The U.S. Department of Justice (DOJ) has filed a motion with a federal district court to terminate early the September 2022 consent order with Lakeland Bank (Lakeland) that settled allegations of redlining under the Fair Housing Act and Equal Credit Opportunity Act. The motion also seeks the dismissal with prejudice of the case that the
Court Declines to Allow CFPB to Vacate Townstone Settlement
On June 12, 2025, Judge Valderrama of the federal district court for the Northern District of Illinois denied the joint motion to vacate the stipulated final judgment reached between the Consumer Financial Protection Bureau (“CFPB”) and Townstone Financial, Inc., in an action alleging violations of the Equal Credit Opportunity Act (“ECOA”).
As explained in Mayer
Court Denies CFPB/Townstone Bid to Undo Consent Order
As previously reported, in March 2025 the CFPB and Townstone Financial (Townstone) filed a joint motion with a U.S. District Court seeking to reverse the November 2024 consent order between the parties that resolved CFPB allegations of redlining on the part of Townstone in violation of the Equal Credit Opportunity Act (ECOA). The court
SEC Staff Clarifies That Certain Protocol Staking Activities Do Not Implicate the Registration Requirements of the US Federal Securities Laws
The Staff clarifies that protocol staking does not qualify as a security under the Howey Test, clearing the way for market participants to engage in staking.
By Jenny Cieplak, Zachary Fallon, Yvette D. Valdez, Stephen P. Wink, Naim Culhaci, Adam Bruce Fovent, Donald Thompson, and Deric Behar
On May
The Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025
On 12 June 2025, the Payment Services and Payment Accounts (Contract Termination) (Amendment) Regulations 2025 were made together with an explanatory memorandum.
These Regulations amend regulation 51 of the Payment Services Regulations 2017 to impose new requirements on payment service providers (PSPs) in relation to the termination of framework contracts for payment services concluded
Council approves decision to maintain certain bank liquidity rules
On 13 June 2025, the Council of the EU issued a press release which stated that it had adopted targeted changes to EU liquidity rules for the banking sector.
Changes
The changes, set out in a draft Regulation amending the Capital Requirements Regulation (CRR) as regards requirements for securities financing transactions under the net stable
Lords’ Committee report – Growing pains: clarity and culture change required
On 13 June 2025, the House of Lords’ Financial Services Regulation Committee (the Committee) issued a report, Growing pains: clarity and culture change required – An examination of the secondary international competitiveness and growth objective.
Background
The Committee’s inquiry examined the progress made in driving the Prudential Regulation Authority and Financial Conduct Authority (FCA)
Senator Ruben Gallego: Crypto’s Champion for the Underdog—and for American Innovation
When Senator Ruben Gallego (D-AZ) took the stage, the energy in the room shifted. He wasn’t just there to talk policy—he was there to tell a story about why crypto matters, not just to Wall Street, but to the neighborhoods and families that have long been left out of the American financial system. This was
Super trustees need to listen and act now or there will be trouble
On 12 June 2025, the Australian Securities and Investments Commission (ASIC) published the keynote address given by its chair, Joe Longo, at the AmCham Regulator Luncheon Series.
In his speech Mr Longo discusses the role that superannuation plays in the Australian economy, as a significant force in both local and global capital markets, with superannuation
ASIC cracks down on unlawful finfluencers
On 12 June 2025, the Australian Securities and Investments Commission (ASIC) issued a press release stating that it had issued warning notices to 18 social media ‘finfluencers’ suspected of unlawfully promoting high-risk financial products and providing unlicenced financial advice.
Following the issuance of INFO Sheet 269 ‘Discussing financial products and services online’ in 2022, ASIC