Apparently the WhoPoo App has thoughts on whether FSOC should designate nonbank financial firms for regular supervision.

I demand to know who put the theme to "Mr. Belvedere" in my head this morning. www.youtube.com/watch?v=k-GM...

Roger Wilco

In 2024, the Supreme Court overturned a Second Circuit ruling that blocked a New York mortgage escrow interest requirement's application to national banks. Today, the Second Circuit said that law is still preempted and national banks don't have to comply. news.bloomberglaw.com/banking-law/...

Took my kid to a ninja warrior tournament this weekend. It was my first time driving an electric car, and I'm not sure I ever want to go back to a gas-powered one. And I heard many, many kids threw around using AI as an insult. "You use AI!" "I don't." "Oh, that [insert terrible thing] is so AI."

John Sterling was so much fun as a broadcaster that he even made Michael Kay bearable. Did I know what was happening in the game? Not really, unless Suzyn gave an update. But I stopped watching the Yankees because Kay is just insufferable on his own.

Here's a Friday night special from the OCC: An interim final rule blocking all state interchange laws from applying to national banks and an order saying Illinois's ban on interchange for taxes and tips is preempted. news.bloomberglaw.com/banking-law/...

This, from @benjaminpenn.bsky.social and @ccastronuovo.bsky.social is a really good explanation of the mechanics in the Justice Department's criminal complaint against the SPLC, and some choices prosecutors made that a judge may find questionable. news.bloomberglaw.com/us-law-week/...

The CFPB is set to release its final rule gutting fair lending enforcement tomorrow (it's in the Federal Register's Public Inspection file today). The rule eliminates the use of disparate impact and otherwise implements a November proposal. news.bloomberglaw.com/banking-law/...

The Mets may stink something awful, but at least I get taser ads when I listen to the games on the radio.

I got a new work laptop. The control and function keys are in reverse order from my old one. It's surprisingly debilitating.

This story from Maia, Megan Crapeau and @bethawang.bsky.social is really tremendous and I urge folks to read it. Really makes me proud to be in this newsroom.

Oh, so now New Jersey likes congestion pricing.

For all you National Bank Act preemption fans, the OCC's interim final rules meant to block Illinois's interchange fee law and other similar fee restrictions were sent for White House review yesterday.

Last year, Donald Trump and Russell Vought tried to eliminate the CDFI Fund. Republicans pushed back, the agency got funded. It was a whole thing. Except Vought still hasn't signed off on disbursement plans. So the funds are still just sitting there. news.bloomberglaw.com/banking-law/...

We're going to Ireland next week and my younger son has made it his mission to learn how to shout 6-7 in Gaelic. He already does it in English, Spanish, French, and Italian. While I appreciate his enthusiasm for languages, it doesn't get any less annoying.

The Trump administration asked the DC Circuit for permission to fire around half of the CFPB's in a late Tuesday night motion. The court wanted a particularized plan for how Russ Vought intends to meet statutory obligations, and they got one. news.bloomberglaw.com/banking-law/...

NEW: DOJ Inspector General refused to investigate whistleblower Erez Reuveni's misconduct complaint against Emil Bove & other top officials, as watchdog accused of failing to probe political scandals under Trump news.bloomberglaw.com/us-law-week/...

I'm listening to the Mets on the radio (and working! I promise!) and apparently a dead bird fell from the sky right next to Carson Benge in right field?

I just watched a couple of Democratic lawmakers ask Fed, FDIC, OCC, and NCUA officials what those agencies are doing about prediction markets. The officials all found polite ways to say, "That's not us. Talk to the SEC and CFTC." I would like to reclaim my time.

Get your pencils ready, folks. The Basel III endgame proposals are gonna hit the Federal Register tomorrow and the comment period closes June 18.

My Pumpkins? Smashed.

The FTC says that it wants to take a close look at teen-focused financial apps. The timing makes sense, what with MrBeast getting involved in the action now. New from Cassandre Coyer and me. news.bloomberglaw.com/banking-law/...

In these dark times, it's good to know that heroes walk among us.

Now that the capital rules are out for comment, the OCC (and FDIC and NCUA) are getting ready for their long-anticipated rewrite of AML rules. This hit the White House regulatory review office yesterday.

I spent all night trying to remember what this reminded me of. And then it hit me.

As this this story from yesterday in Oregon posted, I was writing up a federal judge in a separate case ordering Vought to get money from the Fed and shredding the Justice Department's argument that he can't. No, not the DC case. Today's was in California. news.bloomberglaw.com/banking-law/...

Looks like Thursday is the official day for the FDIC and OCC, at least, to release they're big capital rule rewrites. www.fdic.gov/news/board-m...

The news is that Russ Vought is going to ask for more money for the CFPB by the end of the month. The story is how a bad day a Justice Department lawyer had when he delivered this news to Judge Ann L. Aiken of the federal district court in Eugene, Ore. news.bloomberglaw.com/banking-law/...

I'm not a lawyer, but tell me if it's bad if a judge says this to you in a hearing. “I’m having a hard time with this argument, so maybe you might want to move on to something else.” It's in yet another case about CFPB funding, and that was to a Justice Department lawyer.

What happens when you shift from trying to destroy a government agency, lose around half of your lawyers, and then undertake an ambitious rulemaking agenda? You scramble to get the remaining lawyers to switch jobs. New from me: news.bloomberglaw.com/banking-law/...

To date, Russ Vought has yet to make a public appearance with his acting CFPB director hat on. That changes on April 30, when he's supposed to speak at the Innovative Payments Conference in DC. It's closed to the press, apparently. Transparency! www.ipa.org/ipcagenda.html

We're getting the band back together! iop.harvard.edu/events/study...

I've had a trio of stories on goings on at the Office of the Comptroller of the Currency in the last day. Here's the latest: If you're a national bank and you have an outstanding MRA, there's a pretty good chance it's going away: news.bloomberglaw.com/banking-law/...

I know there are much bigger things going on, but why would you watch one of these Godzilla movies when Godzilla Minus One or Shin Godzilla already exist?

Just a reminder that the original name of this law school (back in 2016) was the Antonin Scalia School of Law, and then it was quickly changed to the Antonin Scalia Law School. Take a quick look and see if you can guess why they made the change.

They better get that last season of Hacks out fast, because I'm not paying for yet another streaming service.

From today's Senate Banking Committee hearing, Sen. Van Hollen asks Comptroller of the Currency Gould about the World Liberty trust charter application: Gould: If you're suggesting the president would do anything inappropriate or illegal, then I reject that. CVH: Oh I am suggesting that.

Hold my calls!

I was checking around the CFPB a few weeks ago to see if the agency was still funding Vought's security. The folks I spoke with said it appeared that was no longer the case. And there you go. www.reuters.com/world/us/whi...

The Fed is reviewing all outstanding supervisory concerns raised with the banks it oversees to ensure they conform with the Trump administration's focus on material financial risk in a win for Wall Street. New from Katanga Johnson, Hannah Levitt, and me. news.bloomberglaw.com/banking-law/...

A federal judge in Illinois allow the state's ban on swipe fees on taxes and tips to move forward, adding a new chapter to the never-ending interchange fee wars. news.bloomberglaw.com/banking-law/...

In late January, a credit reporting trade group said the CFPB should make changes to its complaint database that will decrease the number of complaints filed. On Wednesday, the CFPB did just that (IN ALL CAPS). news.bloomberglaw.com/banking-law/...

Do I have any followers here who work at a regional fed bank? If so, I have a question. Signal is reporterev.85

Exclusive: DOJ is requiring all 93 US attorneys to designate prosecutors for "emergency jump teams" supporting surge districts dealing with assaults & obstruction of federal officers, per internal memo. Comes as more Minn. prosecutors resign. news.bloomberglaw.com/us-law-week/...

Catherine O'Hara even manages to make this fun.

This was probably the best scene from Darren Aronofsky's AI American Revolution show. So lifelike!