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  Bank of America ordered to pay $540.3 million after misinterpreting deposit insurance rule Thursday, April 17, 2025 A federal court ordered Bank of America to pay nearly $540.3 million for underpaying for deposit insurance. The issue stemmed from a calculation error due to a misinterpretation of a 2011 rule enacted by the Federal Deposit Insurance Corp. The rule in question applies when calculating a federally-insured bank’s “counterparty exposure” level for the purpose of ensuring an institution’s safety and soundness. |
 Trump administration ousts two NCUA board membersThursday, April 17, 2025 The Trump administration fired the National Credit Union Administration (NCUA) Board’s two Democratic members. The decision leaves NCUA Chair Kyle Hauptman, a Republican, as the board’s only remaining member. |
 OCC plans to consolidate bank supervisory functions in restructureThursday, April 17, 2025 The Office of the Comptroller of the Currency announced an organizational restructure which entails the consolidation of its supervisory functions for large, midsize and community banks, among other changes. The announcement set off alarm bells in the community banking sector. |
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Lawmakers seek to overturn bank merger ruleThursday, April 17, 2025 Republican lawmakers in the House and Senate have introduced legislation to overturn a 2024 final rule updating the process the Office of the Comptroller of the Currency uses to review proposed bank mergers. |
FHFA director accuses NY AG of mortgage fraudThursday, April 17, 2025 Federal Housing Finance Agency Director Bill Pulte levied accusations of mortgage fraud against New York State Attorney General Letita James in a letter submitted to the Department of Justice.
 Court vacates CFPB credit card late fee ruleTuesday, April 15, 2025 A federal court vacated the Consumer Financial Protection Bureau’s final rule regulating credit card late fees, drawing praise from the financial services industry. The credit card late fee rule would have capped the safe harbor dollar amount for late fees at $8.
New Jersey AG issues enforcement action for lending discriminationTuesday, April 15, 2025 New Jersey Attorney General Matthew Platkin and the Division on Civil Rights issued a finding of probable cause against a same-day lender alleging the business refused to lend to prospective clients based on race, national origin and nationality.
CFPB will not prioritize nonbank registry rule enforcementTuesday, April 15, 2025 The Consumer Financial Protection Bureau announced it will not prioritize enforcement or supervisory actions pursuant to its regulation requiring nonbank financial institutions caught violating the law to register with the bureau.
Trades weigh in on budget resolution, tax policy proposalsTuesday, April 15, 2025 The House passed its budget resolution, setting the stage for Congress to begin its reconciliation process, which is expected to include discussions about extending the 2017 Tax Cuts and Jobs Act cuts while implementing additional cuts, reducing spending, and raising the debt ceiling.
 House nixes CFPB overdraft, larger participant rulesFriday, April 11, 2025 The U.S House passed two measures nullifying rules finalized by the Consumer Financial Protection Bureau under the Biden-Harris administration with strong support from Republicans. The resolutions of disapproval targeted the bureau’s rule capping overdraft fees and its larger participant rule, applying to large digital payment providers.
 GAO recommends agencies collaborate on national strategy to counter scamsFriday, April 11, 2025 The Government Accountability Office published a list of recommendations for how three federal agencies tasked with identifying and preventing scammers from harming consumers, companies and national security can better collaborate to accomplish certain shared objectives.
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