News & Analysis as of

Customers Financial Services Industry

Lewis Roca

Legal Issues, Problems, and Unanswered Questions Regarding a State’s Ability and Potential Departure from the Depository...

Lewis Roca on

In 1980, Congress passed Public Law 96-221, called the Depository Institutions Deregulation and Monetary Control Act (“DIDMCA”), which, in part, allowed federally insured state banks, state credit unions, and state savings...more

Ballard Spahr LLP

Zelle offers details on its solution to protect scammed customers

Ballard Spahr LLP on

Last year, we blogged that Zelle was considering possible solutions for P2P customers on the Zelle Network who were the victims of scams. In an August 30, 2023 press release, Zelle announced that it was initiating new safety...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Adopts a New Consumer Duty: Key Implications for Financial Services Firms

The UK’s Financial Conduct Authority (FCA) published final guidance (FG22/5) and a policy statement (PS22/9) for the new consumer duty (Duty) on 27 July 2022. The main rules will come into force on 31 July 2023 for existing...more

Hogan Lovells

Welcome 2022 – a year of tensions in the retail banking and payments space

Hogan Lovells on

It will come as no surprise that the two major regulatory developments we expect to dominate this year with gathering pace are the forthcoming consumer duty and ESG. Both have been a long time coming – indeed the FCA has been...more

UB Greensfelder LLP

FINRA Is Bearish On FinTech (For Now) With Its Record Fine Against Robinhood

UB Greensfelder LLP on

There’s no question that FinTech firms are on the rise, and attempting to revolutionize the financial services space for the better. One such FinTech firm is none other than the notorious Robinhood. A technology company at...more

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