News & Analysis as of

Mobile Apps FinTech

Allen Matkins

Selling Unqualified Securities?  There's Are/Were Apps For That

Allen Matkins on

If someone told my younger self that someday people would take photographs with their phones, I would have wondered where you would insert the film.*  Today, the question would be "What is film?"  When I headed the Department...more

American Conference Institute (ACI)

What the CFPB’s ‘Larger Participants’ Rule Means for FinTech Firms

Certain financial technology (FinTech) firms will soon be subject to the Consumer Financial Protection Bureau’s (CFPB) supervisory authority under the Consumer Financial Protection Act, and should be prepared accordingly....more

Orrick, Herrington & Sutcliffe LLP

FTC acts against fintech app for misrepresentations made about cash advances

On January 2, the FTC issued a complaint and stipulated order against a personal finance mobile application that offers its users short-term cash advances through “floats.” According to the complaint, the defendant...more

Sheppard Mullin Richter & Hampton LLP

CFPB Acts Against Fintech Operator of Mobile App for Illegal International Money Transfers

On October 17, the CFPB took action against a nonbank fintech company for allegedly deceiving consumers about the speed and cost of remittance transfers through its mobile app. The Bureau also alleges that the company...more

Hudson Cook, LLP

CFPB Bites of the Month - September 2023 - Harvesting the Latest Compliance Crop

Hudson Cook, LLP on

In this month's article, we share some of our top "bites" for the prior month covered during the September 2023 webinar. Bite 1: Update on Federal Student Loan Borrowers - On September 5, 2023, the CFPB reminded...more

Goodwin

FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance

Goodwin on

Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more

Foster Garvey PC

Online Travel Update: Assessing Instant Booking Apps for Event Management, Fintech Promises, and Texas Resort Fees Settlements

Foster Garvey PC on

As evidenced by our list of stories, it was a relatively quiet week in online travel. The Texas Attorney General’s Office and its pursuit of hotel companies over their resort fee practices garnered most of the industry’s...more

Perkins Coie

New DOJ Guidance on Personal Devices and Third-Party Messaging Applications Applies to Any Company DOJ May Scrutinize

Perkins Coie on

The U.S. Department of Justice (DOJ) recently released new guidance announcing several policy changes to further strengthen and clarify its approach to prosecuting corporate crime. The guidance, released through a memorandum...more

Foster Garvey PC

Online Travel Update: Dissatisfaction With Expedia Directors, and Apple Enters Fintech Space

Foster Garvey PC on

Like prior weeks’ Updates, this week’s Update features stories on the growing phenomenon of fintech and its effect on the travel industry. Enjoy....more

Foster Garvey PC

Online Travel Update: Musafir Partners with Mastercard to Launch Innovative Payment Options, and Wyndham Announces New Trip...

Foster Garvey PC on

This week’s Update features two stories detailing fintech’s growing influence on online travel. Regular readers of our Update know that we’ve featured a number of fintech and payment related stories this past year, with...more

Eversheds Sutherland (US) LLP

Focus on Fintech: Senate Debates Bill Aimed at Online Marketplaces and App Stores

In line with the CFPB’s and FTC’s recent scrutiny of big tech companies, Senator Amy Klobuchar (D-MN) introduced the American Innovation and Choice Online Act (AICO Act) on October 18, 2021. The bill is co-sponsored by Sen....more

Sheppard Mullin Richter & Hampton LLP

CFPB Opts Not to Take Action Against Banking App

Ahead of an upcoming merger between a digital banking platform and a special purpose acquisition company, both parties disclosed in a regulatory filing last week that the platform received a Civil Investigative Demand (“CID”)...more

Foster Garvey PC

Online Travel Update: Vrbo gets creative when facing vacation rentals shortages; Booking.com creates fintech business to enhance...

Foster Garvey PC on

This week’s Update features details on two recently filed lawsuits — one by American Airlines against Sabre and the other against Southwest Airlines by airfare discounter, Skiplagged. Enjoy....more

Nelson Mullins Riley & Scarborough LLP

FinTech – Bank Model Partnerships

The relationship between FinTechs and banks has significantly evolved in the past ten years, from a competitive stance to beneficial partnerships. We recently presented at the 2021 Tennessee Bankers Association Annual...more

Perkins Coie

Fintech Week in Review: December 2020

Perkins Coie on

FTC Alleges Mobile App’s Deposit Promises Were Deceptive - Following a May 2020, civil investigative demand, the Federal Trade Commission (FTC) filed suit against the operators of a mobile banking app, alleging that they...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 8, October 2020

Attorney General William P. Barr Announces Publication of Cryptocurrency Enforcement Framework - "The Framework provides a comprehensive overview of the emerging threats and enforcement challenges associated with the...more

Robins Kaplan LLP

Financial Daily Dose 8.21.2020 | Top Story: Court Stays CA Gig-Worker Law; Uber and Lyft to Keep Operating in State During Appeal

Robins Kaplan LLP on

A state appeals court in California has preempted Uber and Lyft’s threatened state-wide shutdown over a new state law ordering them to reclassify their drivers as employees by “allowing them to continue operating [under their...more

Robins Kaplan LLP

Financial Daily Dose 8.3.2020 | Top Story: Microsoft in Talks to Acquire ByteDance’s U.S. TikTok Operations

Robins Kaplan LLP on

Following recent histrionics from the White House, ByteDance, “the Chinese internet giant that owns TikTok, has offered to sell all of the popular video app’s American operations as a way to save the business from being...more

Farella Braun + Martel LLP

Strategy Lessons From Wells Fargo Fintech Patent Litigation

United States Automobile Association (USAA) is a financial services company that provides insurance, banking, investment, and retirement products and services for members of the military and their families. On June 7, 2018,...more

White & Case LLP

Financial Regulatory Observer - December 2019: Digitalization: Regulating the future of finance

White & Case LLP on

As technology reshapes the banking industry, regulators are rising to the challenge. Digitalization is at the forefront of the challenges facing the banking industry as it undergoes a period of unprecedented upheaval....more

Robins Kaplan LLP

Financial Daily Dose 12.16.2019 | Top Story: Boeing Execs Mull Halting 737 Max Production as FAA Clearance Stalls

Robins Kaplan LLP on

Boeing’s 737 MAX faces an uncertain future. Boeing is considering at least a temporary halt to its 737 Max production “as regulatory clearance for the grounded jet’s return looks increasingly likely to slip beyond January...more

Robinson+Cole Data Privacy + Security Insider

New Malware Targets Big Banks and Cryptocurrency Apps

New malicious malware dubbed “Gustuff” targets big banks, fintech companies and cryptocurrency apps, according to the security firm Group IB....more

Wilson Sonsini Goodrich & Rosati

Regulatory Landscape for Fintech, Electronic Commerce, and Electronic Banking: Part One

Part 1: Electronic Commerce - This is the first part of a two-part article discussing the regulatory landscape for financial technology as applied to electronic commerce and electronic banking. This article focuses on...more

Kilpatrick

Speech by Federal Reserve Board Governor Brainard on Fintech and the Search for “Full Stack” Financial Inclusion

Kilpatrick on

On October 17, 2018, Federal Reserve Board Governor Lael Brainard delivered a speech entitled “FinTech and the Search for Full Stack Financial Inclusion” at the FinTech, Financial Inclusion — and the Potential to Transform...more

Kilpatrick

As Fintech Apps Become More Popular, Consumer Privacy Concerns Persist

Kilpatrick on

On August 22, 2018, The Clearing House issued a report concerning fintech apps and data privacy. The report notes how fintech apps have experienced a rapid rise in popularity in recent years, in large part because they...more

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