Legal | ABA Banking Journal https://bankingjournal.aba.com/category/legal/ Wed, 12 Aug 2026 20:20:09 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.10 State coalition seeks to block OCC preemption of interest-on-escrow laws https://bankingjournal.aba.com/2026/08/state-coalition-seeks-to-block-occ-preemption-of-interest-on-escrow-laws/ Wed, 12 Aug 2026 20:20:09 +0000 https://bankingjournal.aba.com/?p=67138 A coalition of 10 states has filed a lawsuit to block two recent rulemakings by the OCC designed to establish a uniform federal framework for national banks operating across state lines.

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]]> CFPB pauses planned workforce reduction https://bankingjournal.aba.com/2026/07/cfpb-pauses-planned-workforce-reduction/ Mon, 13 Jul 2026 17:49:18 +0000 https://bankingjournal.aba.com/?p=66542 The CFPB has temporarily halted plans to shrink its current workforce by more than half until a new bureau director is in place, according to a court filing.

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]]> Supreme Court rejects effort to fire Fed’s Cook, allows firings at other independent agencies https://bankingjournal.aba.com/2026/06/supreme-court-rejects-effort-to-fire-feds-cook-allows-firings-at-other-independent-agencies/ Mon, 29 Jun 2026 15:29:02 +0000 https://bankingjournal.aba.com/?p=66307 The U.S. Supreme Court ruled that Fed Governor Lisa Cook can remain on the Fed board while a lawsuit challenging her removal by President Trump plays out in the courts. However, the court also ruled that Trump could fire board members from other independent agencies, which could have implications for the makeup of the NCUA.

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]]> Court declines to consider request to cut CFPB workforce https://bankingjournal.aba.com/2026/06/court-declines-to-consider-request-to-cut-cfpb-workforce/ Mon, 22 Jun 2026 19:08:11 +0000 https://bankingjournal.aba.com/?p=66188 A federal appeals court has rejected a Trump administration request for permission to trim the CFPB’s workforce by more than half, instead sending the case back to a lower court.

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]]> ABA, associations: Appeals court should uphold Fed’s Reg II interchange fee standard https://bankingjournal.aba.com/2026/06/aba-associations-appeals-court-should-uphold-feds-reg-ii-interchange-fee-standard/ Tue, 09 Jun 2026 20:55:59 +0000 https://bankingjournal.aba.com/?p=66004 A federal appeals court should uphold a district court ruling and reject a retailer lawsuit seeking to overturn how the Federal Reserve calculates debit card interchange fees, as a decision in favor of retailers would result in substantial losses for card issuers with no real benefits for consumers, ABA and six associations said.

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]]> NCUA adopts rule to assert federal preemption over state interchange laws https://bankingjournal.aba.com/2026/06/ncua-adopts-rule-to-assert-federal-preemption-over-state-interchange-laws/ Mon, 08 Jun 2026 19:13:26 +0000 https://bankingjournal.aba.com/?p=65956 The NCUA is issuing an interim final rule to clarify the powers of federal credit unions to charge certain fees, much like the OCC recently did for national banks.

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]]> Court rules federal law preempts Illinois interchange law https://bankingjournal.aba.com/2026/06/court-rules-federal-law-preempts-illinois-interchange-law/ Tue, 02 Jun 2026 02:02:41 +0000 https://bankingjournal.aba.com/?p=65810 A federal court ruled that an Illinois law restricting the collection of interchange fees is preempted by federal law for national banks, federal savings associations, out-of-state state-chartered banks protected by federal law and payment card networks, reversing its prior conclusion.

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]]> Court vacates FinCEN residential real estate reporting rule https://bankingjournal.aba.com/2026/05/court-vacates-fincen-residential-real-estate-reporting-rule/ Thu, 28 May 2026 19:46:33 +0000 https://bankingjournal.aba.com/?p=65744 A federal court has vacated FinCEN’s new anti-money laundering reporting requirements for residential real estate transfers. As a result, reporting requirements are suspended while the agency appeals the decision.

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]]> ABA, plaintiffs ask court to quickly issue Illinois interchange fee decision on remand https://bankingjournal.aba.com/2026/05/aba-plaintiffs-ask-court-to-quickly-issue-illinois-interchange-fee-decision-on-remand/ Thu, 28 May 2026 17:33:56 +0000 https://bankingjournal.aba.com/?p=65731 ABA and other plaintiffs are asking a federal court to issue a decision by next week in a lawsuit seeking to overturn an Illinois law restricting interchange fees, citing the “drastic actions” banks and other financial institutions would need to consider if the law were to take effect as scheduled.

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]]> Consumer groups, vendors sue CFPB over changes to fair lending enforcement https://bankingjournal.aba.com/2026/05/consumer-groups-vendors-sue-cfpb-over-changes-to-fair-lending-enforcement/ Thu, 28 May 2026 17:05:36 +0000 https://bankingjournal.aba.com/?p=65728 A coalition of consumer groups and fair lending compliance firms has filed a lawsuit to prevent the CFPB from removing disparate impact as a prohibited practice from Regulation B, which implements the Equal Credit Opportunity Act.

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