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Federal Banking Agencies Highlight Bank-Fintech Partnership Risks and Invite Comment

On July 25, 2024, the federal banking agencies issued a joint statement flagging potential risks in bank-fintech arrangements, along with a request for public information (RFI) on the benefits, risks, and risk management...more

The CFPB Targets FinTechs and Other Nonbanks for Supervision and Examination

The Consumer Finance Protection Bureau ("CFPB") announced that it will examine nonbank financial companies that pose risks to consumers, using statutory authority that until now had gone unused. Additional examinations would...more

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