News & Analysis as of

Data Collection FinTech

Orrick, Herrington & Sutcliffe LLP

District court allows fintech association to intervene in stayed case

On May 14, the U.S. District Court for the Eastern District of Kentucky granted a fintech trade organization’s motion to intervene in a case involving a bank plaintiff who sued the CFPB. The court ruled that the association...more

A&O Shearman

ESMA report on the quality and use of data

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The European Securities and Markets Authority (ESMA) has published its 2024 report, along with a press release, on the quality and use of data, showcasing significant increase in data use by authorities. The report covers...more

Blake, Cassels & Graydon LLP

Pratiques exemplaires liées à la vérification numérique de l’identité dans le secteur canadien des services financiers

De nombreuses entreprises de services financiers sont tenues en vertu de lois et de règlements de vérifier l’identité de leurs clients. Il existe des outils technologiques novateurs qui simplifient le processus de...more

Thomas Fox - Compliance Evangelist

Innovations in Compliance: Data Collection & Cybersecurity with ModeOne’s Matt Rasmussen and Ryan Frye

Innovation comes in many areas, and compliance professionals need to be ready for it and embrace it. Join Tom Fox, the Voice of Compliance, as he visits with top innovative minds, thinkers, and creators in the award-winning...more

Venable LLP

CFPB Seeks Public Input on Privacy and Data Practices in Consumer Finance

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The Consumer Financial Protection Bureau (CFPB) issued a Request for Information (RFI) to gather insights on how companies offering financial products and services collect, use, and monetize consumer payment and personal...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – January 2025 # 2

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Troutman Pepper Locke

CFPB Releases Report Highlighting Consumer Use of Buy Now, Pay Later Products

Troutman Pepper Locke on

On January 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a report providing its analysis of the growth and impact of Buy Now, Pay Later (BNPL) loans in the United States since 2019. BNPL loans,...more

Troutman Pepper Locke

CFPB Approves Financial Data Exchange as Open Banking Standard Setter

Troutman Pepper Locke on

On January 8, the Consumer Financial Protection Bureau (CFPB) officially recognized Financial Data Exchange, Inc. (FDX) as the first standard-setting body under the Personal Financial Data Rights promulgated rule under...more

A&O Shearman

FCA Financial Promotions Quarterly Data 2024 Q3

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The U.K. Financial Conduct Authority has published its financial promotions quarterly data for Q3 2024. The FCA summarizes the data collected between July 1 and September 30, 2024 and the action it took against firms...more

Skadden, Arps, Slate, Meagher & Flom LLP

CPPA’s First Enforcement Advisory Focuses on Applying Data Minimization Principles to Consumer Requests

On April 2, 2024, the Enforcement Division of the California Privacy Protection Agency (CPPA) issued Enforcement Advisory No. 2024-01. This first-ever enforcement advisory focuses on promoting compliance with California...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 22: Data Sharing and the 1033 Rule: An Industry Perspective with Ramon Gomez

Ramon Gomez — Managing Director, Regulatory Affairs at JPMorgan Chase — joins RegFi cohosts Jerry Buckley and Sasha Leonhardt for a conversation about Section 1033 of the Dodd-Frank Act and its implications for consumer data...more

Wilson Sonsini Goodrich & Rosati

U.S. Privacy Predictions: What to Watch for in 2024

2023 was one of the busiest years for privacy yet—with more to come in 2024. Five new U.S. state privacy laws (in Texas, Florida, Oregon, Montana, and Washington) will come into effect in 2024. And federal and state...more

Morrison & Foerster LLP

Top 5 SEC Developments (October 2023)

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Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month we examine: • Fraud and internal control failure charges against...more

Nelson Mullins Riley & Scarborough LLP

[Webinar] FinTech University: FinTech and E-Discovery - January 10th, 2:00 pm - 3:00 pm EDT

Join us for the next edition of FinTech University as we focus on FinTech and E-Discovery. This webinar will discuss the basics of e-discovery with a focus on unique issues that many FinTech companies encounter. Experienced...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights, Volume 3, Issue 5

The Cryptocurrency Revolution and President Biden's Formal Recognition - Out of the ashes of the 2008 financial crisis, Bitcoin sprang up like an insurgency, targeting both the unbridled activity of large financial...more

Eversheds Sutherland (US) LLP

Focus on Fintech: CFPB Probes Big Tech Plans for Payments

On October 21, 2021, the CFPB sent orders to Amazon, Apple, Facebook, Google, PayPal, and Square requiring them to provide information about their current and planned payments products, practices, and data collection and...more

Wilson Sonsini Goodrich & Rosati

Fintech and Financial Privacy: Regulatory Developments on the Use of Financial Data

So you're a fintech startup, buying a fintech company, or expanding the technical capabilities of your financial business. Or you're a tech company that is getting into the payments space. Where do you start when it comes to...more

Morrison & Foerster LLP

Financial Services Report - Winter 2021

Morrison & Foerster LLP on

Welcome to the Financial Services Report, holiday style! Banks and non-banks alike started early this year with additions and changes to their regulator stockings. The Senate confirmed Rohit Chopra as the new CFPB Director....more

Sheppard Mullin Richter & Hampton LLP

CFPB to Tech Companies: Submit Payment System Information

Last week, the CFPB issued a series of orders to collect information on the business practices of six large technology companies operating payments systems. The Bureau claims that the information will help better understand...more

Proskauer - New Media & Technology

Settlement in Plaid Fintech Data Case

On August 5, 2021, a proposed class action settlement was reached in the closely-watched privacy action against fintech services company Plaid Inc. (“Plaid”).  The settlement features a $58 million settlement fund and certain...more

Proskauer - New Media & Technology

Plaid Federal Electronic Surveillance Claims Dropped, Privacy Claims Survive

On April 30, 2021 a California district court trimmed various federal privacy-related claims, including the Computer Fraud and Abuse Act (CFAA) claim, from a highly-visible, ongoing putative class action against fintech...more

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights, Volume 2, Issue 6

Binance Probed by CFTC Over Whether U.S. Residents Traded - "Binance, which has an office in Singapore but says it lacks a single corporate headquarters, hasn’t been accused of misconduct and the investigation may not lead...more

Hogan Lovells

Financial institutions general regulatory news, March 2021

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UK FinTech: Kalifa Review final report - HM Treasury has published the final report on the review of the UK FinTech sector by Ron Kalifa OBE (the Kalifa Review). The Kalifa Review formally launched in July 2020 with...more

Robins Kaplan LLP

Financial Daily Dose 3.1.2021 | Top Story: Walmart Poaches Goldman Bankers in Bid to Bolster Fintech Venture

Robins Kaplan LLP on

Walmart’s recent move to hire away a “pair of senior Goldman Sachs bankers” to head up the retailer’s new fintech startup (a collaboration with Ribbit Capital) has tongues wagging about the company’s ambitions to shove its...more

ArentFox Schiff

New Federal Regulation of Financial Data: CFPB Issues Long-Awaited Notice of Proposed Rulemaking

ArentFox Schiff on

The Consumer Financial Protection Bureau (Bureau or CFPB) has recently issued a formal proposal for a national regulatory standard governing companies’ handling of consumer data and their privacy rights with respect to...more

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