News & Analysis as of

Data Privacy Regulatory Requirements Consumer Financial Protection Bureau (CFPB)

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

Troutman Pepper Locke

The Next FCRA Frontier: Identity Theft and CFPB Updates — FCRA Focus Podcast

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In this episode of FCRA Focus, hosts Kim Phan and Dave Gettings bring you the latest updates from the regulatory and litigation sides of the house. Dave shares his insights on the challenges and litigation surrounding...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 23, 2025)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and at the state level. CFPB activity continues to be...more

Wiley Rein LLP

Wiley Consumer Protection Download (April 9, 2025)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB), Federal Trade Commission (FTC), and at the state level. CFPB activity continues to be...more

Wiley Rein LLP

March Privacy Forecast: New Data Broker Laws and Regulations

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This week in our March Privacy Forecast, we discuss a growing trend at both the federal and the state level – new laws and regulations that specifically target data brokers. At the federal level, two new legal frameworks...more

Goodwin

2024 Year in Review: Data Privacy and Cybersecurity

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Welcome to the “Data Privacy and Cybersecurity” chapter of our annual report, Consumer Financial Services: 2024 Year in Review. Consumer financial services regulators are taking a keen interest in artificial intelligence...more

Goodwin

2024 Year in Review: Fintech

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Financial technology — or fintech — companies will continue to receive increased regulatory scrutiny in 2025. The latter half of 2024 saw a rise in regulatory guidance and enforcement activity relating to fintechs and the...more

Ballard Spahr LLP

CFPB extends comment period for data broker NPRM

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The CFPB has extended the comment period for its Notice of Proposed Rulemaking on data brokers until April 2, 2025; the comment period had been slated to expire on March 3, 2025....more

Husch Blackwell LLP

Eastern District of Kentucky Tolls Compliance Deadlines for § 1033 of the Dodd-Frank Act

Husch Blackwell LLP on

On February 25, 2025, Judge Danny C. Reeves of the Eastern District of Kentucky granted a Joint Motion to Stay Proceedings in Forcht Bank, NA et al v. Consumer Financial Protection Bureau et al, temporarily staying litigation...more

Clark Hill PLC

What Debt Settlement Companies Need to Know When Working With Third Party Payment Processors (Whitepaper)

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Clark Hill’s Financial Services and Regulatory Compliance Group has authored a whitepaper for debt settlement companies considering engaging a third-party payment processor for managing accounts and handling financial...more

Clark Hill PLC

CFPB Approves FDX Application With Conditions to Foster Transparency and Open Banking

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The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange’s (FDX) application to serve as a standard-setting body under the final rule for Personal Financial Data Rights, (“open banking”)...more

Katten Muchin Rosenman LLP

Privacy, Data and Cybersecurity Quick Clicks | Issue 25

Katten's Privacy, Data and Cybersecurity Quick Clicks is a monthly newsletter highlighting the latest news and legal developments involving privacy, data and cybersecurity issues across the globe....more

Troutman Pepper Locke

CFPB Highlights Fair Lending Risks in Advanced Credit Scoring Models

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more

K&L Gates LLP

What the Future May Hold for the Consumer Financial Protection Bureau's Open Banking Rule

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Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress and incoming presidential administration? Two upcoming proceedings may hold the answer....more

K&L Gates LLP

Complying With the New "Open Banking" Regime: Primer and Fact Sheet

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The Consumer Financial Protection Bureau (CFPB) finalized its “open banking” rule in late 2024. As required by Section 1033 of the Consumer Financial Protection Act, the CFPB promulgated the rule to require certain financial...more

Alston & Bird

CFPB Approves Financial Data Exchange to Set Standards for 1033

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What Happened? Last week the CFPB issued an Order recognizing the Financial Data Exchange, Inc. (“FDX”) as the first standard setting body (“SSO”) under the CFPB’s Personal Financial Data Rights Rule (the “Rule”).  The Rule...more

Morrison & Foerster LLP

Open Banking Update: CFPB Recognizes First Open Banking Standard-Setting Body

On January 8, 2025, the Consumer Financial Protection Bureau (CFPB) issued a decision and order approving the application of Financial Data Exchange, Inc. (FDX) for recognition as a standard-setting body (SSB) under the...more

Husch Blackwell LLP

Mark Your Calendars: 2025 Compliance Dates for Key Consumer and Small Business Financial Services Regulations

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One of the primary challenges with working in the U.S. financial services space is keeping up with the ever-changing federal and state regulatory landscape. Juggling the day-to-day fire drills while staying atop of regulatory...more

Ballard Spahr LLP

CFPB issues medical debt rule; regulation immediately challenged in federal court

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The CFPB has issued its  final rule that will prohibit the inclusion of medical debts in credit reports lenders use to make credit decisions and that will also generally prohibit lenders from using medical debt information in...more

Troutman Pepper Locke

CFPB Approves Financial Data Exchange as Open Banking Standard Setter

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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

McGlinchey Stafford

[Webinar] Deep Dives Presents: Open Banking - January 15th, 10:00 am PT

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Join McGlinchey’s Deep Dives series for an in-depth exploration of open banking, a transformative trend reshaping financial services. This webinar will discuss the opportunities, challenges, and regulatory considerations of...more

Bradley Arant Boult Cummings LLP

CFPB’s Successor Homeowner Issue Spotlight: The Other Side of the Story

On December 17, 2024, amid a flurry of activity by the Consumer Financial Protection Bureau (CFPB), the agency released an Issue Spotlight discussing “problems with mortgage companies” that homeowners face “after divorce or...more

Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Hudson Cook, LLP

Mo Data, Mo Problems: Data Protection and Privacy Concerns for the Gaming Industry

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The Consumer Financial Protection Bureau's (CFPB) eyes are on the gaming industry and the potential harm consumers may suffer from data security and privacy concerns....more

Robinson+Cole Data Privacy + Security Insider

White House to Host Meeting on Data Brokering Industry as CFPB Promises New Regulations

The White House hosted a roundtable meeting Tuesday on the data brokering industry as a part of an administration-wide push toward strengthening America’s consumer privacy landscape. The meeting brought together researchers,...more

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