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Executive Order Directs Agencies to Issue Guidance on Management of Potential Credit Risk in Lending to Undocumented Immigrants, and the CFPB’s Related Statement
On May 19, 2026, President Trump issued Executive Order 14406 (EO 14406) titled “Restoring Integrity to America’s Financial System.” 91 FR 30479. According to a press release accompanying the executive order, it is meant to “protect America’s financial system from illicit activity, strengthen customer identification requirements for financial institutions, and address the credit risks posed by extending financial services to non-work authorized illegal aliens.”
FDIC Notice of Proposed Rulemaking on Stablecoins and BSA Compliance
On May 22, 2026, the FDIC issued a notice of proposed rulemaking that would implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to FDIC-supervised permitted payment stablecoin issuers (PPSIs).
NCUA Announces Eleventh Round of Deregulation Proposals
The NCUA recently announced yet another round of proposed regulatory changes with the intention of further deregulating the industry. The NCUA previously announced 10 rounds of deregulation proposals beginning in December 2025 when it first publicized its “Deregulation Project,” an initiative to review the agency’s regulations to ensure they are focused on the safety, soundness, and resilience of credit unions.
Regulators Propose Changes to CAMELS Rating System
The Federal Financial Institutions Examination Council (FFIEC) issued a proposal to make changes to the Uniform Financial Institutions Rating System (UFIRS), commonly referred to as the CAMELS rating system. 91 FR 29128.
Table of Contents
CONSUMER FINANCE
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Executive Order Directs Agencies to Issue Guidance on Management of Potential Credit Risk in Lending to Undocumented Immigrants, and the CFPB’s Related Statement
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Lawsuit Filed Challenging CFPB Final Rule on Regulation B’s Treatment of Disparate Impact and Special Purpose Credit Program Standards
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Lawsuit Challenging New California Subordinate Mortgage Servicing Law is Dismissed
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Second Circuit Holds New York’s Interest-on-Escrow Law Preempted by National Bank Act; Appeal to Supreme Court Filed
BANKING OPERATIONS & FINTECH
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FDIC Notice of Proposed Rulemaking on Stablecoins and BSA Compliance
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Executive Order and Joint Advisory Concerning Unlawful Employment of Illegal Immigrants
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CISA and G7 Release AI Guidance on Software Bill of Materials
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Illinois Interchange Fee Law Put on Hold
CREDIT UNIONS
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NCUA Announces Eleventh Round of Deregulation Proposals
CORPORATE GOVERNANCE AND MANAGEMENT
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Regulators Propose Changes to CAMELS Rating System
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Federal Crypto Legislation Advances Out of Senate Committee
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SEC and CFTC Issue Joint Guidance on Application of Federal Securities Laws to Crypto
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