The Consumer Financial Protection Bureau has finalized revisions to its remittance transfers rule and set October 28, 2013, as the rule’s new effective date. While not entirely eliminating the requirement for remittance...more
5/8/2013
- CFPB Disclosure Requirements Remittance Transfer Rule
Despite the urging of many industry commenters that it eliminate altogether the requirement for remittance transfer providers to disclose recipient institution fees, the CFPB chose not to go that far in the revisions to its...more
5/8/2013
- CFPB Disclosure Requirements Remittance Transfer Rule
By now, brand owners are probably aware of the new generic top-level domains (gTLDs) from the Internet Corporation for Assigned Names and Numbers (ICANN). They may have received literature from various sources about recording...more
4/11/2013
- gTLD ICANN Trademark Clearinghouse Trademarks
The Financial Crimes Enforcement Network (FinCEN) has issued formal guidance to clarify the anti-money laundering obligations of administrators and exchangers of convertible virtual currency.
“Virtual” currency, unlike...more
3/25/2013
- Anti-Money Laundering FinCEN Registration Virtual Currency
The Staff Report on mobile payments recently issued by the Federal Trade Commission (FTC) focuses on areas of concern discussed at the FTC’s April 2012 workshop. The report does not break much new ground, but it does...more
3/18/2013
- Data Protection FTC Mobile Devices Mobile Payments
The Federal Financial Institutions Examination Council (FFIEC) is seeking feedback on proposed guidance to help financial institutions manage the risks of interacting with consumers through social media....more
1/30/2013
- FFIEC Risk Management Social Media
The CFPB has issued a proposed policy under which it would exempt individual companies, on a case-by-case basis, from current federal disclosure requirements to allow those companies to test trial disclosures....more
12/17/2012
- CFPB Disclosure Requirements Exemptions
The Federal Trade Commission recently announced that it entered into a settlement with Epic Marketplace, Inc., (Epic) an online advertising company, of charges that its "history sniffing" practices violated Section 5 of the...more
12/13/2012
- Behavioral Advertising Browser History Sniffing FTC
The CFPB’s latest report card on its information security system, delivered last week by the Bureau’s Office of Inspector General (OIG), indicates that the system still needs improvement....more
11/27/2012
- CFPB OIG
I regularly work with technology innovators to help them get their ideas cleaned up for financial institutions and to give them a headstart in understanding the types of risk concerns and controls that financial institutions...more
11/15/2012
The CFPB has announced the launch of “Project Catalyst,” which it describes as “an initiative designed to encourage consumer-friendly innovation and entrepreneurship in markets for consumer financial products and services.”...more
11/15/2012
The CFPB publicly acknowledged yesterday their interest in innovation in consumer financial services by launching Project Catalyst, as already reported in this blog. It is quite the departure from precedent for a banking...more
11/15/2012
