All in Regulatory Update

Bowman on Revitalizing Bank Mortgage Lending

Adam Witmer
Regulatory Update

On February 16, 2026, Vice Chair for Supervision Michelle Bowman spoke at the American Bankers Association 2026 Conference for Community Bankers, where she talked about the significant migration of mortgage origination and servicing from banks to nonbanks and the regulatory factors that may be driving this shift. In her speech, Bowman highlighted a long-term contraction in bank participation in the mortgage market. 

FinCEN Issues Exceptive Relief to Streamline CDD Requirements

Adam Witmer
BSA, Regulatory Update

On February 13, 2026, FinCEN issued an order granting exceptive relief to covered financial institutions from certain requirements under FinCEN’s Customer Due Diligence Requirements for Financial Institutions rule. The order exempts covered financial institutions from the requirement to identify and verify the beneficial owners of a legal entity customer each time the customer opens a new account.

FHFA Repeals Fair Lending, Fair Housing, and Equitable Housing Finance Plans Regulations

Adam Witmer
Regulatory Update

On February 6, 2026, the Federal Housing Finance Agency (FHFA) issued a final rule to repeal the Fair Lending, Fair Housing, and Equitable Housing Finance Plans regulation (Part 1293). Part 1293 codified the FHFA’s fair housing and fair lending oversight of the regulated entities, the Enterprise Equitable Housing Finance Plan (EHFP) program, and requirements for the Enterprise to collect a borrower's language preference and housing counseling and homeownership education information.

Democrats Seek Court Action to Protect CFPB

Adam Witmer
Regulatory Update

On February 10, 2026, the ABA Banking Journal reported that almost 200 Democratic and independent members of Congress filed an amicus brief urging the courts to halt what they said was the Trump administration’s attempt to dismantle the CFPB. The lawmakers argue that the Trump administration’s actions are unconstitutional because only Congress has the authority to create and abolish government agencies.

FDIC Extends Comment Period on GENIUS Act Application Procedures for Payment Stablecoins

Adam Witmer
Regulatory Update

On February 6, 2026, the FDIC announced a 90-day extension to the comment period on the agency’s notice of proposed rulemaking (NPR) that would implement the application provisions under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) for FDIC-supervised state nonmember banks and state savings associations seeking to issue payment stablecoins through a subsidiary. 

VIDEO: CFPB's Nov 2025 Proposed Changes to the 1071 Rule

VIDEO: CFPB's Nov 2025 Proposed Changes to the 1071 Rule

Adam Witmer
Regulatory Update, Regulation B

In this Compliance Clip, Adam provides a high-level overview of the CFPB’s November 2025 proposed revisions to the Section 1071 small business data collection rule. While the proposal signals a significant shift from the March 2023 final rule, key details remain unsettled and could have meaningful implications for financial institutions. Watch the video as Adam briefly discusses what’s changing, what’s still uncertain, and why these proposed revisions deserve close attention.

Massachusetts AG Sues Bitcoin Depot For Facilitating Crypto Scams

Adam Witmer
Regulatory Update

On February 3, 2026, Massachusetts Attorney General Andrea Joy Campbell filed a lawsuit against cryptocurrency kiosk operator Bitcoin Depot Inc. and Bitcoin Depot Operating LLC for allegedly using misleading and deceptive sales tactics to overcharge consumers, knowingly facilitating crypto scams, refusing to issue refunds to scam victims, and deceiving investors about the level of scam activity on Bitcoin Depot kiosks.  

Load More