Banking & Finance Trending Topics

To help with your writing efforts, here’s what people are looking for in Banking & Finance Law online. Trending topics culled from JD Supra, search analytics, social media conversations, and other sources:

NYDFS, Block Inc. Reach $40M Settlement 

Consider writing about:

A $40 million settlement reached between the New York State Department of Financial Services and Block Inc. over the company’s “serious compliance deficiencies;” nature of the alleged deficiencies; any conclusions regarding conditions or systems that opened the door to those deficiencies; related financial entity obligations regarding money-laundering risks and other questionable or illegal activity; what to know about the role of an independent monitor as a result of a settlement with a regulator; additional practical takeaways regarding internal oversight, compliance requirements, whistleblowers, or dealing with regulators.

Related information:

https://www.nbcnews.com/business/business-news/cash-app-owner-block-pays-40-million-fine-new-york-serious-compliance-rcna200716

CFPB Developments Worth Noting 

Consider writing about:

Your choice of the latest developments involving the Consumer Financial Protection Bureau. Choose among CFPB pull-backs from Biden-era activities; shifts in direction or priorities; continuing litigation; or any surprises from the CFPB. Is a consistent game plan taking shape, or is the CFPB all over the place in its regulatory and enforcement activities these days? What should financial entities or consumers know about the current-day CFPB, and how can they best protect their interests in an ever-evolving landscape?

Stablecoins Get Renewed Attention 

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Recent noteworthy developments involving the crypto assets known as stablecoins; how stablecoins are defined; how they are currently regulated; how the U.S. Securities and Exchange Commission’s position on stablecoins has evolved; what to know about legislation in Congress regarding stablecoins.

Related information:

https://www.sec.gov/newsroom/speeches-statements/statement-stablecoins-040425

What the Financial Services Industry Should Be Watching for From the States 

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Whether state legislators or regulators are increasing their attention to financial services industry activities as the Trump administration seeks to turn the page on the Consumer Financial Protection Bureau; what the CFPB’s status is now; current or likely priorities on the part of state attorneys general and others as regards financial services and consumer protection; what else the industry should be aware of in terms of likely enforcement shifts from the federal to the state level, and related compliance or enforcement risks.

Related information:

https://www.npr.org/2025/03/28/nx-s1-5315118/cfpb-shuttering-trump-doge

Federal Regulators Change Their Position on Banks and Crypto 

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Federal regulators’ stance regarding banks’ involvement in cryptocurrency-related activities; how the positions taken by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency are shifting under the second Trump administration; risks and obligations that banks should consider before diving into crypto; crypto-related services or activities that are most likely to be first out of the gate.

Related information:

https://www.axios.com/2025/03/28/fdic-crypto-banking-guidance

https://www.axios.com/2025/03/07/trump-crypto-banks-occ

Earned Wage Access Developments Worth Noting 

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Trends involving earned wage access systems; what this type of financial service consists of; growth in these types of services; how earned wage access services are regulated, on either the federal or state level; how different states’ EWA legislation compares to each other; compliance challenges for the industry; consumer advocacy cautions about fees or other downsides for customers, and the prospects for regulatory scrutiny of EWA terms, customer rights and protections, or other industry practices.

What’s All This Talk About a Sovereign Wealth Fund? 

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Plans by the Trump administration to create a sovereign wealth fund; purpose of such funds; how they operate, and whom they benefit; how this one would likely be funded; how it would be approved, implemented, and overseen; potential downsides to a sovereign wealth fund, whether generally speaking or specifically within the context of the Trump administration’s priorities, leanings, and record.

Related information:

https://www.cnbc.com/2025/03/05/michael-grimes-expected-to-lead-new-us-sovereign-wealth-fund.html

How Might ‘Spence v. American Airlines’ Ruling Affect ESG Trends? 

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A Texas judge’s recent ESG-related ruling that American Airlines had violated its duty of loyalty under ERISA; actions that were found to constitute a breach of that duty; what else stands out to you about the outcome of this case; how likely the ruling in Spence v. American Airlines is to encourage ESG-related lawsuits against other companies; practical implications and related best practices for businesses navigating the still-fraught ESG landscape;

More Settlements Reached Between Robinhood and Regulators 

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Multimillion-dollar settlements that units of Robinhood Markets Inc. have reached this year with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority; alleged Robinhood lapses that led to the settlements; what other financial entities may be able to learn from these cases; related information about SEC and FINRA enforcement trends.

Related information:

https://finance.yahoo.com/news/robinhood-pay-26-million-settle-222709374.html

New Legal, Ethics Questions Emerge Over Treatment of CFPB Under Trump 2.0 

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New questions being raised over the Trump administration’s handling of the Consumer Financial Protection Bureau; concerns over possible conflicts of interest involving Elon Musk, his “Department” of Government Efficiency, and Musk’s own business interests; issues involving access to, and handling of, consumer or business data gathered over the years by the CFPB; potential for lawsuits over conflicts of interest, data security, trade secrets, or other matters related to the Trump administration’s treatment of the Bureau.

Related information:

https://www.cnbc.com/2025/02/25/democrat-senators-question-what-elon-musk-plans-to-do-with-cfpb-data.html

What’s Next for Showdown Over DOGE’s Access to Treasury Dept. Data? 

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Legal wrangling over the so-called Department of Government Efficiency’s access to sensitive Treasury Department information; type of information at issue; basis for, and status of, litigation contesting the access; potential for additional lawsuits, whether by consumers or others; what individuals who may be concerned about the security of their financial data or other personal information should, or could, be doing now to protect their interests and alleviate their fears.

Related information:

https://apnews.com/article/doge-treasury-privacy-cybersecurity-injunction-be7ba2d3c111b4c26015088eceb05d64

What’s Happening With the Consumer Financial Protection Bureau? 

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The current status of the Consumer Financial Protection Bureau; where its role, status, enforcement activities, powers, and future existence stand at this point; what Trump administration activities mean for CFPB actions taken under the Biden administration; who may fill the void left by the CFPB, and how the financial industry may need to adjust to the power shift among regulators.

KuCoin to Pay $297M Over Lack of Anti-Money Laundering Controls 

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Cryptocurrency exchange KuCoin’s agreement to pay almost $300 million in fines and forfeitures; actions and charges leading up to the settlement; a review of how deferred prosecution agreements work; practical takeaways for other crypto-related businesses; how crypto regulation and enforcement patterns are likely to change under the Trump administration.

Related information:

https://finance.yahoo.com/news/kucoin-pleads-guilty-crypto-case-210543219.html

Meet the New Treasury Secretary 

Consider writing about:

Scott Bessent, the new secretary of the U.S. Department of the Treasury; what to know about his background; key challenges facing Bessent in the short-term or longer-term; how Bessent’s role and status may differ from that of prior Treasury Department heads.

PayPal, New York Regulators Reach $2M Settlement Over 2022 Data Breach 

Consider writing about:

A $2 million settlement reached between PayPal and New York state regulators over the company’s cybersecurity lapses; what to know about cybersecurity requirements set by the New York Department of Financial Services, potential liability risks under the NYDFS regulations, and related enforcement trends; practical lessons to be drawn from the PayPal settlement.

Related information:

https://finance.yahoo.com/news/york-regulators-fine-paypal-2m-021851706.html

Trump Administration Takes Up Digital Asset Issues 

Consider writing about:

Early actions by the second Trump administration regarding digital assets. What stands out to you about the actions so far, in terms of Executive Orders, appointments, change in regulatory direction, and more? Who stands to gain or lose under the actions to date? What conclusions should the financial services industry draw from Trump 2.0 developments so far? And, hey, how about that Donald Trump memecoin?

Related information:

https://www.cnbc.com/2025/01/21/trumps-sec-launching-crypto-task-force-to-develop-clear-regulations-for-industry.html

https://www.nbcnews.com/business/markets/trump-bitcoin-digital-asset-stockpile-strategic-reserve-cryptocurrency-rcna188921

https://www.ft.com/content/e6a776da-bd32-41d4-b093-68df8850e448

https://www.theguardian.com/us-news/2025/jan/27/trump-meme-coin-cryptocurrency

Bank Secrecy Act Developments Worth Noting 

Consider writing about:

Enforcement trends involving the Bank Secrecy Act; key obligations under the BSA; noteworthy penalties, enforcement actions, or other significant BSA-related developments in recent months; key challenges facing financial institutions in complying with the BSA, and how they can maintain, or improve, their performance record on this front.

Related information:

https://www.bloomberg.com/news/articles/2025-01-15/bitmex-fined-100-million-for-violating-us-bank-secrecy-act

https://finance.yahoo.com/news/occ-issues-cease-desist-order-162006043.html

Practical Takeaways From CFTC Enforcement Report 

Consider writing about:

The Commodity Futures Trading Commission’s enforcement results for fiscal year 2024; how this period’s tally compares to prior years in terms of litigation, sanctions, or other actions or achievements; what lessons the regulated community may be able to draw from the CFTC enforcement report as regards the commission’s focus and potential areas of risk or need for improvement on businesses’ end.

Related information:

https://www.cftc.gov/PressRoom/PressReleases/9011-24

Record-Keeping Trends and Reminders 

Consider writing about:

Legal trends involving financial institutions’ record-keeping; noteworthy fines, penalties, settlements, enforcement actions, or other regulatory activity of note; what these events demonstrate regarding the risks of substandard record-keeping; how financial institutions can maintain, or improve, their compliance efforts as regards record-keeping requirements.

CFPB Report Shines Spotlight on Student Loan Violations 

Consider writing about:

A report released in December by the Consumer Financial Protection Bureau involving student loans; alleged violations described in the report; regulatory action that has been taken, or may be on the horizon, against alleged violators; how lenders can maintain proper control over their practices to keep them compliant with the law; what student loan recipients can do if they suspect their rights have been violated or that they have been wronged in some manner.

Related information:

https://www.consumerfinance.gov/about-us/newsroom/cfpb-uncovers-illegal-practices-across-student-loan-refinancing-servicing-and-debt-collection

https://files.consumerfinance.gov/f/documents/cfpb_supervisory-highlights-special-ed-student-lending-issue-36-winter_2024-12.pdf

What to Know About U.S. Treasury Department’s Outbound Investment Security Program 

Consider writing about:

Final regulations involving the U.S. Department of the Treasury’s Outbound Investment Security Program; types of investments. technologies, investors, and/or investment partners covered by the program; practical guidance on complying with the final regulations; their effective date; potential penalties for failure to comply.

Related information:

https://home.treasury.gov/news/press-releases/jy2690

https://home.treasury.gov/policy-issues/international/outbound-investment-program

Finance-Related Highlights From 2024: What Do You Say? 

Consider writing about:

Your choice of three or more noteworthy trends or developments from 2024 involving the finance sector; reasons for your choices; immediate or longer-term implications or potential impacts as we head into 2025; and any related practical guidance for those affected. Consider whether to go wide-angle in your choice of topics, or whether to focus on a particular country, region, entity, issue, trend (litigation, regulations, enforcement, etc.) or subset of the finance sector.

Implications of FTC Final Rule on Pricing Practices 

Consider writing about:

A final rule announced by the Federal Trade Commission on Dec. 17 regarding potentially misleading pricing practices in the live-event ticketing and short-term lodging industries; types of pricing mechanisms prohibited under the new rule; new rights or obligations that consumers or businesses should be aware of; the rule’s effective date.

Related information:

https://www.ftc.gov/news-events/news/press-releases/2024/12/federal-trade-commission-announces-bipartisan-rule-banning-junk-ticket-hotel-fees

What’s Next for Corporate Transparency Act and Reporting Obligations? 

Consider writing about:

The status of the Corporate Transparency Act in the wake of an injunction issued by a Texas court on Dec. 3; why the court issued the injunction; where the injunction leaves the Act’s current and potential future status; federal offices’ response to the injunction; reporting obligations that may or may not apply now, in view of the injunction; how affected entities should proceed at this point (perhaps depending partly on what they may have previously done, or not done, to comply with the Corporate Transparency Act); prospects for an alternative measure or replacement reporting regime of some kind taking the Corporate Transparency Act’s place.

Money Laundering Developments Worth Noting 

Consider writing about:

Your choice of recent or otherwise noteworthy developments (globally or in a specific region) regarding suspected money laundering; related enforcement actions, penalties, or other repercussions that have surfaced for individuals or financial entities in the hot seat; lessons the financial services industry should draw from these cases, as regards prevention, anti-money laundering controls, mitigation, self-disclosure, cooperation with authorities, or other points.

Know Your Memecoins 

Consider writing about:

Trends involving memecoins; what distinguishes these crypto assets from other types; how memecoins are regulated; lawsuits by investors or others over the launch or promotion of particular memecoins.

FinCEN Issues Alert Regarding Risks of AI-Enabled Fraud 

Consider writing about:

This month’s warning by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) regarding suspected fraud attempts that use generative AI tools and deepfakes to circumvent security controls; what financial institutions should be on the lookout for; what the Nov. 13 FinCEN alert illustrates regarding the evolving nature of financial fraud and associated challenges in combating it; related obligations on the part of financial institutions or their clients; best practices for individuals or businesses whose financial assets or personal information may be targeted by bad actors.

Related information:

https://www.fincen.gov/news/news-releases/fincen-issues-alert-fraud-schemes-involving-deepfake-media-targeting-financial

https://www.fincen.gov/sites/default/files/shared/FinCEN-Alert-DeepFakes-Alert508FINAL.pdf

Trump and Crypto: What to Know 

Consider writing about:

What Donald Trump’s return to the Oval Office could mean for the cryptocurrency sector; actions, proposals, or tea leaves worth knowing about or watching for; how a second Trump administration’s approach to crypto might compare to that of the Biden administration; potential roadblocks for crypto, even in the face of a potential surge in enthusiasm in high places; possible conflicts of interest stemming from involvement by Trump or members of his inner circle in crypto-related enterprises.

Related information:

https://www.cnn.com/2024/11/20/business/commerce-secretary-trump-crypto/index.html

https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house

What Do U.S. Election Results Portend for the CFPB? 

Consider writing about:

How the Consumer Financial Protection Bureau might fare under a second Trump administration, in terms of leadership, priorities, enforcement actions, rulemaking, powers, and perhaps its very existence; how soon the current director might be replaced and by what means; how the political landscape has shifted for the CFPB since Donald Trump’s first term in office; who might pick up the enforcement slack (on the federal or state level) if the CFPB is weakened over the next two to four years.