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New York DFS Targets Third-Party Relationships in Letters to Banks

Why it matters - Continuing the regulatory focus on third-party relationships, New York’s Department of Financial Services (DFS) has sent multiple letters to banks across the country to address the issue of data...more

12/18/2014 - Banking Sector Banks Cybersecurity Data Protection Third-Party Relationships

Online Privacy Notice Rule Finalized by CFPB

Why it matters - A rule allowing financial institutions to post their annual privacy notices online (rather than having to mail them to customers individually) has been finalized by the Consumer Financial Protection...more

11/11/2014 - Annual Notices CFPB Financial Institutions Notice of Privacy Practices Popular Privacy Notice Rule Websites

CFPB Report: Overdraft Fees “Impose Heavy Costs” on Consumers

Expressing concern about the cost to consumers of opting in to receive overdraft protection, the Consumer Financial Protection Bureau (CFPB) released a new report furthering speculation about regulatory action....more

8/20/2014 - CFPB Opt-In Overdraft Fees

“Next Step” in New York’s Fight Against Payday Lenders: Adding Banks to the Team

Continuing the fight against payday lenders, New York Governor Andrew Cuomo announced the launch of a new database and the cooperation of Bank of America, which will work with the state’s Department of Financial Services...more

7/9/2014 - Banks Department of Financial Services Lenders Payday Loans

NY Regulator Cracks Down on Payday Lenders’ Use of Debit Networks

New York’s Department of Financial Services (DFS) is expanding its efforts to combat illegal payday lending to New York consumers by taking a series of steps to prevent payday lenders from collecting payments through the...more

5/23/2014 - Debit Cards MasterCard Payday Loans Visa Inc

Regional FDIC Office Releases Overdraft Fee Guidance

Earlier this month the Kansas City Regional Office of the Federal Deposit Insurance Corporation (FDIC) released updated guidance on overdraft fees. The Regional Office noted that many changes have occurred in the...more

5/12/2014 - Banks FDIC Overdraft Fees

Financial Services Law - Feb 10, 2014

Swipe Fee Settlement Yields More Litigation - Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more

2/11/2014 - American Express Antitrust Litigation Banks Class Action Deposit Advances FDIC Fees MasterCard Prepaid Payment Products Toys R Us Visa Inc Visas

Financial Services Law - Jan 30, 2014

Swipe Fee Settlement Yields More Litigation - Although the parties reached a $7.25 billion class action settlement of the antitrust suit brought by merchants against Visa and MasterCard over swipe fees, the case is far...more

1/31/2014 - Antitrust Litigation Banks Business Judgment Rule Class Action Deposit Advances Directors FDIC Fees MasterCard Merchant Fees Payday Loans Settlement Visa Inc

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