Latest Publications

Share:

What’s in Your (Crypto) Wallet? Trump’s Executive Order on Digital Financial Technology

Last week, President Trump issued an executive order, titled “Strengthening American Leadership in Digital Financial Technology” (EO), establishing the administration’s policy to promote digital asset technologies and the...more

CFPB Proposes Rule To Expand Regulation E to Crypto and Gaming Accounts

With 10 days left in the Biden administration, the Consumer Financial Protection Bureau (CFPB) proposed a new interpretive rule on the applicability of the Electronic Fund Transfer Act (EFTA) and Regulation E to “new and...more

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

FTC Finalizes “Click To Cancel” Rule With Substantial Requirements for Recurring Subscription Programs

The Federal Trade Commission (FTC) announced its final Negative Option Rule (the Rule)—which the FTC often refers to as the “Click to Cancel” rule—for automatically renewing subscriptions, free trials that convert to paid...more

CFPB Issues New Report Examining Financial and Privacy Risks to Consumers in Video Gaming Marketplaces: What Now?

On April 4, 2024, the Consumer Financial Protection Bureau (CFPB) issued a new report, titled “Banking in Video Games and Virtual Worlds” (Report), that examines the growth of financial transactions in online video games and...more

California DFPI Orders Consumer Financing Platform To Cease Hidden Junk Fees

On January 9, the California Department of Financial Protection and Innovation (DFPI) issued an order against a consumer financing platform that enables merchants to offer installment contracts to their customers. The...more

N.Y. Governor Proposes Measures To Ensure Fairness in “Buy Now Pay Later” Services

On January 2, New York Governor Kathy Hochul announced a proposal to establish regulations for the “Buy Now Pay Later” (BNPL) loan industry. Gov. Hochul announced that she will propose legislation to require BNPL providers...more

Corporate Transparency Act Will Require Disclosure of Senior Officers and Directors of Many US and Foreign Companies

The Corporate Transparency Act (CTA) became law on January 1, 2021, and requires companies formed and/or operating in the United States to disclose beneficial ownership information through a database that will be maintained...more

CFPB Proposes Federal Oversight of Digital Wallet and Payment App Providers

The Consumer Financial Protection Bureau (CFPB) published a proposed rule on November 7, 2023, that, if finalized, would subject to its supervisory authority certain Big Tech firms and other nonbank companies operating in the...more

Fintech Legal Report - January 2023

CFPB Seeks Public Input on Consumer Credit Card Market - On January 24, the Consumer Financial Protection Bureau (CFPB) issued a request for information seeking public feedback on how the consumer credit market is...more

Fintech Legal Report - December 2022

New Treasury Report Shows Fintech Industry Requires Additional Oversight To Close Gaps, Prevent Abuses, and Protect Consumers - On November 16, 2022, the U.S. Department of the Treasury (USDT), in consultation with the...more

Fintech Legal Report - November 2022

FTC Action Against Internet Phone Service Provider Results in $100 Million to Customers Trapped by Illegal Dark Patterns and Junk Fees When Trying To Cancel Service - On November 3, 2022, the Federal Trade Commission (FTC)...more

Fintech Legal Report - October 2022 #2

Consumer Protection Agencies Target Junk Fees and Dark Patterns for Enforcement Action and Rulemaking - The Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) are cracking down on the...more

Fintech Legal Report - October 2022

FTC explains that merchants using BNPL services are also subject to consumer protection obligations. CFPB ends its no-action letter and compliance sandbox policies. CFPB sues an online lender for Military Lending Act...more

Fintech Legal Report - September 2022

OCC Warns About Fintech-Bank Partnership Risks - On September 7, 2022, speaking before conferencegoers at the TCH + BPI Annual Conference in New York, Acting Comptroller of the Currency Michael J. Hsu explained why he thinks...more

Fintech Legal Report - August 2022

CFPB Warns Firms on Information Security Weaknesses - On August 11, 2022, the Consumer Financial Protection Bureau (CFPB) released a circular confirming that financial companies can violate consumer financial protection...more

Fintech Legal Report - July 2022 #2

Dem Senators Urge CFPB Focus on P2P Payment Platforms - A group of Democratic U.S. senators sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to take a harder look at peer-to-peer (P2P)...more

Fintech Legal Report - July 2022

The CFPB terminates a no-action letter with an AI credit underwriter. A CFPB circular confirms that AI underwriting models are subject to anti-discrimination laws including adverse action notices....more

Fintech Legal Report - May 2022

CFPB Director Chopra Plans to Review CARD Act Rules - The day after a tough hearing with the Senate Banking Committee, on April 27, 2022, the House Financial Services Committee held a hearing in which Consumer Financial...more

Fintech Legal Report - February 2022 #2

CA DFPI Issues Interpretive Opinion on Earned Wage Access - On February 11, 2022, the California Department of Financial Protection and Innovation (DFPI) issued an interpretive opinion letter that FlexWage, a New...more

Fintech Legal Report - February 2022

CFPB Requests Info on Consumer Financial Products or Service Fees - On January 26, 2022, the Consumer Financial Protection Bureau (CFPB) announced the launch of an initiative to collect information from consumers,...more

Fintech Legal Report - January 2022

CFPB Shutters LendUp - On December 21, 2021, the Consumer Financial Protection Bureau (CFPB) issued a press release stating that the online lender, LendUp Loans (LendUp), headquartered in Oakland, California, has agreed to...more

Fintech Legal Report - November 2021 #2

Data Aggregators Launch Open Finance Data Security Standard - A group of data aggregator fintechs and security and compliance companies recently released a new data security standard for the open finance industry – the...more

Fintech Legal Report - November 2021

Bank Regulator Outlines Vision for Bank-Like Supervisory Regime for Crypto and Fintech Firms - On November 3, 2021, Acting Comptroller of the Currency Michael J. Hsu discussed clarifying and modernizing the bank...more

60 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide