Legislation

Exec order: Treasury, FI regulators to eye BSA/AML, other rule changes to address ‘non-work authorized’ individuals

May 21, 2026 0

The Treasury Department and federal financial institution regulators are charged in a recent executive order to take action aimed at mitigating potential credit risks post by the “non-work authorized population.” “My Administration will not tolerate national security and public safety [...]
Fed moves forward on ‘payment account’ by issuing proposal; aims at ‘supporting innovation’

May 21, 2026 0

Clearing and settling of payments is the aim of a proposed “payment account” by the Federal Reserve, which would be used by legally eligible financial institutions, the agency said late Wednesday. According to the Fed, under the proposal (which is [...]
Trump order focuses on getting financial regulators to help boost fintechs

May 20, 2026 0

A new executive order directs federal financial regulators within 90 days to conduct reviews of their rules, processes and other mechanisms that could be updated to facilitate innovation and improve the competitiveness of financial products and services for fintech firms, [...]
Proposed changes to CAMELS aim to focus ratings on material risks; first big alterations in 30 years

May 20, 2026 0

A revised regulatory ratings system for banks and credit unions will be available for public comment for 90 days, the regulators said late Wednesday as the proposed new scheme was unveiled. The ratings regiment – used by all federal financial [...]
Fed’s Powell named chair pro tempore pending swearing-in of Warsh

May 18, 2026 0

Federal Reserve Board governors on Friday voted to name Jerome (“Jay”) Powell as chair pro tempore, a designation that the Fed said will continue until Kevin Warsh is sworn in as new chair. That swearing in will reportedly occur Friday [...]
NCUA proposal would set standards for credit unions issuing stablecoins

May 15, 2026 0

A proposed rule to sets standards for credit unions approved to act as permitted payment stablecoin issuers (PPSIs) under the GENIUS Act was issued Friday by the National Credit Union Administration (NCUA). The proposal supplements the agency’s January proposal dealing [...]
Rules finalized exempting national banks from state laws on escrow accounts, payments

May 15, 2026 0

Exempting national banks from state laws on real estate escrow accounts and payments is the aim of two final rules issued Friday by the national bank regulator. The Office of the Comptroller of the Currency (OCC) said the final rules [...]
FDIC updates Q&As about signage denoting deposit insurance coverage

May 15, 2026 0

Updated questions and answers about regulations governing signs notifying customers and the public of federal bank deposit insurance coverage at covered financial institutions have been published by the insurance agency, it said Friday. The Federal Deposit Insurance Corp. (FDIC) said [...]