ABA: ABA & 52 State Bankers Associations Urge Congress to Close Stablecoin Interest Loophole
The American Bankers Association today joined 52 state bankers associations from across the country in sending a joint letter to Congress urging lawmakers to clarify and enforce the statutory prohibition on payment stablecoin issuers and affiliated platforms offering yield, rewards or interest to stablecoin holders — a core provision of the GENIUS Act — because of the…
FDIC: Board of Directors Approves Final Rule on Establishment and Relocation of Branches and Offices
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to streamline the processes for the establishment and relocation of domestic branches and main offices. The final rule is intended to improve the speed and certainty of, and reduce the regulatory burden associated with, branch and main office filings. The final…
FDIC: Proposal Approved to Establish GENIUS Act Application Procedures for FDIC-Supervised Institutions Seeking to Issue Payment Stablecoins
The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a notice of proposed rulemaking that would implement the application provisions under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The GENIUS Act allows insured depository institutions to issue payment stablecoins through a subsidiary and to engage in certain related activities. An…
Treasury: IRS & Treasury Release Final Rules on the Tribal General Welfare Exclusion Act and Entities Wholly Owned by Indian Tribal Governments
Today, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) announced at the meeting of the Treasury Tribal Advisory Committee (TTAC) two final pro-growth and deregulatory tax regulations that support the prosperity of Tribal businesses and families and recognize the sovereignty of Tribal governments. The first rule implements the Tribal General Welfare Exclusion Act…
Agencies Announce Dollar Thresholds for Applicability of Truth in Lending and Consumer Leasing Rules for Consumer Credit and Lease Transactions
The Federal Reserve Board and the Consumer Financial Protection Bureau today announced the dollar thresholds used to determine whether certain consumer credit and lease transactions in 2026 are subject to certain protections under Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing). By law, the agencies are required to adjust the thresholds annually based…
Agencies Announce Dollar Thresholds for Smaller Loan Exemption from Appraisal Requirements for Higher-Priced Mortgage Loans
The Consumer Financial Protection Bureau, the Federal Reserve Board, and the Office of the Comptroller of the Currency today announced that the 2026 threshold for higher-priced mortgage loans that are subject to special appraisal requirements will increase from $33,500 to $34,200. The threshold amount will be effective January 1, 2026, and is based on the…
CFPB: ANPR Issued to Define Larger Participants of the Automobile Financial Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the automobile financing market established by the Bureau’s Defining Larger Participants of the Automobile Financing Market and Defining Certain Automobile Leasing Activity as a Financial Product or…
CFPB: ANPR Issued to Define Larger Participants of the Consumer Debt Collection Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the consumer debt collection market established by the Bureau’s Defining Larger Participants of the Consumer Debt Collection Market Final Rule published on October 31, 2012 (Consumer Debt…
CFPB: ANPR Issued to Define Larger Participants of the International Money Transfer Market
The Consumer Financial Protection Bureau (CFPB) is seeking information to assist it in considering whether to propose a rule to amend the test to define larger participants in the international money transfer market established by the Bureau’s Defining Larger Participants of the International Money Transfer Market Final Rule published on September 9, 2014 (International Money…
CFPB: Rescission Proposed for Rule Requiring Registry of Nonbank Covered Persons Subject to Certain Agency and Court Orders
The Consumer Financial Protection Bureau (CFPB) is proposing to rescind its rule requiring certain types of nonbank covered persons subject to certain final public orders obtained or issued by a government agency in connection with the offering or provision of a consumer financial product or service to report the existence of the orders and related…