News from the economy, politics and the financial markets
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Kraken Secures Fed Master Account
Payward Financial’s Wyoming Special Purpose Depository Institution (SPDI), Kraken Financial, has received a master account from the Federal Reserve Bank of Kansas City, giving it direct access to the Federal Reserve’s core payment infrastructure. The approval, initially for a one-year term, allows Kraken Financial to connect directly to Fedwire and other Fed payment rails, a capability traditionally limited to insured financial institutions....By: Troutman Pepper Locke
SEC Investor Advisory Committee to Meet on March 12
The SEC’s Investor Advisory Committee will hold a public meeting on March 12, 2026, at 10:00 a.m. ET at the SEC’s headquarters in Washington, D.C. The meeting will also be webcast on the SEC’s website....By: Goodwin
An Overview of FINRA Rule 3110
The Financial Industry Regulatory Authority (FINRA) is an organization that enforces the Securities and Exchange Commission’s (SEC) regulatory requirements. Gaining an overview of FINRA Rule 3110 is critical if your organization is navigating financial compliance or regulatory oversight. You may be responsible for ensuring that your organization maintains adequate supervisory systems to oversee registered representatives and associated persons....By: Hanzo
CATO Market Sounding Launches
We have been tracking the development of the Competitively Appointed Transmission Owners (CATO) framework for some time, from Ofgem's early consultations on development models, to the finalisation of the early competition commercial framework, and most recently the regulatory signal embedded in Ofgem's Draft Determinations of February 2026....By: BCLP
OCC finalizes rules to reduce burdens for community banks
On March 3, the OCC announced it has finalized two rules intended to reduce regulatory burdens for community banks, adopting its earlier proposals to rescind its “Fair Housing Home Loan Data System” (12 CFR part 27) and to amend licensing regulations for certain corporate activities and transactions....By: Orrick, Herrington & Sutcliffe LLP
New York City Finalizes SHIELD Rule Imposing New Requirements on Debt Collection Practices
The New York City Department of Consumer and Worker Protection (“DCWP”) has finalized the Stopping Harassment and Intimidation and Ensuring Lawful Debt Collection Rule (the “SHIELD Rule”), introducing significant new compliance obligations for debt collectors and original creditors operating within New York City....By: Blank Rome LLP
New York Proposes New Regulations for Buy-Now-Pay-Later Loans
Welcome to Goodwin’s Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking....By: Goodwin
Connecticut regulator fines collection agency and control persons over alleged unlicensed activity
On February 10, the Connecticut Department of Banking ordered a collection agency and two control persons to cease and desist from multiple alleged violations of state consumer collection laws and regulations. The action followed an investigation through which the department determined the respondents operated as a consumer collection agency without the required license, contacted consumers in a harassing or abusive manner, and used deceptive tactics in debt collection, in violation of state law...By: Orrick, Herrington & Sutcliffe LLP
Washington state fines mortgage lender $100K, bars it from industry for alleged compliance failures
On February 20, the state of Washington’s Department of Financial Institutions (DFI) issued a consent order against a licensed mortgage lender for violating the Consumer Loan Act and related regulations. The order imposed a $100,000 fine, with $50,000 stayed for five years contingent on compliance, plus an investigation fee of $2,522.31....By: Orrick, Herrington & Sutcliffe LLP
Alternative Investments Are Coming—And Fiduciary Duty Is Coming With Them
If there’s one thing plan sponsors should never forget, it’s this: innovation doesn’t suspend fiduciary responsibility. With all the recent buzz about private equity, private credit, and other alternative investments creeping into 401(k) plans, regulators are reminding the industry that ERISA still runs the show....By: Ary Rosenbaum - The Rosenbaum Law Firm P.C.
New York City adopts expanded debt collection rule effective Sept. 1
On February 26, the New York City Department of Consumer and Worker Protection (DCWP) announced it has adopted, effective September 1, a rule expanding compliance obligations for third-party collectors, debt buyers, and original creditors once they initiate debt collection procedures. Under the revised definitions in the rule, an “original creditor” becomes a “debt collector” when it attempts to collect after stopping periodic statements or bills, or after accelerating the unpaid balance....By: Orrick, Herrington & Sutcliffe LLP
Credit card complaints in the UK
Review and objectives We reviewed a sample of credit card FOS decisions, upheld in the customers favour and upheld in the providers favour. The purpose of the analysis was to: understand weighting of customer evidence versus provider evidence assumptions made where evidence from either or both parties is limited interesting or unexpected statements or assumptions...By: Hogan Lovells
[Video] AI Today in 5: March 9, 2026, The Dr. AI is In Edition
Welcome to AI Today in 5, the newest addition to the Compliance Podcast Network. Each day, Tom Fox will bring you 5 stories about AI to start your day. Sit back, enjoy a cup of morning coffee, and listen in to the AI Today In 5. All, from the Compliance Podcast Network. Each day, we consider five stories from the business world, compliance, ethics, risk management, leadership, or general interest about AI. Top AI stories include: • Scaling AI safely will be a key healthcare issue in 2026. (PR...By: Thomas Fox - Compliance Evangelist
OCC finalizes rule clarifying national trust bank chartering authority
On February 27, the OCC announced that it has finalized its rule amending 12 CFR 5.20 to replace references to “fiduciary activities” with “operations of a trust company and activities related thereto,” aligning the regulation’s language with statutory terms in 12 U.S.C. 27(a)....By: Orrick, Herrington & Sutcliffe LLP
Texas regulator issues consent order against virtual currency kiosk operator for affiliate stablecoin sales
On February 24, the Texas Department of Banking issued a consent order against a virtual currency kiosk and website operator after determining the company conducted unlicensed money transmission involving stablecoins with customers in the state. According to the consent order, the operator had previously been ordered on July 19, 2023, to cease such activity after engaging in transactions through virtual currency kiosks without a license....By: Orrick, Herrington & Sutcliffe LLP
[Video] FCPA Compliance Report: Highlights from SCCE Europe with Gerry Zack
Welcome to the award-winning FCPA Compliance Report, the longest-running podcast in compliance. This is our 800th edition. In this episode, Tom Fox welcomes back Gerry Zack, who recently attended the SCCE Europe conference in Berlin. They begin by noting the differences from the U.S. national conference, including a stronger European focus on behavioral ethics, culture, and community networking. Zack highlights extensive conference attention to AI, including the shift toward agentic AI,...By: Thomas Fox - Compliance Evangelist
Healthcare & Life Sciences Private Equity Deal Tracker: NewSpring Leads Investment in Honest Health
NewSpring Healthcare has led a $140 million capital raise for Honest Health, according to a news release. Honest Health, formed in 2021 and based in Nashville, partners with health systems to support value-based care models, particularly for Medicare patients....By: McGuireWoods LLP
Fed approves first-ever limited purpose master account for digital asset bank
On March 4, the Kansas City Fed announced that it has approved a limited purpose account for a Wyoming-chartered special purpose depository institution under its “Account Access Guidelines.” As previously covered by InfoBytes, Fed Governor Christopher Waller previewed this concept, which he referred to as a “skinny master account,” in October 2025, with the Fed subsequently issuing a proposal and requesting public comment thereon in December 2025....By: Orrick, Herrington & Sutcliffe LLP
NYDFS warns financial sector of heightened cyber threats amid global conflict
On March 3, NYDFS issued an industry letter warning regulated financial entities of heightened cybersecurity threats stemming from ongoing global conflicts. The department noted that while it had not observed signs of a coordinated campaign targeting the financial services sector, recent events warranted increased vigilance....By: Orrick, Herrington & Sutcliffe LLP
California Activates Mandatory Venture Capital Demographic Reporting Program: April 1 Deadline Approaching
The California Department of Financial Protection and Innovation (“DFPI”) has opened the online portal for the Venture Capital Company (“VCC”) Reporting Program, allowing covered venture capital firms to register and submit required demographic reporting under California’s Fair Investment Practices by Venture Capital Companies Act (“FIPVCC”) in Corporations Code Section 27500 et seq....By: Procopio, Cory, Hargreaves & Savitch LLP
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