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Recent congressional debate over the proposed CLARITY Act has highlighted a pivotal issue in stablecoin regulation: whether stablecoin issuers, or the exchanges and other third parties that distribute their tokens, should be permitted to offer yield to stablecoin holders. On January 12, the Senate Banking Committee released an updated draft of the CLARITY Act including Section 404, a provision prohibiting digital asset service providers from paying any form of interest or yield “solely in connection with the holding of a payment stablecoin.” While the legislation seeks to establish clearer federal rules for digital asset markets, the treatment of stablecoin yield has emerged as a central point of contention.

Continue Reading CLARITY Act Proposed Ban on Stablecoin Yield Sparks Congressional Debate

On January 14, the NCUA issued a letter outlining its supervisory priorities and examination program updates for 2026. The letter emphasizes risk-focused supervision, continued reliance on defined-scope examinations for smaller institutions, and adherence to a “no regulation by enforcement” approach, while reaffirming that examiners will continue enforcing all applicable consumer protection and safety and soundness requirements.

Continue Reading NCUA Issues 2026 Supervisory Priorities Letter Emphasizing Safety, Soundness, and Risk-Focused Examinations

The Executive Order issued on January 20, 2026, titled “Stopping Wall Street From Competing with Main Street Homebuyers,” directs a coordinated federal response to limit the use of federally backed programs in facilitating the acquisition of single‑family homes by large institutional investors. Within 30 days of the Order, the Secretary of the Treasury—working in consultation with the Assistant to the President for Economic Policy—is required to develop formal definitions of both “large institutional investor” and “single‑family home” for purposes of implementation across federal agencies.

Continue Reading Executive Order Targeting Single Family Home Ownership

On December 10, 2025, the National Credit Union Administration announced a new Deregulation Project and issued the first package of proposed rules aimed at streamlining its regulatory framework for federally insured credit unions under the Federal Credit Union Act.

Continue Reading NCUA Launches Deregulation Project and Proposes Four Rules to Streamline Credit Union Regulations

In a significant decision for bank partnership arrangements, the United States Court of Appeals held that Colorado may apply its state interest rate caps to loans made by out-of-state banks under the Depository Institutions Deregulation and Monetary Control Act (DIDMCA). The ruling reversed an earlier district court decision holding Colorado could not do so.

Continue Reading Tenth Circuit Allows Colorado to Enforce its Interest Rate Caps on Out-of-State Banks

On October 28, the CFPB issued an interpretive rule under the Fair Credit Reporting Act (FCRA) declaring that federal law generally preempts state laws governing the content of consumer credit reports. The Bureau’s action, led by Acting Director Russell Vought, replaces and withdraws a July 2022 interpretive rule issued under the prior administration, which had concluded that the FCRA’s preemption provisions were limited in scope.

Continue Reading CFPB Issues Interpretive Rule Asserting Federal Preemption Over State Medical Debt Credit Reporting Laws

On October 21, 2025, the National Credit Union Administration (NCUA) announced a proposed rule to formally remove “reputation risk” from its supervisory framework under the Federal Credit Union Act. The proposal would amend Parts 702 and 791 of the NCUA’s regulations to prohibit the agency from taking adverse action against a federally insured credit union based on reputation risk.

Continue Reading NCUA Proposes Rule Prohibiting Use of Reputation Risk in Supervision

On September 8, 2025, the U.S. District Court for the Western District of Washington denied an earned wage access provider’s motion to dismiss a putative class action brought by a servicemember. The plaintiff alleged that the company’s cash advance product violated the Military Lending Act (MLA) and the Truth in Lending Act (TILA).

Continue Reading District Court Allows Class Action Claims Against EWA Provider to Proceed Under TILA and MLA

On September 5, the Homebuyers Privacy Protection Act (H.R. 2808) was signed into law. The law amends the Fair Credit Reporting Act to restrict the sale of consumer information generated when borrowers apply for residential mortgage loans.

Continue Reading Homebuyers Privacy Protection Act Signed Into Law, Restricting Trigger Leads

On September 4, the CFPB published its Spring 2025 Unified Agenda on the Office of Information and Regulatory Affair’s website. The agenda identifies 24 regulatory items across the final, proposed, and prerule stages, covering a wide range of consumer finance issues.

Continue Reading CFPB Releases Spring 2025 Agenda Signaling Deregulatory Shift