The expansive final rule overhauls how banks are evaluated for lending to low- and moderate-income customers.
The federal banking regulators issued a joint final rule that will govern Community Reinvestment Act (CRA)...more
On September 29, 2022, the U.S. government took an important step in its efforts to increase transparency, combat shell companies, and limit abuse of entities and trusts formed under U.S. state law. The U.S. Treasury...more
Businesses connected to digital assets in any way have an opportunity to influence public policy if they submit comments by July 5, 2022.
On May 19, 2022, the U.S. Department of Commerce’s International Trade...more
5/25/2022
/ Biden Administration ,
Blockchain ,
Central Bank Digital Currency (CBDCs) ,
Comment Period ,
Competition ,
Digital Assets ,
Digital Currency ,
Executive Orders ,
Financial Institutions ,
International Trade ,
Non-Fungible Tokens (NFTs)
As CFPB Director, Rohit Chopra will vigorously apply the CFPB’s authority to promulgate rules, conduct examinations, and bring enforcement actions.
CFPB Acting Director Uejio has laid the groundwork for Director Chopra to...more
10/4/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Data Collection ,
Dodd-Frank ,
ECOA ,
Enforcement ,
Federal Trade Commission (FTC) ,
Senate Confirmation Hearings ,
Small Business Loans ,
Small Dollar Lenders ,
UDAAP
In what is either one of the more ironic acts in a year full of irony or one of the more expressive power moves of the Texas legislative session, Gov. Greg Abbott announced on one social media platform that people can watch a...more
As we’ve discussed in this space previously, the effect of AI bias, especially in connection with facial recognition, is a growing problem. The most recent example—users discovered that the Twitter photo algorithm that...more
I am not at all embarrassed to admit that I love working in my pajamas. A lot of us are working from home now to help flatten the curve, and while social distancing has created a lot of challenges for most people, one of the...more
Legislators and agency leaders urge bankers to minimize adverse financial impacts on consumers affected by COVID-19 pandemic and ensure business continuity.
- Federal financial regulators have recommended through a joint...more
Information collected in employment or business-to-business contexts is exempt for one year.
For the first year it is in effect, the CCPA will not apply to personal information collected about employees or in B2B...more
10/15/2019
/ Amended Legislation ,
B2B Organizations ,
B2B Transactions ,
California Consumer Privacy Act (CCPA) ,
Consumer Privacy Rights ,
Data Collection ,
Duty to Delete ,
Employee Rights ,
Exemptions ,
Fair Credit Reporting Act (FCRA) ,
Governor Newsom ,
Motor Vehicles ,
Personal Information
In case you don’t know, William Gibson is the prescient science fiction author who effectively coined the terms “the matrix” and “cyberspace” as we currently use them, way back in the early 1980s. He also predicted augmented...more
On July 23, 2019, the New York Department of Financial Services announced creation of a Research and Innovation Division to keep pace with FinTech advances.
NYDFS Research and Innovation Division created to keep pace with...more
8/5/2019
/ Administrative Agencies ,
Banking Sector ,
BitLicense ,
Consumer Watchdog ,
Cybersecurity ,
Financial Services Industry ,
FinTech ,
NYDFS ,
Popular ,
Regulatory Agencies ,
Virtual Currency
Protecting consumer data privacy in the age of artificial intelligence and increased digital commerce is a growing concern. In June 2018, the California Consumer Privacy Act (CCPA) introduced provisions to protect consumers...more
South Carolina Anti-Money Laundering Act becomes effective May 25, 2018. Applications must be filed by June 29, 2018.
Implementing regulations become effective May 25, 2018. ...more