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Federal Banking Agencies Increase Spotlight on Bank Fintech Arrangements

On July 24, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency (collectively, the Banking Regulators) jointly released the...more

Junk or a Value-Added Service? Federal Regulators and the Biden Administration Go After "Junk" Fees

On Wednesday, October 11, the White House — joined by the Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB or Bureau) — announced new measures aimed at a variety of so-called “junk fees” charged...more

Bank/Fin-Tech Agreements: Re-Assessment Required Given New Regulatory Guidance on Third-Party Servicing Agreements

On June 6, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (Federal Reserve), and the Federal Deposit Insurance Corporation (FDIC) (collectively, the Banking Agencies)...more

Regulatory Interest in Fair Lending Spikes

Although always a significant focus of consumer lending, recent regulatory actions and pronouncements illustrate the sharp focus fair lending issues are receiving by both federal financial regulators and research bureaus....more

New York Department of Financial Services Alters Effectiveness Date of New Commercial Financing Disclosure Laws

New York's Department of Financial Services (DFS or Department) has used its authority to extend a statutorily-mandated January 1, 2022, effective date. As we previously reported in our September 30 Client Alert, the DFS...more

New York Department of Financial Services Issues Proposed Rules Implementing Commercial Financing Disclosure Laws

On September 21, 2021, the State of New York Department of Financial Services (DFS) issued proposed regulations that will implement statutory requirements related to commercial financing disclosures for certain types of...more

The FDIC's Final Rule on Applications by Industrial Banks: A Formalized Road Map for FinTechs Considering a National Banking...

This advisory discusses the Federal Deposit Insurance Corporation's new Final Rule, which imposes obligations on parent companies of industrial banks, and what fintech companies should consider when evaluating an industrial...more

Corporate & Financial Weekly Digest, Featuring Articles on New Position Limits Requirements and Amended Margin Requirements From...

CFTC - CFTC Adopts New Position Limits Requirements - On October 15, the Commodity Futures Trading Commission adopted new rules on position limits. As described in greater detail in Katten’s advisory, CFTC Adopts New...more

DFS Superintendent Lawsky Discusses Revised BitLicense Framework

On December 18, New York State Department of Financial Services (DFS) Superintendent Benjamin Lawsky delivered remarks on the revised BitLicense framework at the Bipartisan Policy Center in Washington, DC. If adopted, the...more

Conference of State Bank Supervisors Issues Draft Model Regulatory Framework on Virtual Currency

On December 16, the Conference of State Bank Supervisors (CSBS), a state banking watchdog group, released a draft model regulatory framework on virtual currency (Draft Framework) that is less stringent than the originally...more

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