May 4
May 4 Federal Reserve Vice Chair Bowman Discusses AI Risk Management and Supervision in Banking

On May 1, 2026, Federal Reserve Vice Chairman Michelle W. Bowman, at a Financial Stability Oversight Council (FSOC) roundtable, discussed the increasing use of artificial intelligence (AI) in the banking industry and the need for balanced regulatory oversight. Bowman highlighted that AI is increasingly used in financial institutions for cybersecurity, operations, and customer services, providing major efficiency and security advantages.

Apr 30
Apr 30 CFPB Issues Revised 1071 Final Rule

Adam Witmer

Regulation B, Regulatory Update

On May 1, 2026, the CFPB has issued a revised final rule under Section 1071 of the Dodd-Frank Act. The Bureau stated that the revised rule is intended to improve data quality, reduce compliance burden, and minimize disruptions to small business lending markets.

Apr 29
Apr 29 FHA, Fannie Mac and Freddie Mac Implement New Credit Score Models

Adam Witmer

Regulatory Update

On April 22, 2026, HUD Secretary Scott Turner and FHFA Director William J. Pulte announced that the Federal Housing Administration, Fannie Mae, and Freddie Mac are implementing their first new credit score models for mortgages. According to the FHFA’s press release, the move is intended to lower costs for the American people after years of rising prices under the status quo credit score system.

Apr 28
Apr 28 Fannie Mae Issues Guidance for AI and Machine Learning Use in Mortgage Operations

Adam Witmer

Regulatory Update

On April 8, 2026, Fannie Mae issued Lender Letter (LL-2026-04), establishing a governance framework for the use of artificial intelligence (AI) and machine learning (ML) by Single-Family Seller/Servicers. The guidance reflects the growing role of AI/ML in mortgage origination and servicing, while emphasizing the need for responsible deployment aligned with legal, ethical, and risk management standards.

Apr 27
Apr 27 CFPB Issues Final Rule to Prohibit Disparate Impact Claims

Adam Witmer

Regulation B

On April 22, 2026, the CFPB issued a final rule amending Regulation B under the Equal Credit Opportunity Act (ECOA) to clarify its scope, eliminate certain liability theories, and update standards for special purpose credit programs. The final rule will become effective on July 21, 2026.

Apr 20
Apr 20 CFPB Submits Revised Section 1071 Rule to OMB for Review

Adam Witmer

Regulation B, Regulatory Update

On April 17, 2026, InfoBytes reported that the CFPB has submitted the a final rule titled “Small Business Lending Data Collection Under the Equal Credit Opportunity Act Reconsideration” (RIN 3170-AB40) to the OMB’s Office of Information and Regulatory Affairs for review under Executive Order 12866 (as amended).

Apr 20
Apr 20 OCC Issues Updated Model Risk Management Guidance

Adam Witmer

Regulatory Update

On April 17, 2026, the OCC, in coordination with the Federal Reserve System and the FDIC, issued updated model risk management guidance for OCC-supervised institutions. This is part of the OCC’s ongoing efforts to reduce unnecessary burden and promote risk-based examination across institutions of all sizes.

Apr 20
Apr 20 FinCEN Publishes Its 2025 Year in Review

Adam Witmer

BSA, Regulatory Update

FinCEN recently published its FinCEN Year in Review for FY 2025. The Year in Review is intended to help stakeholders gain insight into both FinCEN’s efforts to support law enforcement and national security agencies and how financial information is used.

Apr 20
Apr 20 FinCEN Amends Special Measure on Certain Fund Transmittals Involving CIBanco

Adam Witmer

BSA, Regulatory Update

On April 16, 2026, FinCEN issued an order amending its June 2025 order finding that CIBanco S.A., Institución de Banca Multiple (CIBanco), is a financial institution operating outside of the United States that is of primary money laundering concern in connection with illicit opioid trafficking and imposing a special measure prohibiting certain transmittals of funds involving CIBanco.

Apr 17

Apr 17 VIDEO: Reporting a SAR on a Director

Adam Witmer

BSA

In this Compliance Clip (video), Adam explores a challenging scenario involving Suspicious Activity Report (SAR) obligations when the subject of the report is a member of the board itself. Through a real-world example, Adam highlights the tension between regulatory reporting requirements and strict confidentiality rules. Adam also points toward key guidance on how institutions should navigate this sensitive situation without breaching compliance expectations.