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Search OptionsFinancial ServicesThe 21st Century ROAD to Housing Act Becomes Law: What Credit Union Executives Should Know
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 Although much of the Act… Beneficial Ownership Reporting Requirements Repealed for U.S. Businesses
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… Michigan Housing Opportunity Tax Credit Updates
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… 21st Century ROAD to Housing Act Becomes Law: Eight Provisions Bank Executives Should Know
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… Krieg DeVault Financial Services Case Spotlight: IL Appellate Court Rejects “Mortgage Dies with the Note” Statute of Limitations Argument in Almost 20-Year-Old Foreclosure Action
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… Colorado SB 26-189 Overhauls Its Landmark AI Law
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… CIPA “Pen Register” Demand Letters Target Financial Institution Websites
This is a follow up to our April 20, 2026 client alert, “Latest Developments in Meta Pixel Class Indiana Court of Appeals Upholds Two-Year Statute of Limitations for Deposit Account Disputes — Including Challenges to Overdraft Fees
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… Latest Developments in Meta Pixel Class Action Litigation Impacting Financial Institutions
On January 13, 2025, we published a client alert in which we warned that the plaintiffs’ bar had begun adapting theories used in a wave of healthcare website-tracking class actions to target financial institutions, and highlighted a then-recent putative class action against a small Indiana-based… Illinois District Court Upholds Interchange Fee Restrictions
Banks and credit unions are preparing for the loss of interchange fees on Illinois debit and credit card transactions following the court’s decision in Illinois Bankers Association et al. v. Raoul, No. 24-7307 (N.D. Ill. Feb. 10, 2026), denying (in part) the industry’s request for a permanent… U.S. Treasury Releases AI Risk Management Tools for Financial Institutions
The U.S. Department of the Treasury has released two new artificial intelligence (“AI”) resources intended to help banks and other financial institutions adopt AI more securely and consistently: (1) an Artificial Intelligence Lexicon, and (2) a Financial Services AI Risk Management Framework (“FS… Wisconsin Introduces True Lender Legislation
On December 12, 2025, the Wisconsin legislature introduced a bipartisan measure (SB 759) that proposes significant amendments to Chapter 138 (Money and Rates of Interest) of the Wisconsin Statutes. SB 759 would implement a 36% annual percentage rate (APR) cap on nonbank consumer loans, codify “true… |
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