Articles
Insight
Presumption of Openness Still Unrealized 10 Years After FOIA Improvement Act
Oct. 26, 2026
A recent — and somewhat frustrating — experience with a FOIA request prompted us to take a closer look at how the Act is being implemented. As background, FOIA was enacted in 1966 to provide...
Analysis
Beyond Slaughter: OMB and Independent Federal Agencies
Aug. 12, 2026
Summary In Trump v. Slaughter, the U.S. Supreme Court made a profound change to the administrative state. The Court ruled that "for cause" removal protections for members of the Federal Trade...
Analysis
Disparate Impact: States Pick Up the Baton to Combat Housing Discrimination
Aug. 3, 2026
The Federal Government Backs Away From Disparate Impact In April 2025, President Trump issued an executive order (EO 14281) directing federal agencies to eliminate disparate-impact liability "to the...
Analysis
Recent Executive Orders Regarding Financial Services
May 20, 2026
On Tuesday, May 19th, President Trump issued two Executive Orders regarding financial services. The first, Integrating Financial Technology Innovation into Regulatory Frameworks, addresses the role...
Analysis
CFPB's Final Rule on Small Business Lending Data (Section 1071)
May 4, 2026
On May 1, 2026, the CFPB published its final rule implementing section 1071 of the Dodd-Frank Act, the small business lending data collection and reporting rule (Final Rule or Rule). The rule is...
Insight
OCC does not believe the GENIUS Act creates a new charter type
March 31, 2026
It seems the OCC does not believe the GENIUS Act creates a new charter type, contrary to speculation late last year. They would, however, be pleased to offer applicants charters they already have. In...
Insight
Unusual dissension in Fed vote on Reg W exemption
March 27, 2026
The drama around yesterday's Fed decision to grant Morgan Stanley a 23A exemption makes the exemption a tempting target for criticism. But a minor factual error in Governor Bowman's statement...
Analysis
CFPB Advisory Opinion on Earned Wage Access Under Regulation Z
Dec. 22, 2025
Set to be published in the Dec. 23rd Federal Register, the CFPB is issuing an advisory opinion (Advisory Opinion) to resolve “regulatory uncertainty” regarding the application of TILA/Reg Z to earned...
Analysis
Key Implications if the CFPB Is No Longer Operational
Dec. 2, 2025
In a pending case brought by the union representing CFPB employees, the Administration has informed the court that CFPB will run out of funding early next year and that the Administration will not...
Insight
Why nobody likes Vullo v. OCC
Oct. 24, 2025
Nobody likes Vullo v. OCC, New York's challenge to the nondepository national fintech charter half a decade ago. For most people in the industry, the case stands for the idea that the OCC can’t...