Comptroller of the Currency Joseph Gould is vowing that his agency will take a variety of steps to promote federal preemption, Law360 reported.
Speaking as part of a fireside chat at the Clearing House’s annual conference, Gould said that defending preemption will require rebuilding its political legitimacy, the news service reported.
Delivered in digestible, insightful bites, McGlinchey’s Litigation Byte is a monthly roundup of financial services decisions and cases nationwide that impact your business.
The Trump Administration has declined to respond to a Supreme Court petition by the two ousted Democratic NCUA board members who are asking for the court to consider their case.
“The Government hereby waives its right to file a response to the petition in this case, unless requested to do so by the Court,” Solicitor General D. John Sauer told the Supreme Court.
California recently signed into law Senate Bill No. 446, which amends its data breach notification law, Section 1798.82 of the Civil Code, to require covered companies to notify affected California residents within 30 calendar days of discovery of the data breach. The amendment takes effect January 1, 2026.
Auto finance fraud is taking a growing toll on lenders — costing the industry billions each year. While it occurs less often than fraud on credit cards or personal loans, each case carries a far greater financial impact, often resulting in large charge-offs that can significantly damage portfolio performance.
Recent research analyzing nearly 4.9 million loan originations across auto, credit card, and unsecured personal loans found that losses tied to fraudulent auto loans were especially severe.
.jpg)
.jpg)