On August 7, 2025, President Donald Trump signed an executive order titled “Guaranteeing Fair Banking for All Americans,” directing federal agencies to combat “debanking” — the denial or termination of financial services based on political views, religious beliefs, or industry affiliation. The executive order expands on numerous recent federal and state initiatives targeting debanking — including the joint U.S. Department of Justice (DOJ)/Commonwealth of Virginia Equal Access to Banking Task Force, two recent bills introduced in the U.S. Senate, and actions by the federal financial regulators to remove “reputation risk” as a supervisory consideration.
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00David E. Teitelbaumhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngDavid E. Teitelbaum2025-08-08 18:41:552026-04-14 13:43:55President Trump Signs “Fair Banking” Executive Order Directing Financial Regulators to Remedy Past and Present Debanking Practices
On July 30, 2025, the U.S. Department of Justice (DOJ) issued guidance on “unlawful discrimination” for recipients of federal funding and other entities subject to federal antidiscrimination laws, further underscoring Trump administration officials’ commitment to pursuing investigations and enforcement activity in this area.
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00Jaime L.M. Joneshttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngJaime L.M. Jones2025-08-04 17:28:282026-04-15 12:57:55U.S. DOJ Issues Guidance on “Unlawful Discrimination” Related to DEI Programs for Recipients of Federal Funding
The first six months of the current Trump administration have made it clear that tariffs are here to stay and that noncompliance — intentional or otherwise — will be subject to potentially significant criminal and civil liability. Indeed, the administration has committed to an August 1, 2025, deadline for new country-specific tariffs to begin. The scale, speed, and complexity of the changes in the U.S. tariff landscape over the previous six months (which will likely continue) has created an environment ripe for noncompliance. (more…)
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00Kristin Graham Koehlerhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngKristin Graham Koehler2025-08-01 17:20:292026-04-15 12:58:47Tariff Evasion Is Within DOJ’s Crosshairs: Potential Criminal and Civil Consequences for Noncompliance With Increased U.S. Tariffs
On July 21, 2025, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) announced that it intends to postpone the effective date of the final rule requiring anti-money-laundering (AML) programs for certain investment advisers (the IA AML Rule). The rule, previously scheduled to take effect on January 1, 2026, will now be delayed until January 1, 2028.
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00Paul M. Tyrrellhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngPaul M. Tyrrell2025-07-21 16:53:412026-04-15 12:59:57FinCEN Postpones Effective Date of Anti-Money-Laundering Rule for Investment Advisers and Exempt Reporting Advisers
On July 8, 2025, the U.S. Department of Justice (DOJ)’s Antitrust Division announced its partnership with the Postal Service to offer financial rewards to individuals who report violations of antitrust laws and related offenses affecting the Postal Service, its revenues, or its property.
On July 2, 2025, the U.S. Department of Justice (DOJ) announced the renewal of the DOJ-HHS False Claims Act Working Group (Working Group), a partnership with the U.S. Department of Health and Human Services (HHS) that aims to strengthen use of the False Claims Act (FCA) to combat healthcare fraud. (more…)
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00Kristin Graham Koehlerhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngKristin Graham Koehler2025-07-07 16:56:522026-04-15 13:02:08U.S. DOJ Announces Renewal of FCA Working Group
On June 11, 2025, the U.S. Department of Justice (DOJ) Civil Division issued a memorandum outlining five Trump administration policy objectives and “direct[ing] Civil Division attorneys to prioritize investigations and enforcement actions advancing these priorities.”1 The memorandum is signed by Assistant Attorney General Brett A. Shumate, who was confirmed by the Senate two days earlier, on June 9, 2025.2 One of the five policy objectives, entitled “Protecting Women and Children,” has potentially significant enforcement implications for pharmaceutical companies whose drugs may be used in gender transition care — even if they are used off-label.
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00David J. Ludlowhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngDavid J. Ludlow2025-06-23 15:22:572026-04-15 13:03:26U.S. DOJ Civil Division to Investigate Possible Violations of the Food, Drug, and Cosmetic Act by Pharmaceutical Firms Manufacturing Drugs Used in Gender Transition Care
On June 10, 2025, the U.S. Department of Justice (DOJ)’s Deputy Attorney General, Todd Blanche, unveiled DOJ’s new “Guidelines for Investigations and Enforcement of the Foreign Corrupt Practices Act (FCPA)” (FCPA Guidelines). The FCPA Guidelines, directed to the head of the DOJ’s Criminal Division, Matthew R. Galeotti, follows President Donald Trump’s February 10, 2025 executive order (EO) generally pausing FCPA enforcement for 180 days and directing the Attorney General to develop new criteria for new FCPA investigations in that same time period. (The prior EO was analyzed in a Sidley alert available here.)
http://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.png00White Collar Watchhttp://whitecollarwatch.sidley.com/wp-content/uploads/sites/8/2026/03/sidleyLogo-e1643922598198.pngWhite Collar Watch2025-06-11 18:20:192026-04-15 13:04:13The Freeze Has Thawed: DOJ Issues New Directive to Pursue FCPA Cases that Vindicate U.S. National Interests
President Trump Signs “Fair Banking” Executive Order Directing Financial Regulators to Remedy Past and Present Debanking Practices
On August 7, 2025, President Donald Trump signed an executive order titled “Guaranteeing Fair Banking for All Americans,” directing federal agencies to combat “debanking” — the denial or termination of financial services based on political views, religious beliefs, or industry affiliation. The executive order expands on numerous recent federal and state initiatives targeting debanking — including the joint U.S. Department of Justice (DOJ)/Commonwealth of Virginia Equal Access to Banking Task Force, two recent bills introduced in the U.S. Senate, and actions by the federal financial regulators to remove “reputation risk” as a supervisory consideration.
(more…)
David E. Teitelbaum
Washington, D.C.
dteitelbaum@sidley.com
Thomas G. Ward
Washington, D.C.
tgward@sidley.com
David I. Monteiro
Dallas
david.monteiro@sidley.com
Lisa H. Miller
Washington, D.C.
lisa.miller@sidley.com
Michael E. Borden
Washington, D.C.
mborden@sidley.com
Michael D. Lewis
Washington, D.C.
michael.lewis@sidley.com
Kristin Lee
New York
kristin.lee@sidley.com
Alexa Poletto
New York
apoletto@sidley.com
U.S. DOJ Issues Guidance on “Unlawful Discrimination” Related to DEI Programs for Recipients of Federal Funding
On July 30, 2025, the U.S. Department of Justice (DOJ) issued guidance on “unlawful discrimination” for recipients of federal funding and other entities subject to federal antidiscrimination laws, further underscoring Trump administration officials’ commitment to pursuing investigations and enforcement activity in this area.
(more…)
Jaime L.M. Jones
Chicago
jaime.jones@sidley.com
Kristin Graham Koehler
Washington, D.C.
kkoehler@sidley.com
Lisa H. Miller
Washington, D.C.
lisa.miller@sidley.com
Katherine A. Roberts
Los Angeles, San Francisco
kroberts@sidley.com
Gordon D. Todd
Washington, D.C.
gtodd@sidley.com
Emily A. Rose
Washington, D.C.
emily.rose@sidley.com
Tariff Evasion Is Within DOJ’s Crosshairs: Potential Criminal and Civil Consequences for Noncompliance With Increased U.S. Tariffs
The first six months of the current Trump administration have made it clear that tariffs are here to stay and that noncompliance — intentional or otherwise — will be subject to potentially significant criminal and civil liability. Indeed, the administration has committed to an August 1, 2025, deadline for new country-specific tariffs to begin. The scale, speed, and complexity of the changes in the U.S. tariff landscape over the previous six months (which will likely continue) has created an environment ripe for noncompliance. (more…)
Kristin Graham Koehler
Washington, D.C.
kkoehler@sidley.com
Ted Murphy
Washington, D.C.
ted.murphy@sidley.com
Craig Francis Dukin
Washington, D.C.
cdukin@sidley.com
Aaron M. Applebaum
Washington, D.C.
aapplebaum@sidley.com
FinCEN Postpones Effective Date of Anti-Money-Laundering Rule for Investment Advisers and Exempt Reporting Advisers
On July 21, 2025, the U.S. Department of the Treasury Financial Crimes Enforcement Network (FinCEN) announced that it intends to postpone the effective date of the final rule requiring anti-money-laundering (AML) programs for certain investment advisers (the IA AML Rule). The rule, previously scheduled to take effect on January 1, 2026, will now be delayed until January 1, 2028.
(more…)
Paul M. Tyrrell
Boston
ptyrrell@sidley.com
Chuck Daly
New York, Boston
cdaly@sidley.com
Ranah Esmaili
Washington, D.C., New York
resmaili@sidley.com
Whistleblower Rewards Continue to Grow: U.S. DOJ’s Antitrust Division Joins the Fray
On July 8, 2025, the U.S. Department of Justice (DOJ)’s Antitrust Division announced its partnership with the Postal Service to offer financial rewards to individuals who report violations of antitrust laws and related offenses affecting the Postal Service, its revenues, or its property.
(more…)
Benjamin Nagin
New York
bnagin@sidley.com
Carrie Mahan
Washington, D.C.
carrie.mahan@sidley.com
Corey Roush
Washington, D.C.
corey.roush@sidley.com
Scott D. Stein
Chicago
sstein@sidley.com
Kenneth A. Polite Jr.
Washington, D.C., New York
kpolite@sidley.com
Craig Francis Dukin
Washington, D.C.
cdukin@sidley.com
Lisa H. Miller
Washington, D.C.
lisa.miller@sidley.com
U.S. DOJ Announces Renewal of FCA Working Group
On July 2, 2025, the U.S. Department of Justice (DOJ) announced the renewal of the DOJ-HHS False Claims Act Working Group (Working Group), a partnership with the U.S. Department of Health and Human Services (HHS) that aims to strengthen use of the False Claims Act (FCA) to combat healthcare fraud. (more…)
Kristin Graham Koehler
Washington, D.C.
kkoehler@sidley.com
Jaime L.M. Jones
Chicago
jaime.jones@sidley.com
Raj D. Pai
Washington, D.C.
rpai@sidley.com
David J. Ludlow
Washington, D.C.
dludlow@sidley.com
Matt Bergs
Chicago
mbergs@sidley.com
Joseph R. LoCascio
Chicago
joseph.locascio@sidley.com
U.S. DOJ Civil Division to Investigate Possible Violations of the Food, Drug, and Cosmetic Act by Pharmaceutical Firms Manufacturing Drugs Used in Gender Transition Care
On June 11, 2025, the U.S. Department of Justice (DOJ) Civil Division issued a memorandum outlining five Trump administration policy objectives and “direct[ing] Civil Division attorneys to prioritize investigations and enforcement actions advancing these priorities.”1 The memorandum is signed by Assistant Attorney General Brett A. Shumate, who was confirmed by the Senate two days earlier, on June 9, 2025.2 One of the five policy objectives, entitled “Protecting Women and Children,” has potentially significant enforcement implications for pharmaceutical companies whose drugs may be used in gender transition care — even if they are used off-label.
(more…)
David J. Ludlow
Washington, D.C.
dludlow@sidley.com
Benjamin B. Correa
Washington, D.C.
bcorrea@sidley.com
Raj D. Pai
Washington, D.C.
rpai@sidley.com
Rebecca K. Wood
Washington, D.C.
rwood@sidley.com
Monica Kofron
Washington, D.C.
mkofron@sidley.com
The Freeze Has Thawed: DOJ Issues New Directive to Pursue FCPA Cases that Vindicate U.S. National Interests
On June 10, 2025, the U.S. Department of Justice (DOJ)’s Deputy Attorney General, Todd Blanche, unveiled DOJ’s new “Guidelines for Investigations and Enforcement of the Foreign Corrupt Practices Act (FCPA)” (FCPA Guidelines). The FCPA Guidelines, directed to the head of the DOJ’s Criminal Division, Matthew R. Galeotti, follows President Donald Trump’s February 10, 2025 executive order (EO) generally pausing FCPA enforcement for 180 days and directing the Attorney General to develop new criteria for new FCPA investigations in that same time period. (The prior EO was analyzed in a Sidley alert available here.)
(more…)
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