The Federal Deposit Insurance Corporation (FDIC) today issued its list of state nonmember banks recently evaluated for compliance with the Community Reinvestment Act (CRA). The list covers evaluation ratings that the FDIC assigned to institutions in March 2025.
A new Maryland law deems certain earned wage access (EWA) services to be loans. It then subjects those EWA services to the Maryland Consumer Loan Law and other consumer credit provisions, restricts the acceptance of tips by certain lenders, requires licensing or registration of certain entities offering EWA services, regulates EWA service agreements, and limits the costs and fees associated with obtaining EWA services. The law is effective October 1, 2025.
It’s Monday, June 2 and at this writing the ultimate fate of Rule 1033 — the so-called “open banking” rule set in motion last year by the Consumer Financial Protection Bureau (CFPB) — remains in limbo.
Kentucky remains ground zero for what happens. But the timeline could stretch out for a few more months.
The U.S. House of Representatives recently passed a sweeping federal budget bill that could significantly reduce funding for the Consumer Financial Protection Bureau (CFPB), marking a major shift in how the agency would be financed moving forward.
Nicknamed the “One Big Beautiful Bill Act,” the legislation proposes capping the CFPB’s annual funding at $249 million — a sharp reduction from the over $700 million it currently accesses from the Federal Reserve. The bill passed narrowly, 215-214, with support falling along party lines.
The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of May 1, 2025, through May 31, 2025.
Under the CRA, the OCC assesses an institution’s record of meeting the credit needs of its entire community, including low- and moderate-income neighborhoods, consistent with the safe and sound operation of such institution.
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