The courts rejected arguments that the Federal Reserve Banks are required to grant master accounts to all legally eligible depository institutions. We analyze the rulings and their broade...
The Consumer Financial Protection Bureau (CFPB) proposed its long-awaited rule to implement Dodd-Frank Section 1033’s requirements regarding consumer rights to access financial informat...
The House Financial Services Committee approved the Clarity for Payment Stablecoins Act of 2023. If enacted, the legislation would create a regulatory framework for the issuance and overs...
Davis Polk partners Joe Hall, David Portilla and Zach Zweihorn and associate Justin Levine authored “A closer look at competing stablecoin legislative proposals” in Law360. In the art...
The SEC lost a game point in its case against Ripple Labs when a federal court ruled that several categories of XRP token sales were not securities transactions. If adopted by other court...
This deck provides an overview of Dodd-Frank Act Section 1033, sometimes referred to as the Dodd-Frank Act’s “open banking” provision, and reviews developments over the past several...
Representatives Patrick McHenry (R-NC) and Maxine Waters (D-CA), the respective Chair and Ranking Member of the House Financial Services Committee, have been negotiating legislation to re...
The NY Attorney General is seeking legislation that would significantly expand the state’s reach over digital assets and require wholesale changes to the operation of digital asset busi...
The Federal Reserve is placing high hurdles for banks seeking to engage in most cryptoasset-related activities, and the Biden Administration is also signaling an increased resistance towa...
