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CFPB Proposes Controversial Personal Financial Data Rights Rule

On October 19, the Consumer Financial Protection Bureau (the "CFPB") proposed the long-anticipated "Personal Financial Data Rights Rule" (the "Proposed Rule"), which would govern access for consumers and data aggregators to...more

OCC modernizes, adds flexibility to powers and procedures rules

The OCC recently finalized two broad updates to its regulations that increase flexibility for regulatory filings, including for corporate transactions such as business combinations, and update and clarify permissible...more

CFPB Seeks Comments on Highly Anticipated Consumer Access to Financial Information Rulemaking

The Bureau of Consumer Financial Protection (CFPB or Bureau) has formally commenced its long-awaited rulemaking process to implement section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank...more

OCC Finalizes True Lender Rule, Attempting to End Uncertainty around Bank-Fintech Partnership Models

The Office of the Comptroller of the Currency (OCC) issued a final rule that creates a bright-line test to determine when a national bank or federal savings association (bank) makes a loan and is the "true lender," including...more

The French and New York Financial Regulators Partner to Boost Cross-Border Fintech Cooperation

The New York Department of Financial Services ("NYDFS") and the French Autorité de Contrôle Prudentiel et de Résolution ("ACPR") signed a Memorandum of Understanding ("MOU") to position New York and France as innovation hubs...more

COVID-19 Response: US Financial Services Regulatory: U.S. State/Local (Updated April 24, 2020)

In response to the global COVID-19 crisis, US financial regulators at the state level are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US...more

COVID-19 Response: US financial services regulatory (Updated)

In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more

COVID-19 Response: US financial services regulatory

In response to the global COVID-19 crisis, US federal financial regulators are taking important actions that affect US and non-US financial institutions, other financial services providers, consumers, and the US and global...more

Congress Passes $2.2 Trillion COVID-19 Stimulus Bill

On Friday, March 27, 2020, the U.S. House of Representatives voted to approve the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) submitted by the Senate, and President Trump just signed the bill.The bill...more

Key Regulatory Developments Impacting the California Lending and Payments Space

The State of California is home to almost 40 million consumers and the world’s fifth largest economy. It represents a key exposure to most financial services companies’ US footprint. In recent years nonbank financial services...more

Federal Banking Agencies Open a Pathway to the Provision of Banking Services to Hemp-Related Businesses

On December 3, 2019, in a rare public statement regarding the provision of banking services to cannabis- or hemp-related businesses, the Federal Banking Agencies, including the Board of Governors of the Federal Reserve...more

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