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Gramm-Leach-Blilely Act Nonbank Firms

WilmerHale

Updates to the Safeguards Rule Will Require Non-Banking Financial Institutions to Report Data Security Breaches to the FTC

WilmerHale on

On October 27, 2023, the Federal Trade FTC (FTC) approved amendments to its version of the Standards for Safeguarding Customer Information Rule (the Safeguards Rule) to require non-banking financial institutions regulated by...more

Troutman Pepper

Big Tech in the CFPB’s Crosshairs: Bureau Proposes to Supervise Larger Technology Companies Offering Digital Wallets and Payment...

Troutman Pepper on

On November 7, the Consumer Financial Protection Bureau (CFPB) issued a proposed rule with request for public comment to amend existing regulations defining “larger participants” the CFPB supervises by adding a new section to...more

BCLP

How is Open Banking Regulated?

BCLP on

In previous posts in our BankBCLP.com series on this topic, we’ve attempted to define “open banking” and the ways in which it is attracting increasing industry attention through open APIs. As our series continues, we describe...more

Carlton Fields

CFPB Proposes Regulating Nonbank Auto Finance Companies

Carlton Fields on

On September 16, the Consumer Financial Protection Bureau (CFPB) issued and requested comment on a proposed rule that would, for the first time, subject nonbank auto finance companies to federal regulation and oversight. The...more

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