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Ballard Spahr LLP

CFPB issues proposal to supervise nonbank providers of digital wallets and payment apps

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The CFPB has issued a proposed rule to supervise nonbank companies that qualify as larger participants in a market for “general-use digital consumer payment applications.”  Comments on the proposal are due by January 8, 2024...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the financial services community, Volume 9, Issue 1

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Linking to ETFs vs. Linking to Indices - A person studying structured products issuances for the first time might think he is having a case of double vision. On the one hand, there are a variety of products linked to...more

Ballard Spahr LLP

CFPB proposes further changes to the Prepaid Account Rule in response to industry feedback

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As we previewed earlier this year, the CFPB, on June 15, proposed substantive changes to the Prepaid Final Rule (the “Rule”). The proposed changes are generally positive for prepaid providers and incorporate feedback and...more

Carlton Fields

SEC Adopts T+2 Securities Settlement Cycle

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On March 22, the Securities and Exchange Commission (“Commission”) adopted a rule amendment that shortens the time by which most securities transactions effected by a broker-dealer are required to settle. Under the amendment,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The SEC is set to decide this week whether to okay a new ETF that could provide investors easier access to bitcoin, a potentially transformative move for the virtual currency....more

Ballard Spahr LLP

ABA comments on CFPB’s RFI on consumer access to financial information

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The American Bankers Association has submitted a comment letter in response to the CFPB’s request for information regarding consumer access to financial information. The ABA observes that while larger institutions have...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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JPMorgan and other asset managers are pushing hard for a new type of ETF that “mimics active strategies but keeps its investments secret.” The concept hasn’t yet been embraced by the SEC, though the heavy-hitters looking to...more

Morrison & Foerster LLP

A Closer Look at DOD’s New Guidance on the Military Lending Act Regulations

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On August 26, 2016, the Department of Defense (“DOD”) issued an interpretive rule (the “Interpretive Rule”) providing guidance on the DOD’s regulations implementing the Military Lending Act (“MLA”). That same day, we...more

Ballard Spahr LLP

CFPB issues Summer 2016 Supervisory Highlights

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In its Summer 2016 Supervisory Highlights, which covers supervision work generally completed between January and April 2016, the CFPB highlights violations found by its examiners involving automobile origination, debt...more

K&L Gates LLP

U.S. SEC Proposes Liquidity Risk Management Programs, Optional “Swing Pricing,” and Liquidity Reporting for Mutual Funds and...

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On September 22, 2015, the Securities and Exchange Commission (“SEC”) proposed a new rule and amendments to rules and reporting forms under the Investment Company Act of 1940 (the “1940 Act”), designed to standardize...more

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