#22 in the LEI Lightbulb Blog Series – The LEI in U.S. Law: What the FDTA Final Joint Rule Means

U.S. federal agencies have historically run more than 50 distinct, incompatible entity identification systems, and the Financial Data Transparency Act (FDTA), signed into law in 2022, set out to fix that fragmentation. The June 2026 FDTA final joint rule establishes the Legal Entity Identifier (LEI) as the standard for entity identification across U.S. financial agencies, and the post explains why the LEI was selected and what organizations should do to prepare for compliance.