Bank Regulation news and trends

Court Battle Could Reshape Consumer Financial Data Landscape
Bank Regulation // February 12, 2025

The fight over the CFPB’s status and, in particular, the future of Open Banking Rule 1033 is on. A Washington, D.C.-based trade group, the Financial Technology Association (FTA), is seeking to intervene in a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final rule on personal...

Trump Names New CFPB Head Amid Regulatory ‘Limbo’
CFPB // February 12, 2025

President Trump has named a new CFPB director while the agency faces an uncertain future. Jonathan McKernan, who was until recently a director on the board of the Federal Deposit Insurance Corp. (FDIC), has been tapped by Trump to oversee the Consumer Financial Protection Bureau...

White House Weighs Folding FDIC Into Other Agencies
Regulation // February 12, 2025

The Trump administration is reportedly considering plans to shrink one of America’s banking regulation bodies. These talks propose folding the Federal Deposit Insurance Corp. (FDIC) into the Treasury Department, the Wall Street Journal reported late Tuesday (Feb. 11), citing sources familiar with the matter. In...

Banking Sector Vet Rodney Hood Named Acting OCC Head
Bank Regulation // February 09, 2025

One of America’s main financial regulators has a new acting director. Treasury Secretary Scott Bessent announced Friday (Feb. 7) his plans to appoint Rodney Hood to serve as the first deputy comptroller for the Office of the Comptroller of the Currency (OCC). In this position,...

Interviews & Exclusives
Court Battle Could Reshape Consumer Financial Data Landscape

February 12, 2025
The fight over the CFPB’s status and, in particular, the future of Open Banking Rule 1033 is on. A Washington, D.C.-based trade group, the Financial Technology Association (FTA), is seeking to intervene in a lawsuit challenging the Consumer Financial Protection Bureau’s (CFPB) final rule on personal financial data rights, commonly known as Rule 1033. The FTA’s […]

Capitol Hill Hearing Pushes for ‘Rational’ Community Banking Regulation

February 05, 2025
Beware the dangers of regulatory “overreach” and a one-size-fits-all approach to community banking oversight, several industry participants testified at a Capitol Hill hearing Wednesday (Feb. 5). The 119th Congress has...

CFPB’s Open Banking Standardization Push Faces Legal, Logistical Hurdles

January 09, 2025
The news this week that the Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body — to help determine how permissioned financial data will be...

Court Docs Show Regulator’s Crypto Freeze Was More Warning Than Ban

January 06, 2025
There has been a quiet uproar happening in the crypto space, and it’s not bitcoin’s surging price. Rather, it is the ongoing accusations by U.S. crypto exchange Coinbase, as well...

Quick Reads
Proposed Congressional Resolutions Aim to Overturn CFPB’s Overdraft Rule

February 13, 2025
Congressional Review Act (CRA) resolutions introduced Thursday (Feb. 13) in the U.S. House and Senate would overturn the Consumer Financial Protection Bureau’s (CFPB) final rule capping overdraft fees. The resolutions were introduced by House Financial Service Committee Chairman French Hill, R-Ark., and Senate Banking Committee Chairman Tim Scott, R-S.C., according to Thursday press releases. “The […]

Trump Names New CFPB Head Amid Regulatory ‘Limbo’

February 12, 2025
President Trump has named a new CFPB director while the agency faces an uncertain future. Jonathan McKernan, who was until recently a director on the board of the Federal Deposit...

White House Weighs Folding FDIC Into Other Agencies

February 12, 2025
The Trump administration is reportedly considering plans to shrink one of America’s banking regulation bodies. These talks propose folding the Federal Deposit Insurance Corp. (FDIC) into the Treasury Department, the...

Banking Sector Vet Rodney Hood Named Acting OCC Head

February 09, 2025
One of America’s main financial regulators has a new acting director. Treasury Secretary Scott Bessent announced Friday (Feb. 7) his plans to appoint Rodney Hood to serve as the first...