News & Analysis as of

Final Rules Supervision Consumer Financial Protection Bureau (CFPB)

Venable LLP

CFPB Expands Oversight: Finalizes New Rule Targeting Big Players in Digital Payments

Venable LLP on

On November 21, the Consumer Financial Protection Bureau (CFPB) finalized a rule to supervise nonbank companies that offer digital wallets and payment apps. The rule allows the CFPB to supervise and examine nonbank companies...more

Holland & Knight LLP

CFPB Finalizes New Federal Supervision of Certain Providers of Digital Wallets, Payment Apps

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) on Nov. 21, 2024, issued a final rule to supervise larger nonbank companies that offer "general-use digital consumer payment applications" such as digital wallets, payment apps...more

Goodwin

CFPB Revises Supervisory Appeals Process

Goodwin on

On February 16, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it is updating its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2023

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more

Goodwin

FDIC Publishes Consumer Compliance Supervisory Highlights

Goodwin on

Regulatory Developments - FDIC Publishes Consumer Compliance Supervisory Highlights - On April 5, the FDIC published its latest edition of Consumer Compliance Supervisory Highlights (the Highlights). This edition of...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2020

Federal Banking Agencies Issue New Guidance on Managing the LIBOR Transition - The member agencies of the Federal Financial Institutions Examination Council (“FFIEC”) have issued joint guidance for banking organizations...more

Goodwin

SEC Charges Trust Company With Operating Unregistered Investment Companies

Goodwin on

SEC Charges Trust Company with Operating Unregistered Investment Companies and Failing to Register Securities Offerings. On September 30, the Securities and Exchange Commission (SEC) announced it had settled charges with...more

Baker Donelson

UPDATE: CFPB Publishes Rule Authorizing it to Supervise Auto Finance Companies

Baker Donelson on

On June 10, 2015, the CFPB published a new regulation that has been dreaded by the auto finance industry for more than a year. Following up on the rule it proposed in June 2014, the CFPB published a final rule on June 10,...more

WilmerHale

CFPB Finalizes Automobile Finance Larger Participant Rule and Publishes Examination Procedures

WilmerHale on

On June 10, 2015, the Consumer Financial Protection Bureau (CFPB) announced a final rule that will allow it to supervise larger nonbank automobile finance companies. Accompanying the rule, it also published the procedures...more

Ballard Spahr LLP

CFPB finalizes rule to supervise nonbank auto finance companies and releases auto finance examination procedures for banks and...

Ballard Spahr LLP on

The CFPB issued a final rule on June 10, 2015 allowing it to supervise nonbank companies that qualify as “larger participants of a market for automobile financing.” Relatedly, it adopted simultaneously a separate rule...more

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