Navigating Consumer Protection: The CFPB's Expanding Reach — Payments Pros – The Payments Law Podcast
Understanding Scope of Practice
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
Regulatory guidance from the Illinois Department of Financial and Professional Regulation (“IDFPR”) clarifies that med spas may be owned and operated by Advanced Practice Registered Nurses (“APRNs”), including those that...more
As institutions enter the 2026 SREP cycle, the ECB is signaling a shift from remediation to enforcement in respect of unresolved climate-risk deficiencies. Following several years of supervisory expectations, thematic...more
In today's rapidly changing financial landscape, a widening range of companies—spanning fintech, digital-asset infrastructure, payments, and even large retailers exploring consumer-facing financial offerings—are evaluating...more
The European Securities Markets Authority and the New Zealand Financial Markets Authority (FMA) have published a Memorandum of Understanding (MoU) establishing cooperation arrangements under the Benchmarks Regulation (BMR)....more
The European Central Bank (ECB) has announced it will conduct a geopolitical risk reverse stress test on 110 directly supervised banks in the Single Supervisory Mechanism in 2026. In a reverse stress test, a pre-defined...more
The European Central Bank (ECB) has contributed to the EU's ongoing simplification agenda by endorsing a series of recommendations for simplification of the EU prudential framework. A total of 17 recommendations were made by...more
FINRA lacks subpoena power. In lieu, Rule 8210 is the backbone of its self-regulatory framework. Failure to comply or providing incomplete or untruthful responses can lead to severe sanctions, including expulsion for firms...more
The U.S. Securities and Exchange Commission’s Division of Trading and Markets has finally answered a question that has hovered over independent broker-dealers for years: when can a registered representative’s own LLC or...more
The Consumer Financial Protection Bureau (“CFPB”), which has seen the scope of its activities, funding and staffing dramatically impacted since January of this year, has introduced a “Humility Pledge” that must be read at the...more
The Fed recently published its semiannual Supervision and Regulation Report on supervisory and regulatory actions, as well as current banking conditions. The report found that, in the first half of 2025, most banking...more
The Trump Administration is ordering all CFPB examiners to read a “Humility Pledge” to officials at supervised entities before conducting exams. In making the announcement, CFPB officials sharply criticized the Biden...more
The European Securities and Markets Authority (ESMA) has published a peer review report on the supervision of depositary obligations under the Undertakings for Collective Investment in Transferable Securities Directive...more
On November 21, the Consumer Financial Protection Bureau (CFPB or Bureau) notified staff that it will restart supervision and require examiners, beginning with the 2026 examination cycle, to open each review by reading to the...more
Earlier this week, the Federal Reserve Board (“FRB”) issued a press release on changes in supervisory approach consistent with Vice Chair of Supervision Michelle Bowman’s priorities, which she articulated in, among other...more
The Bank of England (BoE) has published its first annual report on the wholesale cash distribution market oversight regime, following its full operationalisation on 12 June under Part 5A of the Banking Act 2009, as introduced...more
This week, the U.S. Department of Justice (DOJ) notified the U.S. District Court for the District of Columbia and the D.C. Circuit in the matter of National Treasury Employees Union v. Vought that the Consumer Financial...more
On Oct. 6, 2025, the Office of the Comptroller of the Currency (OCC) issued five bulletins, which, taken together, represent significant and valuable regulatory relief for nationally chartered community banks and thrifts....more
On October 24, the Fed requested comments on a set of proposals aimed at increasing the transparency and public accountability of its annual supervisory stress tests for large banks. ...more
The NCUA has issued a Notice of Proposed Rulemaking to codify the elimination of reputational risk from its supervisory program, becoming the latest federal financial regulator to do so. ...more
On October 21, 2025, the National Credit Union Administration (NCUA) announced a proposed rule to formally remove “reputation risk” from its supervisory framework under the Federal Credit Union Act. The proposal would amend...more
As previously covered by InfoBytes, the NCUA announced last month that, effective immediately, reputation risk would no longer factor into its examinations and supervisory process. The agency is now attempting to codify its...more
The proposals align with Trump administration policy by emphasizing supervision of material and quantifiable financial risks....more
The UK government has announced that the Financial Conduct Authority (FCA) will assume sole responsibility for supervising anti-money laundering (AML) and counter-terrorist financing (CTF) for legal, accountancy and trust and...more
On October 7, the OCC and FDIC announced two joint notices of proposed rulemaking addressing unsafe and unsound practices and supervisory standards for banks and eliminating the role of reputation risk in regulatory actions....more
On October 6, the Office of the Comptroller of the Currency (OCC) announced a series of significant actions aimed at reducing the regulatory burden on community banks. These initiatives are part of the OCC’s ongoing efforts...more