A firm settled FINRA charges after failing to engage a qualified independent underwriter in a $700 million IPO, where approximately $150 million of the offering proceeds were used to repay a loan to the firm's affiliate.

Ranking Member of the Senate Banking Committee Elizabeth Warren and Senator Andy Kim urged the Federal Deposit Insurance Corporation to reimpose a moratorium on deposit insurance applications submitted by commercially owned industrial loan companies.

The Clearing House Association and Bank Policy Institute urged the U.S. Department of the Treasury to establish clear, consistent, and technology-neutral standards for digital assets under the Bank Secrecy Act.

A coalition of industry associations commended the Federal Communications Commission ("FCC") for proposing to eliminate or revise its "revoke-all" rule, which requires businesses to stop all automated communications to a consumer if they reply "STOP" to any one message.

Six financial trade associations urged Treasury Secretary Scott Bessent and Office of Management and Budget Director Russell Vought to sustain staffing and funding for the Community Development Financial Institutions Fund, a U.S. Treasury program that promotes access to capital in low- and moderate-income communities.