Regulatory Updates

A federal judge issued a preliminary injunction against the Consumer Financial Protection Bureau and Trump administration officials, ruling that recent staff cuts and other actions were part of an unlawful attempt to eliminate the CFPB, as argued by the union representing agency employees.

A state senate bill to modernize North Dakota’s insurance oversight laws has been enacted, requiring insurance producers in the state to maintain email accounts specifically for regulatory purposes, among other provisions.

The U.S. Treasury’s Financial Crimes Enforcement Network has clarified the goals, scope and compliance guidance for its recent geographic targeting order, which was intended to combat money laundering along the Southwestern border.

Following a shake-up to Freddie Mac’s board of directors, the government-sponsored entity’s CEO and human resources director have both been reportedly fired by Federal Housing Finance Agency Director Bill Pulte.

Following an earlier announcement on beneficial ownership information (BOI) reporting requirements for U.S. companies and individuals, the Treasury’s Financial Crimes Enforcement Network has officially ended the enforcement of BOI reporting requirements for domestic entities.

In response to the U.S. Treasury’s announcement that the Corporate Transparency Act would not be applied domestically, U.S. Sens. Sheldon Whitehouse and Chuck Grassley are seeking answers.

The U.S. Treasury’s Financial Crimes Enforcement Network has issued a geographic targeting order for money services businesses across two states to address cartel-related money laundering and other illicit activities along the southwestern border.

A new Federal Trade Commission task force will work to combat deceptive and unfair labor market practices, including no-poach, non-solicitation or no-hire agreements and noncompete agreements.

During his confirmation to run the Federal Housing Finance Agency, Bill Pulte fielded questions about his plans for achieving his top priority, “to strengthen and safeguard the housing finance system,” as well the potential end to the long-running conservatorship of the government-sponsored enterprises.