In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule.
“In light of recent events in the marketplace, the Bureau has now decided to initiate a new rulemaking to reconsider the Rule with a view to substantially revising it and providing a robust justification,” the administration said, in requesting a stay of a lawsuit filed by Forcht Bank and banking trade groups in the U.S. District Court for the Eastern District of Kentucky.
The California Privacy Protection Agency (CPPA) board unanimously voted on July 24, 2025 to finalize a package of regulations related to automated decision-making technology (ADMT), cybersecurity audits, and risk assessments. The long-awaited regulations establish additional requirements on certain businesses operating in California, and are now pending final review by the Office of Administrative Law.
The White House is preparing an executive order to crack down on banks accused of dropping customers due to their political or religious beliefs or ties to cryptocurrency, the Wall Street Journal reported Monday.
On July 23, President Trump announced efforts to position the U.S. at the forefront of the global artificial intelligence (AI) race. “Winning the AI Race: America’s AI Action Plan” details how the federal government will advance the AI industry and was issued pursuant to the president’s January 23 Executive Order (EO) 14179, “Removing Barriers to American Leadership in Artificial Intelligence.”
The National Credit Union Administration issued one consent-based prohibition order and two prohibition notices in July 2025. The individuals named below are permanently prohibited from participating in the affairs of any federally insured depository institution.
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