This past year, the False Claims Act (FCA) continued to be a key tool for the Justice Department and whistleblowers to bring suits against companies, including those in the financial services sector. With over $6.8 billion in FCA recoveries this
On February 13, 2026, the Financial Crimes Enforcement Network (FinCEN) issued a significant order (FIN-2026-R001) granting exceptive relief to covered financial institutions from the long-standing requirement to identify and verify the beneficial owners of legal entity customers at each new
On January 14, 2026, the U.S. Department of Housing and Urban Development (HUD) issued a proposed rule to “remove its discriminatory effects regulations and [leave] to courts questions related to interpretations of disparate impact liability under the Fair Housing Act.”
The U.S. Department of Housing and Urban Development (HUD) recently took concrete steps toward addressing industry concerns and uncertainty related to the Claims Without Conveyance of Title (CWCOT) foreclosure bidding process. Ultimately, mortgagees still must bid the Commissioner’s Adjusted Fair
Two recent guilty pleas by former TD Bank employees — Oscar Marcel Nunez-Flores and Wilfredo Aquino — are a timely reminder that insider-enabled money laundering can defeat control frameworks if banks do not actively design for, detect, and deter employee
In Florida’s 2026 legislative session, both chambers will consider bills that would impose strict requirements for caller identification on businesses. The bills target both telecommunications companies and the callers. While the legislation is presumably meant to target telephone scams and
New York has taken a significant step toward reshaping its consumer and market-protection framework with the enactment of the Fostering Affordability and Integrity through Reasonable (FAIR) Business Practices Act. The newly signed law amends Article 22-A of the General
Russ Vought’s CFPB has been busier over the past two weeks, but not because of increased enforcement or supervision efforts. Instead, recent actions indicate that the administration intends to keep Vought in the acting director position so he can shutter
On November 13, 2025, the Consumer Financial Protection Bureau (CFPB) released a Notice of Proposed Rulemaking (NPRM) amending Regulation B – the regulation implementing the Equal Credit Opportunity Act (ECOA). The proposed rule addresses three principal areas: (1) it clarifies
Speaking at the Clearing House’s annual conference, Comptroller of the Currency Jonathan Gould assured industry leaders that the agency remains steadfast in defending federal preemption under the National Bank Act. Gould’s comments come in the wake of recent federal appellate
