Nonbank Financial

The Senate passed the Republican-led tax and spending package, known as “One Big Beautiful Bill” by the narrowest of margins on July 1. Three Republicans broke party ranks to oppose the measure, resulting in a 50-50 split among voting members and Vice President J.D. Vance being called upon to cast the tie-breaking vote. Read on »

One of the key shifts in data privacy best practices is an emphasis on a concept known as “anonymization.” ICE Vice President of Loan Data Products Conrad Ficca spoke with Dodd Frank Update about the benefits of a new approach to data privacy and other key considerations for a technology provider entrusted with protecting sensitive personal identifying information (PII) from a dataset. Read on »

The Consumer Financial Protection Bureau asked a federal court to vacate the agency’s data privacy rule, implementing Sec. 1033 of the Dodd Frank Act. The bureau’s arguments against its own rule paralleled those expressed by its most ardent detractors. Read on »

The Federal Deposit Insurance Corp. released the results of its quarterly banking profile, summarizing financial data collected from 4,462 insured commercial banks and savings institutions for the first quarter. Read on »

The Consumer Financial Protection Bureau added to mounting criticism claiming it is more focused on serving the interests of big business than protecting consumers after the agency withdrew its notice of proposed rulemaking (NPRM), “Protecting Americans from Harmful Data Broker Practices (Regulation V).” Read on »

The state of New York is suing Capital One Financial Corp., alleging charges similar to those previously brought by the Consumer Financial Protection Bureau in a lawsuit the bureau later dropped. Capital One told Dodd Frank Update it plans to defend itself against the allegations. Read on »

The Consumer Financial Protection Bureau withdrew its notice of proposed rulemaking designed to prevent harmful information-sharing practices by data brokers. The bureau’s interim leadership determined the proposal did not align with the agency’s current policy interpretations or objectives. Read on »

The Consumer Financial Protection Bureau’s final rules limiting overdraft fees charged by certain financial institutions and another giving the bureau authority to supervise large digital payment providers have been invalidated via resolutions of disapproval signed by President Donald Trump. Read on »

Federal banking regulators have taken steps to improve clarity surrounding digital banking activities, including crypto-assets and digitalization. Find out about some of the latest regulatory moves in this respect and more in this roundup. Read on »

The Consumer Financial Protection Bureau moved for dismissal regarding multiple claims cited in a lawsuit challenging the legality of its final rule prohibiting medical debt information from being considered in credit decisions. Read on »