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National Credit Union Administration (NCUA)
NCUA Seeks Credit Union Input at Virtual Town Hall on Sept. 9
The NCUA will host a Virtual Strategic Plan Town Hall on Tuesday, Sept. 9 starting at 2 p.m. ET. The event invites credit union industry stakeholders to provide input on the next NCUA Strategic Plan and the upcoming priorities of the agency.
The NCUA Strategic Plan Town Hall will be a moderated virtual discussion open to credit unions, credit union service organizations (CUSOs), leagues, and industry trades.
Participants are required to register in advance and are encouraged to submit Strategic Plan-related discussion topics via the town hall registration form.
U.S. Court of Appeals Grants Stay and Sets Expedited Briefing Schedule for Harper-Otsuka Challenge to NCUA Dismissal
The U.S. Court of Appeals for the D.C. District sets a fast track briefing schedule in the dismissal of NCUA board members Todd Harper and Tanya Otsuka. In addition, the court order grants the administration’s emergency motion for stay pending appeal, which will keep both off the board until the litigation is resolved.
The administration’s next brief is due Sept. 12, with Harper and Otsuka’s reply brief to follow by Oct. 3, and the government’s reply due Oct. 17. The clerk of the court was directed to schedule the case for “the first appropriate date following the conclusion of the briefing,” with the parties to be informed of oral argument dates later.
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Consumer Financial Protection Bureau (CFPB)
Advance Notice of Proposed Rulemaking for Open Banking Rule
The CFPB published an advance notice of proposed rulemaking in the Federal Register seeking input on four issues related to the implementation of section 1033 of the Dodd-Frank Act.
The questions the CFPB is seeking comment on are:
The CFPB is also seeking comment on the appropriateness of the compliance dates in the final rule and what extension may be appropriate.
Comments are due by Oct. 21, 2025.
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Financial Crimes Enforcement Network (FinCEN)
Treasury Extends Effective Dates of Orders Issued Under New Authority to Counter Fentanyl
FinCEN extended the effective dates of orders prohibiting certain transmittal of funds involving three Mexico-based financial institutions. Covered financial institutions will now have until Oct. 20, 2025, to implement the orders prohibiting certain transmittal of funds involving CIBanco S.A., Institución de Banca Multiple (CIBanco), Intercam Banco S.A., Institución de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector), each of which FinCEN found to be of primary money laundering concern in connection with illicit opioid trafficking pursuant to the Fentanyl Sanctions Act and the FEND Off Fentanyl Act.
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U.S. Department of Treasury (Treasury)
Treasury Issues Request for Comment Related to the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act
The Treasury issued a Request for Comment to fulfill the Treasury’s obligation under the GENIUS Act as part of the process to create a comprehensive regulatory framework for stablecoin issuers in the United States.
The GENIUS Act lists four specific technologies on which Treasury should seek comment:
Consistent with the GENIUS Act, when conducting research on these and other innovative or novel methods, techniques, or strategies, Treasury will evaluate and consider:
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improvements in the ability of financial institutions to detect illicit activity involving digital assets;
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costs to regulated financial institutions;
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the amount and sensitivity of information that is collected or reviewed;
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privacy risk associated with the information that is collected or reviewed;
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operational challenges and efficiency considerations;
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cybersecurity risks; and
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effectiveness of the methods, techniques, or strategies at mitigating illicit finance.
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Internal Revenue Service (IRS)
IRS Issued FAQs to Address the Accelerated Termination of Several Energy Provisions Under the OBBBA
The IRS released FAQs to provide guidance on several energy credits and deductions that are expiring under OBBB and their termination dates.
The FAQs also provide clarification on the availability of the new clean vehicle credit, the energy efficient home improvement credit, and the residential clean energy credit, among others.
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