The Consumer Financial Protection Bureau released its proposed rule to treat overdraft features for deposit accounts as credit, subject to the Truth in Lending Act (TILA) and its implementing rules, Regulation Z. The proposal...more
On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) released its long-awaited "Required Rulemaking on Personal Financial Data Rights" (Proposed Rule) for public comment. The Proposed Rule was issued under...more
10/26/2023
/ Compliance ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Consumers ,
Data Privacy ,
Enforcement ,
Fair Credit Reporting Act (FCRA) ,
Financial Institutions ,
FinTech ,
Gramm-Leach-Blilely Act ,
Liability ,
Open Banking ,
Proposed Rules ,
Shareholders
A reminder to non-bank financial institutions subject to the Gramm-Leach-Bliley Act (GLBA): the deadline to comply with the Federal Trade Commission's (FTC) revised Standards for Safeguarding Customer Information, commonly...more
5/19/2023
/ Compliance ,
Cybersecurity ,
Deadlines ,
Department of Education ,
Federal Trade Commission (FTC) ,
Financial Institutions ,
FTC Act ,
GLBA Privacy ,
Investment Adviser ,
Multi-Factor Authentication ,
New Rules ,
Popular ,
Risk Assessment ,
Safeguards Rule ,
Third-Party Risk
While many financial institutions have taken steps to provide far-reaching financial relief to consumers impacted by the COVID-19 pandemic, not all consumers will get such relief. ...more
Credit cards are central to the financial lives of most American consumers. Credit cards represent a key medium for U.S. consumer spending. In the first six months of 2015 alone, there were some 14.5 billion U.S. general...more
The Treasury Department recently issued a request for information to explore various aspects of “online marketplace lending.” The RFI seeks comment on a broad array of online financial services companies that lend not only to...more
8/7/2015
/ Banking Sector ,
Banks ,
Borrowers ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Dodd-Frank ,
Financial Institutions ,
Internet Marketing ,
Loans ,
Payment Systems ,
Regulatory Standards ,
Request For Information ,
Small Business ,
U.S. Treasury ,
Underwriting