On March 11, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) aimed at disrupting drug trafficking and money laundering along the southwestern border. The GTO significantly lowers the Currency Transaction Reports (CTR) threshold from $10,000 to $200 for money service businesses (MSBs) operating in 30 zip codes across

The Federal Communications Commission (FCC) has a new rule under the TCPA for revocation of consent for robocalls and text messages set to go into effect on April 11, 2025. This rule is designed to give consumers greater control over their ability to withdraw consent for marketing communications. Businesses that use text messaging and

On December 12, 2024, the Consumer Financial Protection Bureau (CFPB) announced its final rule, redefining overdraft fees as finance charges in order to limit overdraft fees. The final rule seeks to regulate how overdraft fees are charged and collected in an effort to save consumers money. The CFPB believes the new rule will save

On December 5, 2024, the Department of Justice (DOJ) and the Consumer Financial Protection Bureau (CFPB) issued a joint letter directed at financial service providers to reinforce the importance of interest rate protections under the Servicemembers Civil Relief Act (SCRA). The letter underscores the necessity of compliance with these protections while offering practical guidance to

On October 10, 2024, the financial services community was stunned by the $3.1 billion settlement between the federal government and TD Bank over Bank Secrecy Act (BSA) and anti-money laundering (AML) violations. TD Bank’s criminal guilty plea to conspiracy to launder hundreds of millions of dollars in drug cartel cash overshadowed a contemporaneous enforcement action

On Thursday, November 21, 2024, the Consumer Financial Protection Bureau (CFPB) published a final rule that will soon provide it with supervisory authority over large companies in the general-use digital consumer payment applications market. This rule will become effective 30 days after it is published in the Federal Register and will subject large participants in

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized its long-anticipated rule implementing Section 1033 of the Dodd-Frank Act. The 594-page final rule arrives nearly one year after the CFPB’s proposed rule, which received over 11,000 comments from industry participants concerning its implementation. The rule requires institutions that issue credit cards and hold