On September 15, 2026, the federal banking agencies published two proposals that would change how community banks assess risks associated with vendors, technology providers, and other outside firms. The Federal Reserve System (“Board”), the Office of the Comptroller of the Currency (“OCC”), the…
Artificial intelligence (AI) continues to attract significant regulatory attention. Yet, in the absence of comprehensive federal AI legislation and amid a growing patchwork of state requirements, many financial institutions remain uncertain about how regulators expect them to identify, manage, and…
On September 8, 2026, the U.S. Department of the Treasury and the Internal Revenue Service (“IRS”) published final regulations implementing the new deduction for qualified passenger vehicle loan interest and related lender reporting requirements. The regulations are particularly important for…
The Indiana Supreme Court has unanimously denied transfer in Haskins v. Financial Builders Federal Credit Union, No. 25A-PL-1810 (Ind. Ct. App. Apr. 20, 2026), leaving in place the Indiana Court of Appeals’ published decision holding that Indiana’s two-year statute of limitations for actions “upon…
The 21st Century ROAD to Housing Act (“Act”) became law on July 11 without President Donald Trump’s signature, after the President neither signed nor vetoed the legislation. The Act represents one of the most comprehensive federal housing packages enacted in recent years. Although much of the Act…
After years of regulatory uncertainty, litigation, and multiple deadline extensions, the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has permanently eliminated beneficial ownership information (BOI) reporting requirements for U.S. companies and U.S. persons…
Overview
This past July, Governor Whitmer of Michigan signed several bills which collectively increase the available tax credit awards for affordable housing development in the state of Michigan. For the 2027-year cycle, beginning January 1, 2027, the Michigan state housing development authority may…
The 21st Century ROAD to Housing Act (“Act”) became law on July 11 without President Donald Trump’s signature, after the President neither signed nor vetoed the legislation. The Act represents one of the most comprehensive federal housing packages enacted in recent years. Although much of the Act…
In Bank of New York Mellon v. Bartelstein, 2026 IL App (1st) 242136, the First District Appellate Court addressed a question that had become increasingly important in long-running Illinois foreclosure cases: what happens when a borrower argues that the statute of limitations on the underlying…
On May 14, 2026, Colorado Governor Jared Polis signed Senate Bill 26-189 into law, repealing and reenacting Part 17 of Article 1 of Title 6 of the Colorado Revised Statutes, which was originally adopted under Senate Bill 24-205 (the Colorado Artificial Intelligence Act, or “CAIA”). SB 26-189 is the…
This is a follow up to our April 20, 2026 client alert, “Latest Developments in Meta Pixel Class
Action Litigation Impacting Financial Institutions,” in which we reported that website-tracking
litigation against financial institutions had expanded geographically and diversified into…
On April 20, 2026, the Indiana Court of Appeals affirmed the dismissal of a putative class action challenging overdraft fees assessed by an Indiana credit union, ruling Indiana’s two-year statute of limitations on “[a]n action upon a deposit account” encompasses any cause of action premised on or…
