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New Law Curtails Use of “Infinite” Arbitration Clauses in Consumer Use Agreements
On October 6, 2025, Governor Newsom signed into law SB 82 titled, “Contracts: Consumer Goods and Services: Dispute Resolution Provisions.” The law targets prohibiting “infinite” arbitration clauses, which compel arbitration for unrelated future disputes or interactions with corporate affiliates.
FinCEN Issues SAR FAQs Clarifying Reporting Requirement
On October 9, 2025, FinCEN (jointly with the FRB, FDIC, NCUA and OCC) issued new frequently asked questions addressing financial institutions’ regulatory obligations to file a suspicious activity report (SAR) (“2025 FAQ”). The 2025 FAQ includes four new questions and answers from FinCEN addressing circumstances under which a financial institution would be expected to file a SAR for potential structuring-related activity and continuing reviews. The 2025 FAQ does not alter existing Bank Secrecy Act (BSA) regulatory requirements but is intended to help clarify when an institution might be expected to file a SAR in certain circumstances.
OCC and FDIC Issue Proposed Rule to Define Safety and Soundness
On October 7, 2025, the OCC and FDIC (collectively the “Agencies”) issued a proposed rule (the “Proposed Rule”) that if adopted would: (i) define the term “unsafe or unsound practice;” and (ii) revise the supervisory framework under which the Agencies may issue a matter requiring attention (MRA). 90 FR 48335.
Table of Contents
CONSUMER FINANCE
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New Law Curtails Use of “Infinite” Arbitration Clauses in Consumer Use Agreements
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CFPB Issues Interpretive Rule on States’ Regulation of Information Contained in Credit Reports, Including Medical Debt
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OCC’s Update to Fair Housing Lender Posters
BANKING OPERATIONS & FINTECH
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FinCEN Issues SAR FAQs Clarifying Reporting Requirement
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Congress Proposes Law to Increase CTR and SAR Reporting Thresholds
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Federal Reserve Governor Floats Making Federal Reserve Payment Services Available to Non-bank Companies
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Court Halts Implementation of Section 1033 Rule Until CFPB Issues New Rule
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New 1098-VLI Information Reporting: Transition Guidance and Penalty Relief
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New AB 831 Prohibits Banking Online Sweepstakes Casinos
CORPORATE GOVERNANCE
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OCC and FDIC Issue Proposed Rule to Define Safety and Soundness
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Regulators Issue Proposed Rules to Eliminate Reputation Risk from Supervisory Programs
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Fifth Circuit Holds that the Jarkesy Decision Does Not Apply to OCC Administrative Hearings
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Agencies Rescind Guidance on Principles for Climate-related Financial Risk Management
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Ninth Circuit Panel Holds that California’s Interest-on-escrow Law is Not Preempted
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OCC Updates Exam Policies to Reduce Burdens on Institutions
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OCC’s Updated Organizational Framework for Bank Supervision
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