To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Digital Asset Regulation and The CLARITY Act of 2025
After years of uncertainty and regulation by enforcement, the U.S. may finally be moving toward a more comprehensive framework for the regulation of digital assets. On June 4, 2025, the House Committee on Financial Services held a hearing on American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework. The hearing followed Committee Chairman French Hill’s introduction of H.R. 3633 — the CLARITY Act of 2025 (the Act) — on May 30, 2025. The Committee is expected to continue its markup of the Act at its June 10, 2025, Full Committee Markup hearing.
Second Circuit Explains Reasonable Investigation Standard in Identity Theft Case Under FCRA
In a recent decision, the U.S. Court of Appeals for the Second Circuit clarified the expectations for furnishers when investigating consumer disputes under the Fair Credit Reporting Act (FCRA). In Suluki v. Credit One Bank, No. 23-721 (2d Cir. May 28, 2025), the Second Circuit emphasized that the FCRA requires furnishers to conduct reasonable, not perfect, investigations into disputed accounts. The opinion also cements the fact that summary judgment is possible — and appropriate — when a furnisher conducts a reasonable investigation of a credit dispute.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – June 3, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
Navigating Change: First 100 Days Under the Trump Administration
We are pleased to share with you our latest publication, “Navigating Change: First 100 Days under the Trump Administration,” authored by our Digital Assets + Blockchain team. This retrospective examines the pivotal developments in the digital assets industry during the initial phase of the Trump administration.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 28, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
The GENIUS Act Advances in the Senate
The U.S. Senate’s proposal to regulate stablecoins, known as the GENIUS Act, has successfully cleared a significant procedural hurdle, moving closer to a full floor debate. On May 19, lawmakers voted to invoke cloture on the bill, marking a pivotal moment in its legislative journey. This vote followed an earlier setback on May 8, when Democrats withdrew their support to engage in further negotiations.
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 20, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.
CFPB Withdraws Proposed FCRA Data Broker Rule
Today, the Consumer Financial Protection Bureau (CFPB or Bureau) filed its decision to withdraw the proposed rule titled “Protecting Americans from Harmful Data Broker Practices (Regulation V)” in the Federal Register. The rescission is scheduled to be published tomorrow. This withdrawal marks a significant shift in the Bureau’s approach to regulating data brokers and other updates to Regulation V under the Fair Credit Reporting Act (FCRA).
Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – May 12, 2025
To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week.