The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
Financial Services
Posted inRegulatory Enforcement
Bankrupt Synapse fintech software company agrees to let CFPB file claim on behalf of consumers
Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
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Banking Compliance in 2025: Key Trends and Future-Proofing Strategies
In addition to a loosening of traditional banking regulation and supervision in areas like capital requirements, stress testing and liquidity, U.S. banking regulators have indicated they will be more receptive to innovation than the previous administration, particularly in the use of Artificial Intelligence, and in digital assets.
Posted inFinancial Services
Regulatory overhaul: SEC’s “project crypto” sets path for U.S. crypto primacy
Securities and Exchange Commission Chairman Paul Atkins has launched “Project Crypto,” a major regulatory overhaul aimed at shifting the agency from enforcement to innovation. Atkins’ address outlined as many as nine Commission-wide initiatives to revamp the SEC’s rulebook for the digital finance era.
Posted inRegulatory Enforcement
CFPB could run out of money by fall, report says
The Trump administration declawed the Consumer Financial Protection Bureau from the very beginning of his second term. It now appears the agency might be running out of money.
Posted inFinancial Services
U.K. proposes streamlining regime meant to hold fin serve executives to account
When growth slows, governments often cut rules to attract investment, as the U.K. has in its financial services sector, which contributes 8.8% of GDP, but easing the “compliance burden” raises concerns about oversight, governance, and prioritizing profits over safety.
Posted inTechnology
U.K. regulator urges auditors to explain AI use in audits
Plans to push audit firms to disclose how they use AI in audits have been broadly welcomed, but concerns remain over how corporate data is used, secured, retained, and potentially exposed.
Posted inFinancial Services
SEC dodges commitment on climate rule enforcement
The SEC refused to say whether it would enforce its landmark Climate-Related Disclosure Rules in a status report filed Wednesday, deepening uncertainty as the regulation faces legal challenges.
Posted inRegulatory Enforcement
Poor monitoring of sanctions compliance led to thousands of violations, $11.8M fine for brokerage firm
A brokerage and investment firm will pay $11.8 million for providing services to individuals under U.S. sanctions, as well as people located in countries sanctioned by the U.S.
Posted inRegulatory Enforcement
U.K. extends bullying and harassment rules to 37,000 financial services firms
Serious bullying and harassment count as misconduct in regulated financial services firms, per a July 1 clarification by the U.K. Financial Conduct Authority, which said non-financial misconduct rules now applied only to banks will extend to 37,000 more firms starting September 1, 2026.