Jun 18
Jun 18 Agencies Propose Rule to Implement GENIUS Act Customer Identification Program Requirement

On June 18, 2026, FinCEN, together with the Federal Reserve, OCC, FDIC, and NCUA, issued a joint proposed rule to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The GENIUS Act requires permitted payment stablecoin issuers (PPSIs) to maintain an effective customer identification program (CIP).

Jun 18
Jun 18 CFPB Rescinds 2020 Advisory Opinion on SPCPs

Adam Witmer

Regulation B, Regulatory Update

On June 17, 2026, the CFPB rescinded an advisory opinion issued in December 2020 regarding Regulation B as it applies to certain aspects of special purpose credit programs (SPCPs) designed and implemented by for-profit organizations to meet special social needs. Specifically, the advisory opinion clarified the content that a for-profit organization must include in a written plan that establishes and administers an SPCP under Regulation B.

Jun 15
Jun 15 FinCEN Guidance on Information Sharing to Combat Fraud

Adam Witmer

BSA, Regulatory Update

On June 12, 2026, FinCEN released updated guidance to clarify how financial institutions can share information with each other about suspected fraud under section 314(b) of the USA PATRIOT Act. The guidance forms part of the Administration’s whole-of-government initiative to combat fraud and prevent criminals from taking advantage of individuals and businesses.

Jun 15
Jun 15 HUD Proposes Rule to Revise the Definition of “Manufactured Home”

Adam Witmer

Regulatory Update

On June 12, 2026, the HUD issued a proposed rule that would amend the definition of “manufactured home.” The changes will be reflected in its Manufactured Home Construction and Safety Standards, Model Manufactured Home Installation Standards, and Manufactured Home Installation Program.

Jun 11
Jun 11 Trump Nominates New CFPB Leader

Adam Witmer

Regulatory Update

On June 10, 2026, the ABA Banking Journal reported that President Trump nominated Brian Johnson to serve as the next director of the Consumer Financial Protection Bureau (CFPB) for a five-year term. Johnson currently serves as an executive at Capital One and previously held a leadership role at the CFPB during Trump's first administration.

Jun 9
Jun 9 CFPB Releases Statement on Ability To Repay and Immigration Status

Adam Witmer

Regulatory Update, Regulation Z

On June 8, 2026, the CFPB issued a statement to remind creditors of their obligations under the Truth in Lending Act (TILA) and consistent with President Trump's E.O. “Restoring Integrity to America's Financial System.” TILA and its implementing Regulation Z require creditors to assess consumers' ability to repay before offering mortgages and certain open-end credit products.

Jun 8
Jun 8 FinCEN Issues Advisory on Reporting Illicit Activity Related to Illegal Aliens

Adam Witmer

BSA, Regulatory Update

On June 5, 2026, FinCEN, jointly with the FDCI, OCC, and NCUA, issued an advisory to advise banks to be vigilant against fraud schemes and other suspicious or potentially criminal activities involving the unlawful employment of illegal aliens and the associated risks to the integrity of the U.S. financial system.

Jun 8
Jun 8 New York DFS Reminds Lenders of Fair Lending Obligations

Adam Witmer

Fair Lending, Regulatory Update

On April 22, 2026, the New York State Department of Financial Services (DFS) issued an industry letter reminding entities regulated under the New York Banking Law of their obligations under New York Executive Law Section 296-a, the state's fair lending law. DFS emphasized that it has the authority to enforce state fair lending laws and to impose penalties for violations of federal fair lending requirements.

Jun 3
Jun 3 Agencies Remove Additional References to Reputation Risk

Adam Witmer

Regulatory Update

On June 2, 2026, the FDIC, Federal Reserve Board, and OCC jointly updated several interagency documents to remove references to reputation risk. This complements earlier actions that ended the use of reputation risk in the agencies’ supervision.

Jun 3
Jun 3 CFPB Faces Lawsuit Over Changes to Fair Lending Enforcement

Adam Witmer

Regulatory Update, Fair Lending

On May 28, 2026, the ABA Banking Journal reported that a coalition of consumer groups and fair lending compliance firms has filed a lawsuit to prevent the CFPB from removing disparate impact as a prohibited practice from Regulation B, which implements the Equal Credit Opportunity Act (ECOA). The federal agencies recently removed disparate impact liability from their supervision and enforcement activities following an April 2025 executive order directing agencies to eliminate its use in all regulatory and enforcement contexts.