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Skadden, Arps, Slate, Meagher & Flom LLP

CFPB Releases Final ‘Open Banking’ Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act. The Rule imposes significant new obligations on...more

Perkins Coie

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

Perkins Coie on

Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

A&O Shearman

Great Fund Insights: ELTIF Regulation: consolidated text including ELTIF 2.0

A&O Shearman on

The ELTIF-RTS, the final piece of the puzzle for the ELTIF framework, have been published in the Official Journal on October 25, 2024 and entered into force on October 26, 2024. This marks the end of a long and complex...more

Troutman Pepper Locke

FDIC Proposes New Rule to Strengthen Recordkeeping for Third-Party Deposits

Troutman Pepper Locke on

On September 17, the Federal Deposit Insurance Corporation (FDIC) announced a notice of proposed rulemaking (Proposal) aimed at enhancing recordkeeping for bank deposits received from fintech and other third-party, non-bank...more

Ballard Spahr LLP

Federal District Court in Texas which recently validated CFPB’s small business data collection rule might entertain “new” funding...

Ballard Spahr LLP on

On August 26, 2024, Chief Judge Randy Crane in the E.D. Texas granted summary judgment to the CFPB, denied summary judgment to the trade groups and upheld the validity of the CFPB’s small business data collection rule....more

Ballard Spahr LLP

Federal Agencies Issue Final Automated Valuation Model Quality Control Rule

Ballard Spahr LLP on

Federal banking regulators recently began adopting a final rule that requires, among other things, supervised mortgage originators and secondary market issuers to ensure that automated valuation models they use follow quality...more

Troutman Pepper Locke

Tackling Credit Push Fraud: Understanding Nacha's Risk Management Package (Part One) — Payments Pros: The Payments Law Podcast

Troutman Pepper Locke on

In this episode of Payments Pros, Carlin and Keith welcome back Jordan Bennett, Nacha's senior director of network risk management, for a two-part series on the newly approved rules designed to combat credit push fraud....more

Troutman Pepper Locke

Nacha Approves New Rules to Combat Credit-Push Fraud

Troutman Pepper Locke on

On March 18, Nacha, the organization that governs the ACH network, announced that its members approved a new set of rules aimed at reducing the incidence of frauds, such as business email compromise (BEC), that exploit...more

GeoDataVision

The New CRA Rule: Another Surprise – for Banks and maybe for the Regulators too (part of a series taking a critical look at the...

GeoDataVision on

The new CRA Rule has a number of surprises for banks and maybe a surprise or two for the regulators themselves. One of those surprises involves the transition rules in §__.51 as they pertain to the April 1, 2024, the...more

White & Case LLP

OCC modernizes, adds flexibility to powers and procedures rules

White & Case LLP on

The OCC recently finalized two broad updates to its regulations that increase flexibility for regulatory filings, including for corporate transactions such as business combinations, and update and clarify permissible...more

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