On April 22, 2026, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register a final rule amending Regulation B, the regulation implementing the Equal Credit Opportunity Act (ECOA). The final rule is largely unchanged from the CFPB’s notice of proposed rulemaking issued in November 2025. Effective July 21, 2026, the final rule: Expressly eliminates the “effects test,” commonly referred to as disparate impact. …
Agencies and FinCEN Propose Coordinated Changes to AML/CFT Program Requirements
Two separate – but closely coordinated – notices of proposed rulemaking (NPRMs) were published to amend the anti-money laundering and countering the financing of terrorism (AML/CFT) requirements for certain financial institutions. The Financial Crimes Enforcement Network (FinCEN) published a proposed rule emphasizing effectiveness and outcomes over technical compliance, along with a risk-based approach directing more attention and resources toward higher-risk customers and activities. The same …
FTC Issues New Advance Notice of Proposed Rulemaking on Negative Option Marketing
On March 11, 2026, the Federal Trade Commission (FTC) issued a request for public comment on an advance notice of proposed rulemaking (ANPRM) regarding its “Rule Concerning the Use of Prenotification Negative Option Plans,” more commonly known as the “Negative Option Rule.” The FTC is inviting consumers and industry members to share their experiences with negative option marketing to help it decide whether and how …
Executive Order Seeks to Expand Access to Mortgage Credit
On March 13, 2026, the White House issued an executive order that directs the Consumer Financial Protection Bureau (CFPB) and federal housing and banking agencies to consider a series of mortgage-related regulatory and supervisory changes, with a particular focus on community banks (generally under $30 billion in assets) and “smaller banks” (under $100 billion in assets). The order aims to “improve the availability and affordability …
OCC Proposes Rule Establishing Regulatory Framework for Issuing Stablecoins
The US Office of the Comptroller of the Currency (OCC) published its notice of proposed rulemaking (NPRM) to implement the provisions of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Enacted in July 2025, the GENIUS Act establishes a national regulatory framework for payment stablecoin issuance and related activities in the United States. The proposed rulemaking would apply only to permitted payment …
New York Leads the Way on Buy Now, Pay Later Regulation
New York has taken a significant step toward comprehensive regulation of buy now, pay later (BNPL) by requiring licensure and disclosures designed for credit cards, even though BNPL transactions are closed end. The New York Department of Financial Services (NYDFS) recently published proposed rules to implement legislation that establishes a licensing and supervision framework for entities that provide BNPL services. The first-of-its-kind legislation, signed by Gov. …
HUD Proposes Rule Limiting Public Housing for Mixed Immigration Status Families
On February 20, 2026, the Department of Housing and Urban Development (HUD) published a proposed rule that would limit federal housing assistance for families with mixed immigration statuses. The proposed rule would revise HUD’s regulations implementing Section 214 of the Housing and Community Development Act of 1980 (Section 214), which limits financial assistance provided through HUD’s public housing programs to US citizens and certain categories …
FHFA Repeals Fair Housing and Fair Lending Rule
On February 6, 2026, the Federal Housing Finance Agency (FHFA) published a final rule repealing its Fair Lending, Fair Housing, and Equitable Housing Finance Plans regulation (part 1293).[1] Adopted in May 2024, part 1293 codified the FHFA’s fair housing and fair lending oversight of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (together, the regulated entities). After publishing a notice of proposed rulemaking …
Navigating the Age Assurance Maze: FTC Signals Potential Guidance on Harmonizing COPPA With Robust Age Assurance Technologies
On January 28, the Federal Trade Commission (FTC) hosted a workshop on age assurance, where FTC leadership signaled new guidance may be forthcoming to clarify potential conflicts between age assurance efforts and federal law. At the workshop, titled, “Protecting American Children: A Workshop to Explore Age Verification Technologies,” FTC leadership acknowledged a tension between implementing age assurance technologies, which may be required to comply with …
Reports Suggest CFPB Plans Full Notice-and-Comment Rulemaking for Open Banking Rewrite
Reportedly, the Consumer Financial Protection Bureau (CFPB) now plans to pursue a notice‑and‑comment rulemaking process for its rewrite of the Biden‑era open banking rule, marking a shift from prior indications that the CFPB would issue an interim final rule. In December 2025, reports suggested that the Section 1033 open banking rulemaking might be advanced through an interim final rule ahead of the CFPB’s expected funding …