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 court decisions in the Ninth and First circuits, which challenged the OCC’s stance by finding
In the wild new world of TCPA litigation following the end of binding deference to the Federal Communications Commission (FCC), one of the more salient questions is whether the Do-Not-Call (DNC) Registry’s protections extend to the sending of text messages. Florida finds itself at ground zero for this debate after three different federal district courts
Two recent developments signal that momentum is building in Washington to recalibrate Bank Secrecy Act (BSA) reporting to produce higher‑value intelligence with less compliance friction. First, on October 9, 2025, the Financial Crimes Enforcement Network (FinCEN) and the federal banking regulators issued joint guidance in the form of Suspicious Activity Report (SAR) FAQs clarifying several
In its 2024 decision Cantero v. Bank v. America, N.A., the Supreme Court established the approach courts must follow in determining whether a state consumer financial law prevents or significantly interferes with the exercise of a national bank’s powers and is, therefore, preempted by the National Bank Act. In doing so, the Supreme Court
On September 22, 2025, California Gov. Gavin Newsom signed the Mortgage Forbearance Act into law, with an immediate effective date. The law, designed to provide emergency relief to California mortgage loan borrowers impacted by the various wildfires that occurred earlier in 2025, is in many ways reminiscent of the CARES Act forbearance framework from 2020.
Last month, in the unpublished opinion Olson v. Unison Agreement Corporation, the United States Court of Appeals for the Ninth Circuit found that a home equity investment (HEI) agreement met the definition of a reverse mortgage under Washington law and was not, as the company intended, a real estate option contract (2025 WL 2254522
On August 26, 2025, the Consumer Financial Protection Bureau (CFPB or the Bureau) published a proposed rule that would narrow its supervisory authority over nonbanks. Under the proposed rule, the CFPB plans to exercise oversight over nonbanks only in cases where there is a “high likelihood of significant harm to consumers.”
If finalized, the rule
On July 29, 2025, Sens. Ruben Gallego (D-AZ) and Jim Justice (R-WV) introduced the Keep Call Centers in America Act of 2025. The act targets the offshoring of call center operations, imposes new disclosure rules for customer service interactions, and ties federal funding eligibility to domestic operations. Oversight of foreign call centers is not a
The Supreme Court’s June 2025 decision in McLaughlin Chiropractic Associates v. McKesson Corp. has upended the long-settled framework for Telephone Consumer Protection Act (TCPA) compliance and litigation. As we discussed in our rundown of the decision, by holding that courts are no longer required to defer to FCC interpretations of the TCPA, McLaughlin invites
On June 20, 2025, the Supreme Court issued perhaps the most momentous decision in Telephone Consumer Protection Act history with McLaughlin Chiropractic Associates, Inc. v. McKesson Corp. This landmark ruling jettisons decades of established practice that bound district courts to follow the Federal Communications Commission (FCC) interpretations of the TCPA.
TCPA litigation has already been