On July 21, 2025, FinCEN announced it intention to postpone the effective date of the final rule establishing Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (IA AML Rule). The action, according to FinCEN, is to ensure efficient regulation that appropriately balances costs and benefits.

Jul 17
Jul 17 FDIC Proposes Adjustments to Regulatory Thresholds for Inflation

Adam Witmer

Regulatory Update

On July 15, 2025, the FDIC issued a notice of proposed rulemaking that would update certain regulatory thresholds to reflect historical inflation, including those under 12 CFR part 363 related to annual independent audit and reporting requirements, and adjust those thresholds in the future based on a proposed indexing methodology. According to the FDIC’s press release, the proposal is the first of a multi-phase effort to reevaluate thresholds within the FDIC’s regulations.

Jul 16
Jul 16 Court Vacates Medical Debt Rule

Adam Witmer

Regulatory Update

On July 14, 2025, the ABA Banking Journal reported that a federal court in Texas vacated the CFPB’s medical debt reporting rule after the bureau’s current leadership joined with plaintiffs in asking it to be struck down. On January 7, 2025, the CFPB issued the final rule that bans the inclusion of medical bills on credit reports used by lenders and prohibits lenders from using medical information in their lending decisions.

Jul 16
Jul 16 OCC Removes References to Disparate Impact from the Comptroller’s Handbook

Adam Witmer

Regulatory Update, Fair Lending

On July 14, 2025, the OCC announced that it has removed references to supervising banks for disparate impact liability from the “Fair Lending” booklet of the Comptroller’s Handbook and has started removing references in other issuances. Concurrently, the OCC has instructed its examiners that they should no longer examine for disparate impact.

Jul 15
Jul 15 Agencies Release Joint Statement on Crypto-Asset Safekeeping Risks

Adam Witmer

Regulatory Update

On July 14, 2025, the OCC, the Federal Reserve Board, and the FDIC issued a joint statement in their continued efforts to provide clarity on banks’ engagement in crypto-asset-related activities. The joint statement, which focuses on safekeeping crypto-assets, discusses how existing laws, regulations, and risk-management principles apply to the activity and does not create any new supervisory expectations.

Jul 14
Jul 14 HUD and OMB Streamline Home Appraisal Process

Adam Witmer

Regulatory Update, Fair Lending

On July 10, 2025, the HUD and the OMB announced the termination of “burdensome” policies introduced under the Property Appraisal and Valuation Equity (PAVE) task force. The PAVE task force is an interagency group of 13 federal agencies formed during the Biden administration to address alleged discrimination in the appraisal process.

Jul 10
Jul 10 Treasury Extends Fentanyl Orders' Effective Dates

Adam Witmer

Regulatory Update, BSA

On July 9, 2025, FinCEN extended the effective dates for orders issued on June 25, 2025, prohibiting certain transmittal of funds involving three Mexico-based financial institutions. Covered financial institutions will now have an additional 45 days or until September 4, 2025 to implement the orders prohibiting certain transmittal of funds involving CIBanco S.A., Institution de Banca Multiple (CIBanco), Intercam Banco S.A., Institución de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector).

Jul 8
Jul 8 CFPB Terminates Consent Order Against Fay Servicing

Adam Witmer

Regulatory Update

On July 7, 2025, the Credit and Collection News reported that the CFPB has terminated its consent order against Fay Servicing over alleged illegal foreclosure practices. This cancellation releases Fay Servicing from any alleged noncompliance regarding a 2024 settlement agreement.

Jul 7
Jul 7 FDIC Consumer Compliance Supervisory Highlights Spring 2025

Adam Witmer

Regulatory Update

On July 3, 2025, the FDIC issued its Summer 2025 edition of the Consumer Compliance Supervisory Highlights. The purpose of this publication is to enhance transparency regarding the FDIC’s consumer compliance supervisory activities and to provide a high-level overview of consumer compliance issues identified in 2024 through the FDIC’s supervision of state non-member banks and thrifts.

Jul 7
Jul 7 CFPB Cancels $95 million Settlement with Navy Federal Credit Union

Adam Witmer

Regulatory Update

On July 1, 2025, the Reuters reported that the CFPB canceled a $95 million settlement with Navy Federal Credit Union, accused of illegally charging surprise overdraft fees. Navy Federal Credit Union is the largest credit union in the United States and serves active duty military members, veterans, Department of Defense civilian employees, and their families.

Jul 22
Jul 22 FinCEN Postpones the Implementation of the Investment Adviser Rule

Jul 17
Jul 17 FDIC Proposes Adjustments to Regulatory Thresholds for Inflation

Jul 16
Jul 16 Court Vacates Medical Debt Rule

Jul 16
Jul 16 OCC Removes References to Disparate Impact from the Comptroller’s Handbook

Jul 15
Jul 15 Agencies Release Joint Statement on Crypto-Asset Safekeeping Risks

Jul 14
Jul 14 HUD and OMB Streamline Home Appraisal Process

Jul 10
Jul 10 Treasury Extends Fentanyl Orders' Effective Dates

Jul 8
Jul 8 CFPB Terminates Consent Order Against Fay Servicing

Jul 7
Jul 7 FDIC Consumer Compliance Supervisory Highlights Spring 2025

Jul 7
Jul 7 CFPB Cancels $95 million Settlement with Navy Federal Credit Union

View all membership plans.