John Broughel, a 2026 summer associate with Troutman Pepper Locke who is not admitted to practice law in any jurisdiction, also contributed to this article.
Key Points
John Norton, a 2026 summer associate with Troutman Pepper Locke who is not admitted to practice law in any jurisdiction, also contributed to this article.
Key Points
On May 22, the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a notice of proposed rulemaking to extend Bank Secrecy Act (BSA) and sanctions compliance standards to the permitted payment stablecoin issuers (PPSIs) it supervises under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (the GENIUS Act). These GENIUS Act BSA
On May 22, the Securities and Exchange Commission (SEC) announced a settled enforcement action against Foot Locker, Inc. for using separation agreements that required departing employees to waive their right to receive SEC whistleblower awards, in violation of Exchange Act Rule 21F-17(a). The case is noteworthy not only for its specific facts, but also because
James Stevens, partner and co-leader of Troutman Pepper Locke’s Financial Services Industry Group, was quoted in a recent S&P Global Market Intelligence article by Rica Dela Cruz, Lauren Seay, and Joe Mantone, “CAMELS overhaul could serve as a catalyst for US bank M&A.” The article discusses the Federal Financial Institutions Examination Council’s proposed revisions to
The Office of the Comptroller of the Currency (OCC) is reportedly moving to give community banks more time between examinations under the Community Reinvestment Act (CRA), the federal anti-redlining statute that shapes how banks serve low- and moderate-income communities. As reported by Bloomberg Law, based on a May 15 supervisory memorandum obtained by the
On May 20, the Federal Reserve Board issued a proposal (following a December 2025 Request for Information) to create a new, special-purpose “payment account” that eligible financial institutions could use solely to clear and settle payments. At the same time, the Board signaled that Federal Reserve Banks should temporarily pause decisions on certain master account
On April 7, the Federal Deposit Insurance Corporation (FDIC) Board approved its second notice of proposed rulemaking (NPRM) implementing the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). This second set of FDIC proposed regulations would establish prudential standards for FDIC-supervised permitted payment stablecoin issuers (PPSIs) and FDIC-supervised stablecoin custodians, and it
On May 12, we wrote about the U.S. Securities and Exchange Commission’s (SEC) longstanding “no‑deny” settlement policy heading “for a crossroads” at the Office of Management and Budget (OMB) and the Supreme Court. That crossroads arrived quickly. Just six days later, the SEC announced that it has rescinded Rule 202.5(e), the informal rule that, since
Yesterday, the Senate Banking, Housing, and Urban Affairs Committee held a hearing and voted 15–9 to advance H.R. 3633, the Digital Asset Market Clarity Act of 2025 (the CLARITY Act), sending the first comprehensive Senate crypto market structure bill to the floor.