Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2026 #3

To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week. Federal Activities: On April 10, the U.S. Treasury Department and Internal Revenue Service (IRS) issued proposed regulations (IR-2026-48) implementing the new 1% remittance transfer excise tax under the One, Big, Beautiful Bill. The excise tax applies beginning January 1, 2026, to remittances sent from the U.S. to... By: Troutman Pepper Locke