The Consumer Financial Protection Bureau (CFPB) has issued a new rule addressing its supervision of large nonbank companies offering US consumers certain digital funds transfer services and payment wallets and apps....more
Section 1024 of the Dodd-Frank Act of 2010 authorizes the Consumer Financial Protection Bureau (CFPB) to define markets for consumer financial products and services and supervise the larger participants within those markets...more
The CFPB has issued a final rule to supervise large nonbank financial services providers that offer general-use digital consumer payment applications such as digital wallets and peer-to-peer payment apps....more
El Ministerio de Hacienda y Crédito Público de la República de Colombia, a través de la Unidad de Regulación Financiera, publicó un proyecto de decreto con el cual se busca implementar una normativa para fortalecer la...more
Electronic identification and trust services (eIDAS) refer to a range of services that include verifying the identity of individuals and businesses online and verifying the authenticity of electronic documents. Since 2014,...more
In this article, we share a timeline of our monthly "bites" for 2023 applicable to fintech. The Consumer Financial Protection Bureau (CFPB) and its director, Rohit Chopra, continued the agency's focus on the everyday consumer...more
The Blockchain Bi-Weekly presented by the Polsinelli Blockchain+ team is a rundown of some of the key stories in the Web3, blockchain and crypto ecosystems curated by our attorneys navigating the intersections of code, smart...more
On November 7, 2023, the Consumer Finance Protection Bureau (“CFPB”) proposed a new rule that calls for federal regulatory oversight of large nonbank companies that offer digital wallets and payment apps to consumers. The...more
In recent years, demands for payments in cryptocurrencies have become the ransom of choice for cyber extortionists and other online frauds. The COVID-19 pandemic and resulting public health lockdowns precipitated an...more
After the attacks on JBS and Colonial Pipeline, the U.S. Treasury Department will likely consider increasing its enforcement of anti-money-laundering laws and adopt new reporting requirements for cryptocurrency transactions....more
The New York Department of Financial Services (NYDFS) recently surprised financial services’ compliance and legal professionals by announcing the creation of a “Consumer Protection and Financial Enforcement Division.”...more