Welcome to the “Overview: 2024 Lessons and 2025 Emerging Trends” chapter of our annual report, Consumer Financial Services: 2024 Year in Review.
As Goodwin predicted in our previous year in review, the enforcement and...more
3/17/2025
/ Artificial Intelligence ,
Biden Administration ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Repair Services ,
Credit Reports ,
Debt Collection ,
Enforcement Priorities ,
FDIC ,
Federal Trade Commission (FTC) ,
Financial Regulatory Reform ,
FinTech ,
Mortgage Servicing Rules ,
Peer-to-Peer ,
Popular ,
Regulatory Agenda ,
State Attorneys General ,
Trump Administration
Financial technology — or fintech — companies will continue to receive increased regulatory scrutiny in 2025. The latter half of 2024 saw a rise in regulatory guidance and enforcement activity relating to fintechs and the...more
3/14/2025
/ Anti-Money Laundering ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Department of Financial Protection and Innovation (DFPI) ,
Depository Institutions ,
EFTA ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Nonbank Firms ,
Regulatory Oversight ,
Regulatory Requirements
Welcome to the Fintech chapter of our annual report Consumer Financial Services 2023 Year in Review.
Looking Ahead to 2024 -
The CFPB is expected to finalize rulemaking authorizing supervision of payment application...more
2/16/2024
/ Apple Pay ,
Consumer Financial Products ,
Consumer Financial Protection Act (CFPA) ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Financial Protection and Innovation (DFPI) ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
GAO ,
Google ,
New Legislation ,
Nonbank Firms ,
OCC ,
Payday Loans ,
Payment Systems ,
PayPal ,
Regulation Z ,
Third-Party Relationships ,
Truth in Lending Act (TILA) ,
Venmo ,
Wages
2022 saw a flurry of regulatory activity by federal enforcement agencies — most notably, the Consumer Financial Protection Bureau (CFPB, or Bureau) — as the industry began to experience the full effects of the change in...more
2/22/2023
/ Automotive Loans ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Credit Cards ,
Credit Reports ,
Debt Collection ,
Financial Services Industry ,
FinTech ,
Mortgages ,
Payday Loans ,
Prepaid Payment Products ,
Privacy Laws ,
Student Loans
[co-authors: Amelie Hopkins, and Collin Grier]
The year 2021 started with the hope of COVID-19 vaccines and a return to (relative) normalcy, only to conclude with new variants that presented new challenges and extended...more
2/23/2022
/ AMG Capital Management LLC v FTC ,
Automotive Loans ,
Banking Sector ,
Borrowers ,
Collins v Yellin ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Act ,
Credit Reporting Agencies ,
Credit Reports ,
Creditors ,
Debit and Credit Card Transactions ,
Debt Collection ,
Debtors ,
Dodd-Frank ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Lenders ,
Loan Servicing ,
Mortgage Loan Originators ,
Mortgage Servicers ,
Payday Loans ,
Prepaid Payment Products ,
SCOTUS ,
Settlement ,
Small Dollar Lenders ,
Student Loans ,
TCPA ,
TransUnion LLC v Ramirez
Three California laws that affect fintech companies will go into effect on January 1, 2021. The California Consumer Financial Protection Law (CCFPL) expands the scope of the Department of Business Oversight’s (DBO) current...more
11/20/2020
/ Banking Sector ,
California Consumer Financial Protection Law (CCFPL) ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Department of Business Oversight ,
Department of Financial Protection and Innovation (DFPI) ,
Depository Institutions ,
Enforcement Actions ,
Financial Services Industry ,
FinTech ,
Popular ,
Private Right of Action ,
Registration Requirement ,
Regulatory Requirements ,
Student Loans