On November 6, 2026, the Financial Crimes Enforcement Network (FinCEN) issued an order designed to cut MEXC Global off from the U.S. financial system. The order prohibits covered U.S. financial institutions from sending funds to or receiving funds from the cryptocurrency exchange once it becomes effective. For banks, the immediate task is to translate that
On October 21, 2026, the OCC announced its final rule implementing the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. The rule sets requirements for permitted payment stablecoin issuers and foreign payment stablecoin issuers under the OCC’s jurisdiction, and for certain custody activities of OCC-supervised entities.(see www.occ.gov, News Release 2026-92).
The final
On October 15, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert to help financial institutions identify and report potential Iranian abuse of religious charity networks. That includes the diversion of religious tithes known as khums. The alert is designated FIN-2026-Alert008. It is the latest FinCEN product issued under Operation Economic Outcast, Treasury’s campaign against Iran and its financial enablers, including the Islamic Revolutionary Guard Corps (IRGC). On the same day, the Office of Foreign Assets Control (OFAC) designated an Iraqi bank that provides U.S. dollar access for Iran, two Iranian “offshore” banks, and several shadow banking exchange houses.
On September 10, 2026, the OCC, Federal Reserve Board, FDIC, and NCUA jointly proposed guidance that would rescind and fully replace the 2023 Interagency Guidance on Third-Party Relationships: Risk Management (88 FR 37920) and its three supplemental resources. Comments are due 60 days after Federal Register publication, submitted separately to each agency’s docket.
The headline
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 Business Law, expanding the scope of conduct prohibited under GBL § 349 and clarifying how
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 or even more substantially shrink the CFPB and the laws it enforces. But the CFPB’s
On September 8, 2025, the Office of the Comptroller of the Currency (OCC) released Bulletin 2025-22, announcing that the OCC will assess an entity’s debanking practices when considering licensing filings and applications and during Community Reinvestment Act (CRA) assessments. National banks and federal savings associations are now on notice that prior allegations of politicized
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
Late last year, we predicted that the Trump administration would bring federal action to target de-banking, and on August 7, 2025, President Trump signed a much-anticipated executive order to address the issue. Banks and credit unions should now expect to feel the impact early on in the form of horizontal reviews and inquiries from their
Starting July 1, 2025, Idaho will subject financial institutions with total assets over a certain threshold to new restrictions under the Transparency in Financial Services Act. The law follows a growing trend among states seeking to ensure fair access to banking and prevent financial denials based on political, religious, or ideological factors — often known