The Supreme Court yesterday took an important step toward resolving the growing uncertainty over the scope of National Bank Act preemption. In an order issued October 5, the Court invited the Solicitor General to file briefs expressing the views of
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Trump’s AI Accord: Can Voluntary Self-Regulation and Independent Audits Protect Against Frontier AI Risks?
On September 29, President Trump brought together many of the leading executives in artificial intelligence for a White House meeting focused on the risks associated with increasingly powerful “frontier” AI systems. The meeting produced a one-page document entitled the “
ICBA Sues OCC Over Crypto National Trust Bank Charters: A Significant Challenge to the OCC’s Chartering Authority
DOJ issues Corporate Enforcement Directive
Summary
On October 1, 2026, Assistant Attorney General Colin M. McDonald of the Department of Justice (DOJ) National Fraud Enforcement Division issued Directive 26-12 on corporate enforcement. The directive identifies four priority areas and instructs prosecutors to give “great weight”
Podcast Release: SpaceX’s Novel Shareholder Dispute-Resolution Bylaws Could Have Far-Reaching Implications
The SpaceX IPO generated enormous attention for obvious reasons. It was the largest IPO in history, and the company’s stock price initially surged after trading began. But an important legal development associated with the IPO has received considerably less attention:
Third District Court Rejects OLC’s Interpretation of CFPB Funding Statute
Judge Aiken Holds That “Combined Earnings” Means Federal Reserve Revenue, Not Profit
In a September 25, 2026, decision, Judge Ann Aiken of the U.S. District Court for the District of Oregon became the third federal district judge to reject the
Illinois Court Extends Preemption of IFPA to Federal Credit Unions
In an important September 22 decision, the U.S. District Court for the Northern District of Illinois expanded its prior rulings concerning the Illinois Interchange Fee Prohibition Act (“IFPA”) to federal credit unions. The court granted the Illinois Bankers Association’s
Rohit Chopra’s California Move: What Has He Done So Far—and What Does It Tell Us About His Agenda?
When Rohit Chopra left the Consumer Financial Protection Bureau earlier this year, there was considerable speculation about what he would do next. In May, Governor Gavin Newsom provided the answer: Chopra would become the inaugural Secretary of California’s newly created
FDIC Proposes Rule to Establish Parity Between State and National Banks in Applying Host-State Laws
The FDIC has proposed a rule interpreting Section 24(j) of the Federal Deposit Insurance Act, enacted as part of The Riegle-Neal Interstate Branching and Banking Efficiency Act of 1994, to provide parity between out-of-State state and national banks insofar as
Podcast Release: AI in Debt Collection: Opportunities, Risks, and the Importance of Data Governance
Artificial intelligence is rapidly transforming consumer financial services, and consumer debt collection is no exception. AI already is being used in a variety of first-party and third-party consumer debt collection activities, ranging from account scoring and communication strategies to payment-plan