News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Federal Pilot Programs

Morgan Lewis

Emerging Financial Crime Trends, Payment Fraud, and Risk Mitigation: How Banks Can Be Prepared

Morgan Lewis on

Consumers’ worldwide adoption of instant, contactless transactions has provided an opportunity for some to take advantage of loopholes and weaknesses in digital systems. Peer-to-peer (P2P) payments fraud, synthetic...more

Goodwin

CFPB Pilots Advisory Opinion Program to Address “Regulatory Uncertainty”

Goodwin on

On June 18, 2020, the Consumer Financial Protection Bureau (CFPB) announced the launch of its pilot advisory opinion (AO) program. The CFPB quickly followed this announcement by publishing a procedural rule implementing the...more

Hudson Cook, LLP

Clear Skies Ahead? CFPB Launches Pilot Advisory Opinion Program

Hudson Cook, LLP on

On June 22, the CFPB formally launched a pilot advisory opinion (AO) program (Pilot AO Program) that would allow entities seeking to comply with regulatory requirements to submit a request to the Bureau for an opinion where...more

BCLP

CFPB Rolls Out Pilot Program Offering Advisory Opinions

BCLP on

The devil is in the details. The best intentioned new financial services rules and regulations can present challenges for compliance folks trying to implement the rules into their institutions’ existing systems and...more

Morgan Lewis - All Things FinReg

CFPB Launches Pilot Advisory Opinion Program, Solicits Comment

On June 18, 2020, the Consumer Financial Protection Bureau (CFPB or Bureau) issued a procedural rule to launch a new pilot advisory opinion (AO) program to publicly address regulatory uncertainty in the Bureau’s existing...more

Ballard Spahr LLP

CFPB Launches Pilot Advisory Opinion Program

Ballard Spahr LLP on

Having announced earlier this year that it was implementing an advisory opinion (AO) program, the CFPB published a procedural rule in the Federal Register establishing a pilot AO program.  It also published a proposed...more

Nutter McClennen & Fish LLP

Nutter Bank Report: May 2019 

OCC Adopts Final Rule to Allow Federal Thrifts to Exercise National Bank Powers The OCC has issued a final rule that will allow federal savings associations with total consolidated assets of $20 billion or less as of...more

Ballard Spahr LLP

OCC wants its supervised financial institutions to play in a sandbox, too! But is it worth it?

Ballard Spahr LLP on

The Office of the Comptroller of the Currency (OCC) has opened its own “sandbox” through a Proposed Innovation Pilot Program (Program) designed to promote its innovation initiatives, add value through proactive supervision,...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - The CFPB Publishes Final Rule for Prepaid Accounts - On October 5, 2016, the Consumer Financial Protection Bureau (the "CFPB") finalized comprehensive consumer protections for...more

Carlton Fields

Prevailing in an Era of Regulatory Enforcement – Balancing Risk and Compliance [Expect Focus – Vol. II, July 2016]

Carlton Fields on

IN THE SPOTLIGHT - - SEC Sanctions Unregistered EB-5 Investments Broker SECURITIES - - FINRA to Assess Member Firms’ Culture - SEC Seeks Fund Responses to Distribution-In-Guise Guidance ...more

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