exchange Commission (SEC) voted to extend the compliance deadline for recent amendments to Exchange Act Rule 15c3-3 (the “Customer Protection Rule”) to June 30, 2026. The amendments,...more

Benesch

CMS Terminates KCF Model and Finalizes Significant Revisions to CKCC Participation and Payment Framework

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On May 28, 2025, the Centers for Medicare & Medicaid Services (“CMS”) Innovation Center formally announced the early termination of the Kidney Care First (“KCF”) model effective December 31, 2025, and issued a suite of...more

K&L Gates LLP

USPTO Discontinuing the Accelerated Examination Program for Utility Applications

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On 10 June 2025, the US Patent and Trademark Office (USPTO) published a Final Rule announcing the discontinuation of the Accelerated Examination program for utility applications beginning 10 July 2025. The change affects the...more

Orrick, Herrington & Sutcliffe LLP

CFPB rescinds procedural rule on rulemaking

On June 18, the CFPB published a final rule in the Federal Register rescinding a previous rule that specified how the agency issues rules and when those rules are considered issued. Effective June 18, the final rule rescinds...more

Ropes & Gray LLP

FCA Extends Investment Research Payment Optionality to Fund Managers

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Last month the Financial Conduct Authority (FCA) set out its final rules related to the application of investment research payment optionality to fund managers. This move follows its consultation paper late last year which...more

Orrick, Herrington & Sutcliffe LLP

CFPB indicates its Section 1033 rule should be set aside in filing

On May 23, the U.S. District Court for the Eastern District of Kentucky received a status report from the defendants, the CFPB and Russell Vought, stating that the Bureau has determined the Section 1033 rule to be unlawful...more

Sheppard Mullin Richter & Hampton LLP

CFPB Seeks to Vacate Open Banking Rule

On May 23, the CFPB notified a Kentucky federal court that it now considers its own 2023 open banking rule “unlawful” and plans to set the rule aside. The Bureau announced its intent to seek summary judgement against the...more

Holland & Knight LLP

CFPB Publishes Additional Proposals to Rescind "Unnecessary" Rules and Regulations

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The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more

Orrick, Herrington & Sutcliffe LLP

CFPB rescinds COVID-related protections under RESPA Regulation X

On May 16, the CFPB published a Federal Register notice withdrawing its COVID-19-era mortgage servicing protections for borrowers. The CFPB identified two reasons for rescinding this measure: first, the rule was intended to...more

Orrick, Herrington & Sutcliffe LLP

CFPB to rescind state requirement to notify Bureau on CFPA enforcement

On May 21, the CFPB published a notice in the Federal Register withdrawing its procedures that required state officials to notify the Bureau when taking action to enforce the CFPA. The direct final rule, effective July 21,...more

K&L Gates LLP

EPA Provides Update on PFAS Drinking Water Standards

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On 14 May 2025, Environmental Protection Agency (EPA) Administrator Lee Zeldin announced the agency’s plan to address the National Primary Drinking Water Regulations (NPDWR) for per- and polyfluoroalkyl substances (PFAS)...more

Woodruff Sawyer

​​​​​​Agencies Push Pause Button on Enforcement of MHPAEA 2024 Final Rule

Woodruff Sawyer on

On May 15, 2025, the Department of Labor, Department of Health and Human Services, and the Treasury Department (collectively, the “Agencies”) released a statement regarding the Agencies’ recent request for abeyance of a...more

GeoDataVision

The fatal flaws in the 2023 CRA rule

GeoDataVision on

In Podcast 95, Len and Dean argue that the 2023 CRA rule is flawed and confusing, urging its repeal and calling for reforms that truly support community development....more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 2025 # 3

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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

A&O Shearman

FCA policy statement on investment research payment optionality for fund managers

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The UK Financial Conduct Authority (FCA) has published a final policy statement (PS25/4), together with an updated webpage and press release, on final rules extending the new payment optionality for investment research to...more

Skadden, Arps, Slate, Meagher & Flom LLP

FCA Finalises Rules Providing Fund Managers a Joint Payment Option for Research and Execution Services

On 9 May 2025, the Financial Conduct Authority (FCA) issued policy statement PS 25/4, setting out, and bringing into force, final rules on investment research payment options for fund managers. The new rules follow the...more

Seyfarth Shaw LLP

Parity in Peril? Plan Sponsors Breathe Easier As Trump Administration Hits Pause on Enforcement of Mental Health Parity Final Rule

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On May 15, 2025 the Departments of Labor, Health and Human Services, and Treasury (the “Departments”) announced they will temporarily not enforce their new standards published under the mental health parity Final Rule last...more

Cadwalader, Wickersham & Taft LLP

Certainty and Uncertainty, May 2025 - Final UK Rules on Options for Fund Managers’ Payment for Investment Research

The UK’s Financial Conduct Authority ("FCA") has published its final Policy Statement on Investment research payment optionality for fund managers (PS25/4) (see here for our note on PS25/4’s preceding Consultation Paper). The...more

Sheppard Mullin Richter & Hampton LLP

President Trump Signs Resolution Nullifying CFPB Overdraft Fee Rule

On May 9, President Trump signed a Congressional Review Act resolution repealing the CFPB’s final rule restricting overdraft fees at large financial institutions. The rule, originally finalized under the Biden administration,...more

Morgan Lewis - ML Benefits

US District Court Grants Freeze on Mental Health Parity Enforcement

The US Departments of Health and Human Services, Labor, and the Treasury (together, the Departments) filed a motion to suspend the litigation proceedings in The ERISA Industry Committee vs. HHS et al. on May 9, 2025 while the...more

Troutman Pepper Locke

Price Transparency: Massachusetts Adopts New Consumer Protection Rules

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The Massachusetts attorney general’s (AG) office has finalized new consumer protection regulations aimed at eliminating hidden “junk fees” and improving price transparency. Set to take effect on September 2, the regulations...more

Brownstein Hyatt Farber Schreck

CFPB Changes Approach to Guidance

On May 12, 2025, the Consumer Financial Protection Bureau (CFPB) announced a sweeping withdrawal of 67 guidance documents issued since the CFPB’s inception, signaling a marked shift in its regulatory approach. This move...more

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