Comprehensive state privacy laws are the “new normal.” Comprehensive state privacy legislation is unlikely to slow down any time soon. In the first few weeks of 2025 alone, nineteen comprehensive privacy bills were introduced across ten states. As more states endeavor to jump on the privacy bandwagon, consumer protection offices will no doubt begin to ramp up education and enforcement efforts.
President Trump has issued an Executive Order that requires agencies to review all regulations “for consistency with law and Administration policy.”
In issuing the order, Trump said, “It is the policy of my Administration to focus the executive branch’s limited enforcement resources on regulations squarely authorized by constitutional Federal statutes, and to commence the deconstruction of the overbearing and burdensome administrative state.”
Reports from 4,487 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported a return on assets (ROA) ratio of 1.11 percent and aggregate net income of $66.8 billion in fourth quarter 2024, an increase of $1.5 billion (2.3 percent) from the prior quarter. An increase in net interest income drove the quarterly increase in net income. These and other financial results for fourth quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released today.
The Office of the Comptroller of the Currency (OCC) today released its schedule of Community Reinvestment Act (CRA) evaluations to be conducted in the second and third quarters of 2025.
On January 14, Patriot Bank, N.A. entered into an agreement with the Office of the Comptroller of the Currency (OCC) to address and rectify several unsafe or unsound practices and violations of law. This agreement follows the bank’s reported loss of nearly $27 million for the quarter ending September 30, 2024.
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