Insights: Policy

Open Banking/Dodd-Frank Sec. 1033

The CFPB has started a new process for issuing a rule that dictates how banks are required to share customer data with fintechs (open banking), which is required under Sec. 1033 of Dodd-Frank. The Biden CFPB issued an open banking rule last October and was sued by banking industry stakeholders. In May, the Trump CFPB indicated that it intended...

Deposit Insurance, Reciprocal/Custodial Deposits

Bipartisan consideration of raising the current $250k FDIC deposit insurance limit has intensified, as has policy surrounding reciprocal/custodial deposits. The Senate Banking Committee (SBC) held a hearing on deposit insurance, while Sens. Hagerty (R-TN) and Alsobrooks (D-MD) introduced legislation that would increase the limit to $20m for...

FY26 Funding/Government Shutdown, ACA

Funding for discretionary programs (i.e., loans, grants, military, other government operations - not mandatory/entitlement programs) ceases on 9/30, and if a new “appropriations” bill to fund these programs is not enacted by then, they will shut down. The House today passed a “continuing resolution (CR)” on a partisan Republican basis to sustain...

Tech / Media / Telecom

International Digital Taxes/Regulation

President Trump continues to signal his alignment with large U.S. tech firms, most recently reflected in his hosting of industry leaders (e.g., Bill Gates, Sergey Brin, Tim Cook, Mark Zuckerberg, others) at the White House. Meanwhile, his allies in Congress are highlighting censorship of U.S. citizens abroad and foreign discrimination against...

Tech / Media / Telecom

With California lawmakers having passed new AI legislation - and that bill awaiting Governor Newsom’s approval - Republican discussions around a possible moratorium on state-level AI laws are beginning to reemerge.

Tech / Media / Telecom

AI/Semiconductors

Senate China hawks want to include export control legislation in its annual defense bill (NDAA) that would give U.S. companies the right of first refusal on advanced AI chip orders before foreign countries like China could place orders for the same semiconductors. A similar effort failed in the House earlier this month as the tech industry has...