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FinTech Fees

Goodwin

Maryland Enacts Law Regulating Earned Wage Access Services

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Maryland has enacted a law that establishes a financial-services oversight regime for earned wage access services, also known as on-demand pay services, which allow workers to access earned but unpaid income before payday....more

Payactiv

Maryland Enacts Landmark Earned Wage Access Legislation

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On May 27, 2025, Maryland enacted first-of-its-kind earned wage access (EWA) legislation to ensure Maryland workers are able to retain continued access to this valuable employee benefit. This landmark legislation follows...more

Orrick, Herrington & Sutcliffe LLP

CFPB reduces civil money penalty by nearly 98 percent against fintech

On May 15, the CFPB issued an amended consent order against a fintech company for alleged violations of various consumer financial protection laws. As previously covered by InfoBytes, the CFPB sued the fintech company in...more

Goodwin

Indiana Enacts Law Regulating Earned Wage Access Services

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Indiana has enacted a law that establishes a financial-services oversight regime for earned wage access services, also known as on-demand pay services, which allow workers to access earned but unpaid income before payday....more

Sheppard Mullin Richter & Hampton LLP

Lessons from the FTC: The Cleo AI Settlement

The FTC’s settlement with Cleo AI gives some indication as to what we might see from the agency in the coming months. The FTC alleged, among other things, that Cleo AI’s actions violated Section 5 of the FTC Act. In...more

Orrick, Herrington & Sutcliffe LLP

Maryland enacts law regulating virtual currency kiosk operators

On April 22, the governor of Maryland approved SB 305 (the “Act”) which enacts new regulations for the virtual currency kiosk industry in Maryland. The Act requires virtual currency kiosk operators to register their kiosks...more

Mayer Brown

Arkansas and Utah Enact Laws to Regulate Earned Wage Access Providers

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Just days apart, Arkansas and Utah enacted laws to regulate providers of earned wage access (“EWA”) services, joining the handful of states that have enacted legislation to regulate these products since 2022. Arkansas House...more

Robinson+Cole Data Privacy + Security Insider

Cleo AI Agrees to $17 Million Settlement with FTC

Sometimes, deals are too good to be true. That was the case for Cleo AI, an online cash advance company that promised consumers fast, up-front cash payments. According to the Federal Trade Commission (FTC), Cleo AI offered...more

Cozen O'Connor

Cash Advance Company to Pay $17 Million in FTC Settlement

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The FTC has reached a proposed settlement with Cleo AI, Inc., resolving allegations that the personal finance app violated the FTC Act and the Restore Online Shoppers’ Confidence Act through deceptive marketing and billing...more

Sheppard Mullin Richter & Hampton LLP

Class Action Certified Against Fintech Lender for Home Improvement Loans

In an order issued in January and made public on February 24, a judge in the United States District Court for the Northern District of California granted class certification to consumers alleging a fintech lender’s loan...more

Orrick, Herrington & Sutcliffe LLP

Fintech reaches consent order with CFPB over regulatory violations, deceptive practices

On January 30, the CFPB issued a consent order against a fintech company that allows customers to send, receive and store remittances through a mobile app’s prepaid accounts and debit cards. The CFPB alleged the fintech...more

Conyers

Regulatory & Risk Advisory Outlook 2025: Cayman Islands

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2024 was once again an active year for the Cayman Islands regulatory industry. In this edition of our Regulatory & Risk Advisory Outlook, our team has summarised the key changes and news during 2024 and taken a look at the...more

Sheppard Mullin Richter & Hampton LLP

FTC and DOJ File Amended Complaint Against Cash Advance Fintech

On December 30, the Department of Justice (DOJ), at the Federal Trade Commission’s (FTC) referral, filed an amended complaint against an online cash advance provider. The complaint now names the company’s CEO as a defendant,...more

A&O Shearman

New draft of Polish markets in crypto-assets act – evolution or revolution in the legislative process?

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Although the Regulation of the European Parliament and of the Council (EU) 2023/1114 of 31 May 2023 on crypto-assets markets (the MiCAR) was published in June 2023, the work on laws implementing it in Poland is still in...more

Hudson Cook, LLP

CFPB Bites of the Month - May 2024 - CFPB: Light My Way, Virginia May

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In this month's article, we share some of our top "bites" covered during the May 2024 webinar....more

A&O Shearman

Key Regulatory Topics: Weekly Update 8 - 14 Mar 2024

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There were some key publications this week in relation to financial crime, including a Commission request for the EBA to advise on standards and guidelines under the future AML/CFT framework in Europe and, in the UK, an HMT...more

A&O Shearman

Key Regulatory Topics: Weekly Update 23-29 Feb 2024

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Amongst the broad range of updates this week, at international level, the FSB published its thematic peer review on MMF Reforms and the BCBS published the outcomes of its meeting held on 28 and 29 February, including that it...more

Hudson Cook, LLP

CFPB Bites of the Month - February 2024 - "I Got You, CFPB".

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In this month's article, we share some of our top "bites" covered during the February 2024 webinar....more

Goodwin

Payment Trends in 2024

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This edition of Fintech Flash identifies key issues we anticipate will impact the payments industry in 2024. First, the payments regulatory landscape continues to evolve, with a number of proposed rulemakings published by the...more

Cadwalader, Wickersham & Taft LLP

Trends in 2024: American Bar Association Banking Law Committee Insights

From January 18th to 20th, the American Bar Association’s Banking Law Committee of the Business Law Section held its winter meeting in Washington, DC. This meeting not only provides an excellent retrospective of the previous...more

Hudson Cook, LLP

CFPB Bites of the Month - 2023 Annual Review - Fintech

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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

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 8, November 2023

FTC Amends Safeguards Rule to Require Non-Banking Financial Institutions to Report Data Security Breaches - “Amendment will require non-bank financial institutions to report when they discover that information affecting...more

Kelley Drye & Warren LLP

FTC Alleges FinTech Provider Engaged in Dark Patterns, Concealed Fees for Cash Advances in Reaching $18 Million Settlement

The FTC yesterday filed a complaint and stipulated order against Bridge, It (dba ​“Brigit”), a fintech company that operates a personal finance mobile application that advertises cash advances to consumers. According to the...more

Goodwin

FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance

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Regulatory Developments - FDIC Refines Supervisory Strategy Concerning Multiple Re-Presentment NSF Fees Guidance - On June 16, the FDIC revised its Supervisory Guidance on Multiple Re-Presentment Non-Sufficient Funds...more

Foster Garvey PC

Online Travel Update: Unveiling the AI Era in Travel - Priceline's Future, Expedia Calls Out Agoda, Hotel Distribution Trends, and...

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For the first time, our weekly Update delves into the world of artificial intelligence (AI). We’ve tried for several months now to avoid joining the chorus of voices proselytizing about the likely effects of AI, but as the...more

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