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
Senators Inquire about CFPB’s Fintech Agenda -
On July 27, 2021, Senator Sherrod Brown, the Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, sent a letter to the Consumer Financial Protection...more
9/2/2021
/ Banking Sector ,
Big Tech ,
Blockchain ,
Bureau of Industry and Security (BIS) ,
China ,
Consumer Financial Protection Bureau (CFPB) ,
Digital Assets ,
EU ,
Federal Trade Commission (FTC) ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
FinTech ,
Guidance Update ,
OCC ,
Office of Foreign Assets Control (OFAC) ,
Popular ,
Risk Management ,
SDN List ,
Securities and Exchange Commission (SEC) ,
Settlement
U.S. Developments -
Money Laundering in Bitcoin . . . is Still Money Laundering -
On April 17, 2020, the U.S. Court of Appeals for the Ninth Circuit, affirmed a conviction on five counts of money laundering where the...more
U.S. Developments -
Enforcement and Litigation Developments -
Craig Wright Faces Sanctions -
Craig Wright, the self-proclaimed inventor of Bitcoin, has been tied up in litigation since February 2018 related to his...more
9/10/2019
/ Anti-Money Laundering ,
Bitcoin ,
Chase Bank ,
China ,
Class Action ,
Contract Terms ,
Criminal Prosecution ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Currency ,
Discovery ,
Drug Trafficking ,
European Central Bank ,
FATF ,
Felonies ,
Financial Industry Regulatory Authority (FINRA) ,
Guilty Pleas ,
Motion to Compel ,
Partnerships ,
Popular ,
Sanctions ,
Truth in Lending Act (TILA) ,
Value-Added Tax (VAT)
FATF Issues Virtual Currency Guidance -
On October 19, the Financial Action Task Force (“FATF”) published the outcomes of its Plenary meeting. Included in the outcomes of the meeting were new recommendations related to the...more
11/2/2018
/ American Arbitration Association ,
AML/CFT ,
Anti-Money Laundering ,
Blockchain ,
China ,
Coinbase ,
Commodity Exchange Act (CEA) ,
Cryptocurrency ,
FATF ,
FCC ,
Japan ,
Market Manipulation ,
NYDFS ,
Popular ,
Securities and Exchange Commission (SEC) ,
South Korea ,
Virtual Currency