CFPB Adopts Final Rule Extending Compliance Dates For The 1071 Rule

On Wednesday, July 15, CFPB Director Richard Cordray assured the Senate Banking, Housing and Urban Affairs Committee, as well as the public, that data collected by the CFPB could not be used to personally identify any consumer.

The final rule goes into effect on November 9, 2020.

In a registration filing with the SEC, an investment firm is seeking approval of a series of double-leveraged bullish and bearish exchange-traded funds ("ETFs") that each track the performance of a single U.S.-listed equity security.

Climate disclosure regulations are among the most significant and complex challenges faced by companies and boards, with a variety of requirements emanating this year from numerous governmental authorities...

The Chicago Mercantile Exchange has filed a lawsuit against the CFTC challenging its approval of Kalshi's bitcoin perpetual futures contract, arguing that perpetual contracts should be classified as swaps rather...

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.

The Securities and Exchange Commission has proposed six new pathways for individuals to qualify as accredited investors, moving beyond traditional income and wealth thresholds. These changes would allow qualification through professional certifications like CPA, CFA, and CFP designations, as well as through a new FINRA-administered exam testing securities knowledge.

The OCC and FDIC have jointly issued a final rule establishing the first binding regulatory definition of "unsafe or unsound practice" for banks, introducing a three-tiered supervisory framework...

U.S. employers and employees with nonimmigrant visa status should be aware of significant disruptions in the scheduling of H-1B and H-4 visa interviews at U.S. embassies and consulates around the world...

California has enacted the nation's most comprehensive data center legislation, fundamentally reshaping how electricity costs, grid upgrades, and energy reporting obligations are allocated. The new laws require data centers to bear full transmission upgrade costs, comply with clean energy procurement mandates, and submit detailed operational disclosures to state regulators.

The SEC has charged two offshore entities with orchestrating sophisticated investment confidence scams that defrauded over 2,000 retail investors of at least $15.3 million through fake AI-powered crypto trading platforms. Using WhatsApp group chats, impersonated investment professionals, and fabricated regulatory filings, the defendants created elaborate schemes that promised guaranteed returns while stealing investor funds through shell companies and blocking withdrawal attempts with demands for additional

Facilitating the use of modern manufacturing methods in the production of manufactured and other factory-built housing eligible for federal housing programs.

New York City's proposed POWER Act would create one of the most expansive municipal consumer-protection regimes in the country, introducing a sweeping private right of action that permits injured persons and nonprofit organizations to sue businesses for unfair, deceptive, abusive, or unlawful practices. The legislation has sparked intense debate between business groups warning of litigation exposure and consumer advocates arguing it fills critical enforcement gaps left by resource-constrained agencies. The

The Financial Crimes Enforcement Network has proposed revoking Banque Misr UAE's correspondent banking access to U.S. financial institutions, designating it as a financial institution of primary money laundering concern. This action stems from Treasury's Operation Economic Outcast, which aims to sever financial channels Iran uses to evade sanctions and fund terrorist activities through shadow banking networks.

The Ninth Circuit held that GitHub Copilot's AI-generated code did not violate DMCA's copyright management information (CMI) removal provisions, even when output resembled source code, because the system generated new works through probabilistic patterns rather than retrieving and stripping information from existing copies. This decision establishes a critical distinction between AI systems that learn and generate versus those that retrieve and reproduce, with significant implications for how courts evaluat

The Senate Banking Committee has advanced Brian Johnson's nomination to lead the Consumer Financial Protection Bureau in a party-line vote, setting the stage for a full Senate confirmation. With the Senate's pre-election recess looming and Mark Paoletta currently serving as Acting Director, the timing of Johnson's potential confirmation could determine whether the CFPB has Senate-confirmed leadership before the November midterm elections.

Ballard Spahr attorneys provide comprehensive updates on mortgage banking and consumer finance developments, including DIDMCA legislative efforts, website tracking litigation trends...

Colorado's Department of Law has released a revised draft of its Automated Decision-Making Technology and Conversational AI Service Rules, introducing significant changes to the state's AI regulatory framework. The updated rules address critical definitions around material influence and establish new standards for consumer rights, adverse outcomes, and reviewer qualifications. Organizations operating under the Colorado AI Act face important compliance considerations as the public hearing approaches.