Following the trend of federal agency interest in fostering (and potentially regulating) innovation in the field of financial technology (FinTech), the Office of the Comptroller of the Currency (OCC) released the white paper...more
The Federal Trade Commission (FTC) has announced an enforcement action against Lord & Taylor, a retail department store, for allegedly deceiving consumers by not disclosing paid endorsements and promotions during a social...more
The Americans with Disabilities Act (ADA) applies to certain entities providing goods and services to the public. In the context of interactions with the public, mortgage lenders have obligations to ensure that information...more
The Consumer Financial Protection Bureau (CFPB) has announced its first data security enforcement action. Since the 1990s, the Federal Trade Commission (FTC) has primarily taken on the role as the de facto federal regulator...more
As consumers increasingly turn to mobile devices to pay their bills, shop online, and order rides and other services, a number of legal and practical questions emerge. Who regulates mobile financial services offered by...more
The Financial Crimes Enforcement Network (FinCEN) announced its first enforcement action against a small “card club” gaming establishment imposing a civil penalty of $650,000. The enforcement action, announced December 17,...more
The Federal Trade Commission (FTC) recently issued an enforcement policy statement on deceptively formatted advertisements, which explains how it applies established consumer protection principles to different advertising...more
The FTC has announced enforcement actions against two app developers that allegedly violated the Children’s Online Privacy Protection Act (COPPA) by using persistent identifiers to serve advertising to children. The...more
The New York Department of Financial Services (DFS) has proposed new regulations setting forth minimum standards for anti-money laundering (AML) transaction monitoring and filtering systems. The regulations, proposed December...more
The U.S. Department of Justice (DOJ) has published its Fall 2015 Statement of Regulatory Priorities and announced that its much-anticipated rulemaking on web accessibility under the Americans with Disabilities Act (ADA) will...more
The CFPB recently released a report regarding the use of Mobile Financial Services by underserved populations, including low-income, unbanked, underbanked, and economically vulnerable consumers. The report does not contain...more
The New York Department of Financial Services (NYDFS) has distributed a letter to various federal and state regulatory agencies and associations proposing the development of new cybersecurity regulations for financial...more
The Federal Communications Commission (FCC) recently issued citations to two companies charged with violating the Telephone Consumer Protection Act (TCPA) consent requirements for autodialed or prerecorded calls to wireless...more
9/21/2015
/ Apple Pay ,
Banking Sector ,
Banks ,
Cell Phones ,
Class Action ,
Disclosure Requirements ,
FCC ,
Online Banking ,
Opt-Outs ,
Prior Express Consent ,
Right to Privacy ,
Robocalling ,
Smartphones ,
TCPA ,
Telecommunications ,
Telemarketing
As previously reported, the Federal Communications Commission recently approved a Declaratory Ruling and Order (the Order) addressing a number of petitions that requested the FCC clarify its interpretations of the Telephone...more
7/14/2015
/ Auto-Dialed Calls ,
Collection Agencies ,
Debt Collection ,
Declaratory Rulings ,
Exemptions ,
FCC ,
Financial Institutions ,
Healthcare ,
Prior Express Consent ,
Revocation ,
TCPA ,
Telemarketing ,
Text Messages
The CFPB has released a list of nine “Consumer Protection Principles” that are intended to express the CFPB’s “vision of consumer protection in new faster payments systems.” The CFPB has previously shown support for the...more
The Federal Financial Institutions Examination Council (FFIEC) has released its long-awaited Cybersecurity Assessment Tool (Assessment) to help financial institutions identify the inherent risks faced by a company and...more
The Federal Trade Commission (FTC) recently proposed amendments to its Gramm-Leach-Bliley Act (GLBA) rules requiring motor vehicle dealers to send their customers an annual privacy notice. The amendments would allow motor...more
6/23/2015
/ Automotive Industry ,
Car Dealerships ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Federal Trade Commission (FTC) ,
Gramm-Leach-Blilely Act ,
Notice Requirements ,
Privacy Policy ,
Proposed Amendments ,
Rulemaking Process ,
Websites