State Attorneys General Sue Lender for Alleged “Bait-and-Switch” Scheme On March 16, 2026, a coalition of State Attorneys General (AGs) filed a lawsuit in the Southern District of New York against a New York-based lender and its affiliated entities for an alleged “bait-and-switch” scheme through which the AGs assert the lender charged customers “hundreds…
A federal district court in the Northern District of California has granted summary judgment to the plaintiffs in Rise Economy et al. v. Vought et al., permanently enjoining the Consumer Financial Protection Bureau (CFPB) from relying on a Department of Justice Office of Legal Counsel (OLC) opinion that sought to…
In January 2026, the Federal Deposit Insurance Corporation (FDIC) revised its digital-signage requirements, relaxing the guidelines that dictate where and how FDIC-insured labeling must appear online. According to the agency, the final rule is “intended to address implementation issues and sources of potential confusion” that emerged following the adoption of…
On December 23, 2025, the CFPB issued an advisory opinion affirming that “covered” earned wage access (EWA) services fall outside the definition of “credit” under TILA’s Regulation Z, and that optional expedited delivery fees and voluntary tips are not “finance charges” under TILA’s Regulation Z, withdrawing a Biden Administration July 2024 proposed…
The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion on December 23, 2025, that resolves significant regulatory uncertainty surrounding whether earned wage access (EWA) products and are “credit” for purposes of Regulation Z, the Truth in Lending Act’s (TILA) implementing regulation. The advisory opinion establishes four critical characteristics that…
On January 12, 2026, the CFPB and DOJ published a Federal Register Notice withdrawing Biden-era guidance concerning the consideration of immigration status when making credit decisions under ECOA. ECOA does not expressly prohibit consideration of immigration status. Under Regulation B, creditors may consider an applicant’s immigration status or status as…
Almost three years after New York’s “Foreclosure Abuse Prevention Act” (FAPA) changed how the six-year time clock applicable to mortgage actions starts and stops, the state’s highest court resolved a heavily litigated dispute, concluding that FAPA is, indeed, retroactive. On November 25, 2025, in two parallel cases, Article 13 LLC…
On November 17, 2025, the California Department of Financial Protection and Innovation (DFPI) announced that it had entered into consent order with a California-based lender to resolve allegations that the lender charged excessive interest and fees to its customers. According to the DFPI, after a regulatory examination, the DFPI found that the lender made multiple…
New York State recently enacted a law requiring companies doing business in New York to disclose when they use an algorithm based on an individual consumer’s personal data to set pricing for a good or service advertised or sold to that consumer. That practice, also known as “surveillance pricing,” enables…
In October 2025, the Bank Policy Institute (BPI) issued a series of letters opposing efforts by several digital asset and payment firms to secure federal banking charters from the Office of the Comptroller of the Currency (OCC). BPI raised concerns that these companies are seeking trust charters even though, in…
On October 27, 2025, the Office of the Comptroller of the Currency (OCC) announced that it is seeking public comment on its proposal to eliminate certain recovery planning guidelines applicable to insured national banks, federal savings associations, and federal branches of foreign banks with at least $100 billion in assets….
The Consumer Financial Protection Bureau (CFPB) issued an interpretive rule on October 20, 2025 stating that the Fair Credit Reporting Act (FCRA) preempts state measures barring medical debt in consumer credit reports. This reverses a Biden-era interpretation, issued in 2022 but withdrawn by the Trump administration in May 2025, which…
The Consumer Financial Protection Bureau (CFPB) has once again found itself at the center of an intense policy debate. Its August 2025 Advance Notice of Proposed Rulemaking (ANPR) on Personal Financial Data Rights — better known as the Open Banking Rule under Section 1033 of the Dodd-Frank Act — drew…
This year has seen a lot of activity in the cryptocurrency regulatory space, with several states amending existing statutes regulating money transmitters or instituting new regulatory mechanisms to address digital assets. For example, on June 27 Pennsylvania became the 27th state to regulate virtual currency and a few months later,…
FTC Settles with Amazon Over Enrollment and Cancellation Processes for Prime Memberships On September 25, 2025, the Federal Trade Commission announced it had reached a settlement with Amazon.com, Inc. and two company executives, resolving allegations that the company’s enrollment and cancellation processes for Amazon Prime subscription memberships violated Section 5(a) of the…
The Federal Communication Commission (FCC) has recently issued a final rule under the Telephone Consumer Protection Act (TCPA), which formally eliminates a prior rule which had required that a customer’s “prior written consent” to receive telemarketing “robocalls” be limited to receiving those calls from one specific seller. 47 CFR §…
On September 8, 2025, the Attorney General of the District of Columbia sued one of the country’s largest operators of Bitcoin Automated Teller Machines (BTMs) alleging that the company’s BTMs charged undisclosed fees and relied heavily on scams and fraud. The Attorney General accused the company of failing to implement adequate…
In August 2025, President Donald Trump issued an executive order broadly aimed at preventing banks from closing or restricting accounts due to a customer’s “political or religious beliefs,” a practice known as “debanking.” The order, titled “Guaranteeing Fair Banking for All Americans,” instructs federal banking regulators to revise supervisory practices,…
On August 19, 2025, the Federal Deposit Insurance Corporation (FDIC) Board of Directors published a Notice of Proposed Rulemaking to update regulations on how banks display the FDIC official digital sign and related non-deposit signage. The proposal aims to simplify signage requirements introduced in 2023, which mandated the use of…
The Consumer Financial Protection Bureau (CFPB) announced that it filed a complaint against a banking-as-a-service platform on August 21, 2025 in the U.S. Bankruptcy Court for the Central District of California, San Fernando Valley Division. The complaint alleges that the California-based company violated the Consumer Financial Protection Act by failing to maintain adequate records of…