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CFPB Rescinds Advisory Opinion on Regulation B Special Purpose Credit Programs
The CFPB recently rescinded an advisory opinion on Special Purpose Credit Programs (SPCPs) issued pursuant to certain provisions of the Equal Credit Opportunity Act (ECOA). 91 FR 36518. While ECOA prohibits discrimination on a prohibited basis and generally prohibits the consideration of a prohibited basis in the credit process, it does include an exception for SPCPs.
AB 3100 Interplay with Regulation Z
QUESTION: Is an assumption made pursuant to new California Civil Code Section 2951 a disclosable assumption under Regulation Z?
Increase in SB 616 Automatic Exemption Amount
SB 616 (Chapter 552) added California Code of Civil Procedure (CCP) Section 704.220 by providing a new category of monies that are automatically exempt from a writ of execution and notice of levy. Effective September 1, 2020, specified amounts in the deposit accounts of a natural person judgment debtor are automatically exempt from levy. CCP Section 704.220.
Courts Issues Decisions on Evergreen Standby Letters of Credit
A standby letter of credit may contain an automatic extension provision that the standby letter of credit will automatically extend for an additional period of time unless the issuer notifies the beneficiary prior to a certain date. An automatic extension clause that provides the standby letter of credit will extend each year (unless a termination notice is provided) is generally referred to as an evergreen clause.
NCUA Finalizes Rule Amending Records Preservation Program Regulation
The NCUA recently published a final rule amending its vital records preservation program regulation and accompanying guidelines. 91 FR 36073. The final rule, effective July 16, 2026, largely resembles the NCUA’s March 2026 proposed rule that was announced as part of its Deregulation Project.
Agencies Take Steps to Further Eliminate References to Reputation Risk
On June 2, 2026, the FDIC, OCC, and FRB (the “Agencies”) announced the removal of references to reputation risk from several interagency supervisory guidance documents. The action represents another step in the Agencies’ efforts to ensure supervisory findings are based on objective material financial risks rather than subjective reputational considerations, as well as to increase clarity and facilitate greater precision in supervisory decision making.
Updated List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
On June 30, 2026, the FRB, OCC, and FDIC issued an updated list of distressed and underserved nonmetropolitan middle-income census tracts to be used in calendar year (CY) 2026. The 2026 list identifies the nonmetropolitan middle-income census tracts in which banks’ and savings associations’ revitalization or stabilization activities are eligible to receive Community Reinvestment Act (CRA) community development consideration.
Table of Contents
CONSUMER FINANCE
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CFPB Rescinds Advisory Opinion on Regulation B Special Purpose Credit Programs
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CFPB Announces Changes to Its Consumer Complaint System
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California Attorney General Announces $4.6 Million Settlement with Mortgage Servicer for Homeowner Bill of Rights Violations
CONSUMER FINANCE Q&A
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AB 3100 Interplay with Regulation Z
BANKING OPERATIONS & FINTECH
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Increase in SB 616 Automatic Exemption Amount
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Financial Stability Board Releases Guidance on Sound Practices for AI Adoption
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Agencies Issue Proposed Rule to Implement Customer Identification Program Requirements for Stablecoin Issuers under the GENIUS Act
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FinCEN Issues Updated Guidance Addressing Sharing Fraud Information Between Financial Institutions under Section 314(b)
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Clearing House Announces Initiative to Create On-Chain Payment Platform
COMMERCIAL LENDING
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Courts Issues Decisions on Evergreen Standby Letters of Credit
CREDIT UNIONS
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NCUA Finalizes Rule Amending Records Preservation Program Regulation
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NCUA Issues Interim Final Rule on Authority to Charge Non-Interest Fees
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NCUA Updates Simplified CECL Tool for 2026
CORPORATE GOVERNANCE
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Agencies Take Steps to Further Eliminate References to Reputation Risk
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FDIC Proposes Changes to Deposit Insurance Assessments and Resolution Planning Requirements
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SEC Proposes to Rescind Climate Disclosure Rules
CRA/HMDA CORNER
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Updated List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
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