Compliance & Legal Updates
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Regulators to Host Webinar on Fintechs

09/11/2024
On Tuesday, September 24, from 2:00-3:00 p.m. Eastern, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and Federal Deposit Insurance Corporation (FDIC) (the agencies) will conduct an Ask the Regulators webinar

Texas Court Rules in Favor of CFPB on 1071

08/28/2024
Yesterday, the United States District Court for the Southern District of Texas granted summary judgment in favor of the CFPB against the plaintiffs regarding their Administrative Procedures Act claims against the CFPB.

Federal Court Strike Down Non-Compete Ban

08/21/2024
Yesterday, the United States District Court for the Northern District of Texas struck down the Federal Trade Commission’s proposed ban on non-compete agreements.

CFPB Issues 1071 "Compliance Guide"

08/20/2024
"The 2025 filing instructions guide is a set of resources to help you file small business lending data with the Consumer Financial Protection Bureau (CFPB) in 2026 covering the period from July 18, 2025 to December 31, 2025. These resources are briefly described in this section and are further detailed throughout this web page in individual sections."

CFPB to Regulate Bank Chatbots and "Doom Loops"

08/16/2024
This week the Biden-Harris Administration launched its “New Effort to Crack Down on Everyday Headaches” which includes rulemaking from the CFPB related to banks and other financial institutions.

FDIC Issues Guidance to Assist Kentucky Areas Impacted by Disaster

08/02/2024
The FDIC has announced a series of steps intended to provide regulatory relief to financial institutions and facilitate recovery in areas of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides, and mudslides.

Breaking Down the Corporate Transparency Act

08/02/2024
We have received a lot of questions about the Corporate Transparency Act and how this will change filing requirements for many of small businesses.

Minor Settlement Accounts

07/30/2024
During the 2023 session, the Kentucky General Assembly enacted legislation allowing settlements with minors under $25,000 to be reached without a court order. This was done in part to maximize funds for the minor, increase judicial efficiency and to create an orderly process for these settlements.

CRA Meeting with FDIC Chicago in Louisville September 10th

07/30/2024
In light of recent changes to many of our banks’ CRA ratings from the FDIC, the FDIC is hosting an in-person meeting on September 10th, 2024 at 1:00 PM Eastern Standard Time at the FDIC offices located at 10200 Forrest Green Boulevard, Louisville, Kentucky 40223.